The World Bank is an institution of international finance within the United Nations system that provides loans to capital projects for developing nations [22 . They are one of the organizations that make up the World Bank Group [3] and is a member of the United Nations Development Group (UNDG).
The primary objective for the World Bank is to eradicate poverty. As per its relevant agreement (revised and in effect on February 16th 1989) the bank’s actions must focus on encouraging foreign direct investment and international trade, as well as encouraging capital investment. [4]
The World Bank is composed of two organizations are The International Bank for Reconstruction and Development and the International Development Association. It is important to note that the World Bank is not identical to the World Bank Group. The latter is composed of five organizations, including the International Bank for Reconstruction and Development and the International Development Association (the two are collectively known by the name of “World Bank”), the International Finance Corporation, the Multilateral Investment Guarantee Agency, and the International Investment Dispute Settlement Center. Composition [5] . In some informal situations, there are occasions when it is possible to refer to the World Bank Group can also be called”the “World Bank” for short. Presently, the presidents from the previous generations of the group have all been Americans. Furthermore that 85% of votes are needed for major resolutions to be passed the resolution and the percentage to votes within the America United States has never been lower than 15 per cent. Thus, the percentage to votes within America is a sign that the United States can actually be considered to be a Have “veto power.”
