Blakemore - Key Idea 3 Flashcards
What is the World Bank and where are their headquarters?
The World Bank is an international development agency and a financial institution which gives loans to developing and middle income countries The Bank’s headquarters are on Pennsylvania Avenue in Washington DC.
When was the World Bank formed?
At the Bretton Woods conference in 1944.
What are the World Bank’s 3 main priorities?
- Economic efficiency
- Achieving environmental balance
- Investing in people
What were the World Bank’s development ideas between 1945 and 1970?
- Loans to middle income countries
- Very strict conditions
- Small loans mainly for infrastructure associated with development
What were the World Bank’s development ideas and models between 1970 and 2000?
- Works with governments
- High interest loans which created debt
- SAP’s which were conditional
- Economic growth driven
- Encouraged governments to make austerity savings by cutting funding for education and healthcare
How have the World Bank’s development ideas changed post 2000?
- Works with communities
- Means-tested interest and dropped debt on countries such as Uganda
- Poverty reduction driven
- More diverse and multi-cultural disciplinary team
- Projects often invest directly in education and healthcare with governments encouraged to do the same
What is the Akosombo Dam?
A 124m tall and 340m wide dam in Southern Ghana, damming the River Volta. However, it has created Lake Volta which at 850,000 ha is the world’s largest artificially created lake.
What was the Akosombo Dam designed to do and has it achieved its goals?
- Designed to produce Hydro-Electric power for the Aluminium Industry. Failed to achieve goals as Valco often import bauxite from Jamaica rather than using Ghanaian Bauxite
What social and environmental costs did the dam bring?
The creation of Lake Volta left 80,000 people displaced.
The dam has provided space for Water Weeds which provide habitats for Black-fly and Mosquitoes which are the causes of water-borne illnesses such as Malaria
What was the objective of the World Banks community driven development project in Haiti?
- To assist the government in the direct transfer of public resources to local commnity organisations in poor communities.
- This would improve their access to basic economic infrastructure and support income generating activities.
How much funding has the World Bank provided to the community driven development project in Haiti?
Since 2004 the Bank has funded the project for $40.3 million. It has delivered almost 1,500 grants to community based organisations of $17,500, in 59 communes.
Where is the community driven development project in Haiti still an example of World Bank neo-liberalism?
- Only benefits the wealthier, more educated participants who are politically connected.
- Still aimed at accessing basic economic infrastructure, highlighting the underlying neo-liberal agenda of the Bank.
