The World Bank

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is one of the world's most powerful agencies. Although it
characterizes itself as a purely economic institution -- which controls the
lending of billions of dollars -- in practice its influence, wealth, and
policies all result in having immense political power (Faith 1). Although
originally created to serve as an institution to help rebuild the world (i.e.
Europe) after World War II, its task has since shifted to development work and
poverty reduction. Through its immense control of wealth, and its international
reputation, the Bank has managed to lend billions to 'under-developed' nations.
The loans take many forms, including financing of mega-projects and structural
adjustment. Beginning in the 1980's vast amounts of criticism on the Bank's
policies began to appear, finding faults in much of its work. Many of its
projects have been declared more harmful than helpful, often worse names have
been used. The Bank has managed to make enemies in many activist circles;
including ...

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(part II countries). Instead of dealing with these problems, it fools
itself and others into believing in a positive end result; ignoring the rule
'the ends do not justify the means' not to mention the fact that many do not
foresee a positive end. To deal with the image problem created by its own
disasters, the World Bank has attempted to make itself appear more effective.
Yet it seems to have forgotten that what is important is not the image but the
results. This is what has become of the humanitarian goals of the World Bank.

The Bank, despite its many critics, is considered by most to be "the world's
foremost, most prestigious official development institution" (Faith 112). Many
seeking ...

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