International bank for

RECONSTRUCTION AND DEVELOPMENT

Background

Founded in 1944 to help Europe recover from

World War II, the International Bank for

Reconstruction and Development (IBRD) is one of

five institutions that make up the World Bank Group. IBRD is the part

of the World Bank (IBRD/IDA) that works with middle-income and

creditworthy poorer countries to promote sustainable, equitable and

job-creating growth, reduce poverty and address issues of regional and

global importance.

Structured something like a cooperative, IBRD is owned and operated

for the benefit of its 185 member countries. Delivering flexible, timely

and tailored financial products, knowledge and technical services, and

strategic advice helps its members achieve results. Through the World

Bank Treasury, IBRD clients also have access to capital on favorable

terms in larger volumes, with longer maturities, and in a more

sustainable manner than world financial markets typically provide.

Specifically, the IBRD:











supports long-term human and social development needs that

private creditors do not finance;

preserves borrowers' financial strength by providing support in crisis

periods, which is when poor people are most adversely affected;

uses the leverage of financing to promote key policy and

institutional reforms (such as safety net or anticorruption reforms);

creates a favorable investment climate in order to catalyze the

provision of private capital;

provides financial support (in the form of grants made available

from the IBRD's net income) in areas that are critical to the well-

being of poor people in all countries.

Middle-income countries, where 70 percent of the world's poor live,

have made profound improvements in economic management and

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governance over the past two decades and are rapidly increasing their

demand for the strategic, intellectual and financial resources the World

Bank has to offer. The challenge facing the IBRD is to better manage

and deliver its resources to best meet the needs of these countries.

To increase its impact in middle-income countries, IBRD is working

closely with the International Finance Corporation (IFC), the

Multilateral Investment Guarantee Agency (MIGA), the International

Monetary Fund (IMF) and other multilateral development banks. In the

course of its work, IBRD is also striving to capitalize on middle-

income countries' own accumulated knowledge and development

experiences and collaborates with foundations, civil society partners

and donors in the development community. For more information

about this effort, see Strengthening Middle Income Countries

Engagement.

(from http://go.worldbank.org/D6IEM83I10)

IBRD raises most of its funds on the world's financial markets and has

become one of the most established borrowers since issuing its first

bond in 1947. The income that IBRD has generated over the years has

allowed it to fund development activities and to ensure its financial

strength, which enables it to borrow at low cost and offer clients good

borrowing terms.

At its Annual Meeting in September 2006, the World Bank – with the

encouragement of its shareholder governments – committed to make

further improvements to the services it provides its members. To meet

the increasingly sophisticated demands of middle-income countries,

IBRD is overhauling financial and risk management products,

broadening the provision of free-standing knowledge services and

making it easier for clients to deal with the Bank.

(from http://go.worldbank.org/SDUHVGE5S0)

© 2009 The World Bank Group, All Rights Reserved.

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TASKS

Task 1. Transcribe and pronounce:

Unique, collaborative, guarantee, employees, adversely, leverage,

anticorruption, catalyze.

Task 2. Match the words (make up word combinations) and translate

them into Russian:

1.

2.

3.

4.

5.

6.

7.

8.

9.

vital

collaborative

sustainable

job-creating

strategic

anticorruption

profound

financial

sophisticated

a) globalization

b) demands

c) improvements

d) growth

e) advice

f) role

g) reforms

h) source

i) strength

Task 3. Insert prepositions (if necessary):



















To focus … middle income and creditworthy poor countries

To be made … … two unique development institutions

To be founded … 1944

To be owned and operated … the benefit … its 185 member

countries.

To have access … capital … favorable terms

To preserve …borrowers' financial strength

To catalyze the provision … private capital;

To strive … capitalize

To meet …the increasingly sophisticated demands

Task 4. Answers the questions.

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







What was the basic purpose the World Bank was created for?

Where is the headquarters of the World Bank located?

How many countries does IBRD assist?

When was the IBRD established?









What is the main aim of the IBRD?

Why does the IBRD create a favorable investment climate?

IBRD is also striving to capitalize on middle-income countries'

own accumulated knowledge and development experiences and

collaborates with foundations, civil society partners and donors

in the development community, doesn’t it?

Why has the IBRD become one of the most established

borrowers?

Task 5. Translate into English:

МБРР

–

это аббревиатура Международного банка

реконструкции и развития. МБРР является самым крупным

кредитором проектов развития в развивающихся странах,

имеющих средний уровень дохода на душу населения. МБРР

предоставляет кредиты на срок 15-20 лет.

Важно знать, что именно МБРР является основным

кредитным учреждением Мирового банка (или Всемирного Банка

– ВБ).

Международный банк реконструкции и развития был

учрежден Организацией Объединенных Наций в 1944 году.

Одновременно с ним был учрежден МВФ (Международный

валютный фонд).

Официальная цель деятельности МБРР

–

содействие

странам, являющимися членами Банка, в развитии и укреплении

их экономики, а именно:

- предоставление долгосрочных кредитов;

- предоставление долгосрочных займов;

- гарантирование частных инвестиций.

Изначально МБРР помогал в основном странам Западной

Европы, однако позже сменил курс на Латинскую Америку,

Африку, некоторые страны Азии.

Следует подчеркнуть, что МБРР, как правило, выдает

кредиты не на весь инвестируемый объект, а лишь на 25-35% его

стоимости.

При этом основной акцент в кредитовании делается на

следующие отрасли:

– связь;

– транспорт;

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– энергетика;

– образование;

– здравоохранение;

– сельское хозяйство.

Сегодня МБРР также активно помогает регулировать

внешний долг развивающихся стран. Так, МБРР предоставляет

кредиты для регулирования структуры экономики развивающихся

стран и для оздоровления их платежного баланса.

Источник: www.o-banke.ru

© О банке.РУ, 2008. Популярная информация о банках.

Word-building

Before doing this exercise you need to revise word-building affixes

given in Module 1 “WTO – Benefit 4”.

Task 6. Complete the table with suitable words (if possible):

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noun	verb	adjective	adverb
success	succeed	successful	successfully
assistance
	recover
			rapidly
		available
development
	operate
			specifically
		favorable
reconstruction
	access
			adversely
		equitable
globalization
	promote
			typically
investments
	catalyze