Comprehension check

I. Give English equivalents to the following:

Предоставления долгосрочных займов и кредитов, ресурсы банка, акционерный капитал, размещение облигационных займов, управлять денежными ресур­сами, работать с правительственны­ми облигациями, специализироваться на кредитовании производства, предоставлять консультативные услуги при разработке программ развития с целевыми инвестициями, структурная перестройка и модернизация предприятий.

II. Read the words and guess their meanings:

financial intermediaries, domestic banking, international banking, to offer depositors and borrowers better terms, foremost intergovernmental organization, developing countries, reasonably satisfied, the prospects for repayment, short-term financing, long-term financing, agriculture and rural development, environmental protection, to provide loans at preferential rates, additional votes which depend on financial contributions to the organization, the living standards of people in the developing world.

III. Are the following statements true or false?

1. The World Bank's activities are focused on developing countries.

2. The World Bank Group and its affiliates have their headquarters in Bretton Woods, New Hampshire.

3. The World Bank came into formal existence on 27 December 1944 following international ratification of the Bretton Woods agreements.

4. The World Bank Group consists of 6 organizations.

5. The World Bank is the world’s foremost intergovernmental organization concerned with the external financing of the economic growth of developing countries.

6. The official title of the World Bank is International Monetary and Financial Committee.

7. Voting power in the World Bank is determined by the size of each member nation’s subscription.

8. By tradition, the president of the World Bank is an American.

9. The Board of Directors consists of 22 members.

10. Because of the size of their subscription five nations (the United States, Japan, Germany, the United Kingdom and France) are entitled to appoint executive directors.

IV. Fill in the gaps using the words given

graduate scholarship programs, economic development, the external financing, executive directors, the flow of capital, intermediaries, the productivity, subscription, the prospects, developing, reasonably, foremost, lending, poverty, power

1. Voting ___ in the Bank is determined by the size of each member nation’s ____ .

2. International banks, like domestic banks, act as financial ____.

3. The World Bank is the world’s ___ intergovernmental organization.

4. The World Bank is concerned with ____ of the economic growth of ____ countries.

5. Before recommending a Bank loan, the staff of the Bank must be ____ satisfied that ____of the borrowing country will be increased and that ____ for repayment are good.

6. The Bank has also paid increasing attention to the evaluation of previous ____.

7. The day-to-day affairs of the Bank are determined by ____ who live permanently in Washington.

8. The World Bank Group has had a significant positive effect on ____ to the poorer countries of the world.

9. The World Bank Group is a group of five international organizations responsible for providing finance and advice to countries for the purposes of ____and ____ reduction, and for encouraging and safeguarding international investment.

10. World Bank also engages in funding the education of promising young people from developing countries through its ____.