With the ongoing conflict with Catalonia, and a referendum
being signed for Independence only to be declined by the Spanish Government
shows how a country like Spain manage to balance it all out.Japan being a
high developed and market-oriented economy is the third-largest economy in the
world by nominal GDP and is the world’s second largest developed economy, Japan
recovered from devastation to become the world’s second largest economy, All of
this was only possible after Japan joined World bank in 1952. The help of World
Bank allowed Japan to transform their economy and to become from a borrower of
the world bank to a creditor to the World Bank.
This transformation interested me and therefore selected this topic.

Origin And Nature

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The World Bank is an international financial
institution that provides loans to countries of the world for capital programs.
It comprises two institutions: the International Bank for Reconstruction and
Development (IBRD), and the International Development Association (IDA). The
World Bank is a component of the World Bank Group.

The World Bank’s stated official goal is the
reduction of poverty,Its decisions must be guided by a commitment to the
promotion of foreign investment and international trade and to the facilitation
of capital investment.

The World Bank has expanded from the single
institution that was created in 1944 to a group of five unique and cooperative
institutional organizations. The first organization is the International Bank
for Reconstruction and Development (IBRD) , an institution that provides debt
financing to governments that are considered middle income. The second organization
within The World Bank is the International Development Association (IDA), a
group that gives interest-free loans to governments of poor countries.

The International Finance Corporation (IFC), the
third organization, focuses on the private sector and provides developing
countries with investment financing and financial advisory services. The fourth
part of The World Bank is the Multilateral Investment Guarantee Agency (MIGA),
an organization that promotes foreign direct investments in developing countries.
The fifth and final organization is the International Centre for Settlement of
Investment Disputes (ICSID), an entity that provides arbitration on
international investment disputes.

World Bank consists of 189 member countries. Japan
joined the World Bank in August 1952, the year after the signing of the San
Francisco Peace Treaty. Starting in 1953, a number of projects were implemented
in Japan with World Bank loans for the development of the nation’s economic
foundation, such as electric power generation, basic industries development,
transportation, water, and infrastructure.

Japan hosted the Annual Meetings of the World Bank
Group and International Monetary Fund for the first time in 1964, a symbolic
year that clearly showed Japan’s post-war reconstruction and return to the
international community. In 1966, Japan signed its final World
Bank loan, and graduated from borrower status in the following year.

Japan strengthened its status as a creditor in the
1970s, and became the second-largest shareholder of the World Bank in 1984,
gaining a greater voice as one of the most important partners.With the ongoing conflict with Catalonia, and a referendum
being signed for Independence only to be declined by the Spanish Government
shows how a country like Spain manage to balance it all out.With the ongoing conflict with Catalonia, and a referendum
being signed for Independence only to be declined by the Spanish Government
shows how a country like Spain manage to balance it all out.With the ongoing conflict with Catalonia, and a referendum
being signed for Independence only to be declined by the Spanish Government
shows how a country like Spain manage to balance it all out.