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Biz_WorldBankFacts.ID_WB = 7208674;
Biz_WorldBankFacts.sPubDate = "3/16/2005 8:32:22 PM GMT";
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Biz_WorldBankFacts.appHeader = "FACT FILE|World Bank";
Biz_WorldBankFacts.appDeck = "Facts about the international development organization.";
Biz_WorldBankFacts.appFooter = "Source: The Associated Press";
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Biz_WorldBankFacts[i++] = new Array("","World Bank basics","","","","", "", "", "", "", "", "", "", "", "", "", "", "", "", "");
Biz_WorldBankFacts[i-1].body = "The World Bank has 10,000 employees in 109 countries.
It’s based in Washington, D.C.
Last year, it gave out $9 billion in loans or grants to low-income countries.
It’s currently involved with 1,800 projects across the world.
Its job is to help developing nations. Projects include health, education, rebuilding, agriculture, water, economics and stabilizing government.
The World Bank does that by giving developing governments funding and technical expertise.
";
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Biz_WorldBankFacts[i-1].body = "It’s not actually a bank in the traditional sense.
The term “World Bank” refers to a group of organizations which give out low-interest loans, interest-free credit and grants to developing countries.
The World Bank is a special agency of the United Nations.
The bank says it funds more education programs than any other outside government or agency.
It likewise says it funds more AIDS/HIV education than anyone else.
";
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Biz_WorldBankFacts[i-1].body = "A board of executive directors oversees day-to-day operations.
It’s headed by the bank president.
Technically the board of executive directors chooses the president.
But by tradition, the United States has the right to name the president.
Similarly, Europe chooses the head of the International Monetary Fund.
There are 24 executive directors of the World Bank.
Five are selected, one each, by France, Germany, Japan, the United Kingdom and the United States.
The other 19 are elected by country groups every two years.
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Biz_WorldBankFacts[i-1].body = "The World Bank has 184 member nations.
They have a role in policy and how money is spent. But the sources of the bank’s money vary.
Most of the bank’s projects are self-funded, except for grants.";
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Biz_WorldBankFacts[i-1].body = "Grants:
40 wealthy countries pay to a fund giving grants, credit to the poorest developing nations.
The fund gained $15 billion from donors and the bank last year.
That funding is the the International Development Association.
It’s about 25% of the Bank’s financial assistance.
And it’s the area where donor countries provide the most funds.Loans:
About $11 billion in loans a year are funded by the World Bank.
Go to developing countries with higher incomes.
Countries generally have 15 to 20 years to repay with a few year’s grace period.
Most of the money for loans comes from bonds the bank sells on financial markets.";
// END editorial data