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SS3: ECONOMICS - 2ND TERM

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  1. Balance of Payment I | Week 1
    4 Topics
  2. Balance of Payment II | Week 2
    4 Topics
  3. Economic Growth & Development | Week 3
    1 Topic
    |
    1 Quiz
  4. Economic Development Planning | Week 4
    2 Topics
    |
    1 Quiz
  5. International Economic Organisations I | Week 5
    4 Topics
  6. International Economic Organisations II | Week 6
    6 Topics
    |
    1 Quiz
  7. Current Economic Plans | Week 7
    5 Topics
    |
    1 Quiz
  8. Economic Development Challenges | Week 8
    4 Topics
  9. Economic Reform Programs | Week 9
    5 Topics



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The International Bank for Reconstruction and Development (IBRD) otherwise known as the World Bank was established by the Bretton Wool Agreement of 1944 at the same time as the International Monetary Fund (IMF). The members are IMF members alone. The main objective is to provide development funds in form of loans and technical assistance to poor nations. 

Aims and Objectives of the International Bank for Reconstruction & Development (IBRD)

1. The main objective is to provide development funds in form of loans and technical assistance to members 

2. They provide investment capital for productive resource of members.

3 They provide experts to settle developmental problems

3.  Balanced growth of international trade among members.

4. To encourage international investment among members

5. Increase the standard of living in developing countries by channeling financial resources to those countries.

The Lending Policy of the International Bank for Reconstruction and Development (IBRD)

1. Only lend for productive purposes such as Education, agriculture, construction of roads, rural development, energy supply, etc

2. Loans are being stipulated, guaranteed, and determined by the government of a country

3. Loans repayment is very important

4. Except in special circumstances, loans must be for specific projects

5. Economic consideration is crucial to the bank’s decisions to lend

6. Regulatory mechanism is efficient and risk management

7. High level of commitment towards economic stability in order to reduce inflation and deficits

Functions of the International Bank for Reconstruction and Development (IBRD)

1. It assists in the development and reconstruction of members 

2. To promote world productive capacity

3. To encourage the resources of the underdeveloped economy

4. To promote foreign investment through given loans when needed

5. To help long range balance growth of external trade

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