You clicked on a link to a page that is not part of the beta version of the new worldbank.org. Before you leave, we`d like to hear from you about your experience while you were here. Will you take two minutes to complete a brief survey that will help us improve our website? Prior to 1974, World Bank reconstruction and development lending was relatively low. The bank`s staff were aware of the need to build trust in the bank. Fiscal conservatism prevailed and credit applications had to meet strict criteria. :56-60 The World Bank collects and processes large amounts of data and generates it on the basis of economic models. These data and models have been gradually made available to the public in a way that encourages reuse, while the most recent publications they describe are available in open access under the Creative Commons Attribution license, for which the Bank received the 2012 SPARC Innovator Award.  Amid the global fight against the COVID 19 pandemic, the World Bank announced a $12 billion plan in September 2020 to provide a vaccine to “low- and middle-income countries” as soon as it was approved. The plan is expected to affect more than two billion people worldwide.  Based on an agreement between the United Nations and the World Bank in 1981, Development Business has become the official source of World Bank notifications, tenders and project approvals.  The President of the Bank is President of the World Bank Group as a whole. The Chair is responsible for the management of the Bank`s Board of Directors and Executive Management meetings. Traditionally, the President of the Bank has always been a U.S.-appointed citizen, the Bank`s largest shareholder (the Managing Director of the International Monetary Fund has always been a European).
The nominee is subject to the confirmation of the Board of Directors, which is working for a renewable five-year term. While most World Bank presidents had banking experience, some did not.   Another source of criticism has been the tradition of having an American boss of the bank, which was implemented because the United States provides most of the World Bank`s financing. “When World Bank economists visit poor countries to distribute money and advice,” The Economist noted in 2012, “they systematically tell governments to reject nepotism and fill every important job with the best available candidate. That`s good advice. The World Bank should do that.  In the late 1980s, some international organizations began to believe that the structural adjustment policy worsened the lives of the world`s poor as a result of reduced social spending and higher food prices, with subsidies eliminated.