World Bank

World Bank
Motto	Working for a World Free of Poverty
Headquarters	Washington D.C., United States
Leader	President of the World Bank Group
Type	Monetary International Financial Organization
Member of	European Policy Centre
Sponsored by	ClimateWorks, Omidyar Network, Rockefeller Foundation
Exposed by	Joseph Stiglitz
Subpage	•World Bank/CEO •World Bank/Chief Economist •World Bank/Managing Director •World Bank/President •World Bank/Vice President

Official narrative

The group has aims to relieve poverty.

Problems

The fact that the group's president is a USA citizen reflects its dominated by the nations of the global north. Its track record is one of effectively promoting neocolonialism.

Debt crisis

Full article: “Debt crisis”

During the 1970s, the bank made huge loans to the countries of the global south, often with corrupt leaders, that had no real impact at improving the lives of the vast majority of the people there. In the 1980s opnwards, repayments were used as an excuse for external political interference in those countries. "Structural adjustment policies" were implemented that were designed to 'streamline the economies of developing nations' (i.e. to enrich the countries of the global north). UNICEF reported in the late 1980s that the World Bank's structural adjustment programs had "reduced health, nutritional and educational levels for tens of millions of children in Asia, Latin America and Africa".

The Summers Memo

An internal memo from the then World Bank Chief Economist, Lawrence Summers, is revealing about the bank's decision making process - as is the fact that its publication did not appear to have a negative impact on his career.

 

Related Quotations

Page	Quote	Author	Date
Josef Ackermann	“Maybrit Illner: Mr. Ackermann, you are also head of the International Banking Federation. Couldn't you just have made such a demand to all your colleagues who came out of this crisis really clean? Josef Ackermann: I think the same would have happened to me as it did to Mr Herrhausen. [...]”	Josef Ackermann Maybrit Illner	13 May 2010
John Perkins	“My job was to convince heads of state of countries with resources our corporations covet, like oil, to accept huge loans from the World Bank and its sister organizations. The stipulation was that these loans would be used to hire our engineering and construction companies, such as Bechtel, Halliburton, and Stone and Webster, to build electric power systems, ports, airports, highways and other infrastructure projects that would bring large profits to those companies and also benefit a few wealthy families in the country, the ones that owned the industries and commercial establishments. Everyone else in the country would suffer because funds were diverted from education, healthcare and other social services to pay interest on the debt. In the end, when the country could not buy down the principal, we would go back and, with the help of the International Monetary Fund (IMF), “restructure” the loans. This included demands that the country sell its resources cheap to our corporations with minimal environmental and social regulations and that it privatize its utility companies and other public service businesses and offer them to our companies at cut-rate prices.”	John Perkins

 

Employees on Wikispooks

Employee	Job	Appointed	End	Description
Lajos Bokros	Director for Private Sector and Finance	1996	2004	Attended Bilderberg/2007
Eric Ciaramella	Researcher	2011
Patrick Clawson	Senior Economist	1985	1989
Peter Costello	Chairman of Independent Advisory Board	2010
Sebnem Kalemli-Özcan	Senior Policy Advisor	August 2019	December 2020
Pedro Pablo Kuczynski	Regional economist	1961	1967
John J. McCloy	World Bank/President	17 March 1947	1 July 1949
Marwan Muasher	Senior Vice President of External Affairs	March 2007	2010
Mari Elka Pangestu	Managing Director	1 March 2020
Bernard Snoy et d'Oppuers	Executive Director	1991	1994	Represented Austria, Belarus, Belgium, Hungary, Kazakhstan, Luxembourg, Slovakia, Czech Republic and Turkey

 

Sponsors

Event	Description
ClimateWorks	Large funder of projects intended to steer public opinion and take control over all government policy under the pretext of fighting climate change. Part of "a blob" of similar very wealthy interconnected foundations with opaque structures. Backers include Bill Gates and Michael Bloomberg.
Omidyar Network	Foundation owned by the the deep state-connected billionaire Pierre Omidyar, financing preferred NGOs
Rockefeller Foundation

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References

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