objective of IMF
The main objective of IMF is to grant loans in foreign currencies to member countries to correct any disequilibrium in their balance of payments, when disequilibrium is of temporary nature and likely to be removed in the earliest possible period. According to the Article 1st of the agreement, the objectives of the IMP are(i) To promote international monetary cooperation through a permanent institution of the fund which provides the machinery for Consultation and Collaboration on international monetary problems?
(ii) To facilitate the expansion and balanced growth of international trade and to contribute thereby to the promotion and maintenance of high level of employment and real income;
(iii) To promote exchange stability and maintain orderly exchange arrangements among members by avoiding competitive exchange depreciation;
(iv) To assist in the establishment of a multi-lateral system of payments in respect of current transactions between members and elimination of foreign exchange restrictions which hamper the growth of world trade.
(v) To create confidence among members by making the general resources of the fund temporarily available to them and providing opportunity to correct maladjustments in their balance of payments without resorting to the measures destructive of national or international prosperity.
World Bank
The term "World Bank" generally refers to the IBRD and IDA, whereas the World Bank Group is used to refer to the institutions collectively.[2]
The World Bank's (i.e. the IBRD and IDA's) activities are focused on developing countries, in fields such as human development (e.g. education, health), agriculture and rural development (e.g. irrigation, rural services), environmental protection (e.g. pollution reduction, establishing and enforcing regulations), infrastructure (e.g. roads, urban regeneration, electricity), and governance (e.g. anti-corruption, legal institutions development). The IBRD and IDA provide loans at preferential rates to member countries, as well as grants to the poorest countries. Loans or grants for specific projects are often linked to wider policy changes in the sector or the economy. For example, a loan to improve coastal environmental management may be linked to development of new environmental institutions at national and local levels and the implementation of new regulations to limit pollution.
Objectives The objective of the World Bank Institute's Growth and Crisis - Skills & Innovation Policy program is to stimulate social and economic development in client countries by building their capacity to access and use knowledge as a basis for enhancing competitiveness and increasing welfare. The program works with clients to develop concrete 'knowledge' strategies that can be implemented 'on the ground'.
The program focuses on helping countries understand their strengths and weaknesses with respect to knowledge as a means of identifying appropriate policies for improvement of the country's performance. We work with client countries to create a framework for achievable action over a reasonable time period. To be effective, this work must be supported by the creation of the necessary capacity to deliver - namely, people and organizations with the skills, competencies and understanding capable of taking things forward, and supported by access (online and face-to-face) to networks of expertise and experience from across the world.
(I.F.C)
The International Finance Corporation (I.F.C) is an affiliated institution of World Bank. It was established on July 20, 1956 with the object of assisting private enterprises in developing countries by providing them with risk capital. The World Bank grant loans only to member governments or private enterprises with the guarantee of member government concerned. Again the World Bank provides only loan to private enterprises. Infact the development of private enterprises is held up for lack of adequate risk capital. Hence there was an urgent need for some international finance institution which would be willing to provide risk capital to the private industrial undertaking in developing countries. The I.F.C was set up to meet the participation requirement of private industrial undertakings. OBJECTIVES OF THE I.F.C The main objectives of the I.F.C is to accelerate the pace of economic development of the member countries in the under developed areas of the world in these ways. (i) By investing in private productive enterprises in association with private investors and without any government guarantee of repayment. (ii) By bringing together investment opportunities, private capital, both foreign and domestic and experienced management. (iii) By stimulating productive investment of private capital, both foreign and domestic, in the developing countries for productive purposes.
