The World Bank is not a Bank in the literal sense, but rather an organization that has a sole mission of reducing poverty.
Its 20 billion annual fund are distributed around third world countries due to the support of major countries around the globe.
The great thing about this organization is that it is a central agency that has the support of 184 member countries that helps it function.
A key feature is that it utilizes public and private partnerships inorder to start economic growth in 3′rd world countries. It provides a bridge of sort and regulates any disputes that may occur in the future.
Furthermore, it support all parties involved. Investments made by companies are secured and expedited by this joint alliance.
So it is a huge incentive to join with a reputable organization as World Bank.
The impact is huge as it is a central agency that allows all countries to pool there money together to help all those regions that are in dire need. By involving all private partnership as well ensures that this is idea is sustainable, not to mention it has a deep history since its inception after WW2.
The involvement of all countries allow them to survive for the long term. Also since it reaches a global audience it has a huge potential to last until the future.
However the only concern is, countries reduce its contributions as it is now during the world recession period.
A major concern that I have is that the beauricratic nature the organization may have, since it has many members and any initative such as which country to help or which programs to initate will have to go through a voting process before it is implemented, this may take quite some time.
Although this is a great thing all the ideas are thought out, it may be programs all get stuck in the planning phase and are not implemented. Furthermore, due to politics that may be involved, some regions may be neglected (due to conflict of interest or government/regime issues).
A suggestion, maybe by limiting there scope such as helping one region at a time may fast track any problems that they may foresee and prevent them from spreading too thin, by focusing in regions that are in immediate danger.
The World Bank has a clear Social Value Proposition and that is to reduce poverty. Having this ensure all that are involved are clear about the goal and vision that they are working towards.
http://www.bicusa.org/en/Institution.5.aspx
