International economic organizations

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International economic organizations by Mind Map: International economic organizations

1. World Bank

1.1. Formation July 1944

1.1.1. Headquarters 1818 H Street NW, Washington, D.C., U.S. Membership 190 countries

1.2. purpose to reduce poverty through financial assistance.

1.2.1. consists of 5 underlying institutions, the first two of which are collectively referred to as The World Bank. International Bank for Reconstruction and Development (IBRD). This is the IMF's lending arm. It provides financial assistance to credit-worthy, middle- and low-income nations. International Development Association (IDA). IDA provides loans and grants to poor countries. International Finance Corporation (IFC). In contrast to the World Bank, which focuses its efforts on governments, the IFC provides money and advice to private sector entities. Multilateral Investment Guarantee Agency. MIGA seeks to encourage foreign direct investment in developing nations.

2. International Monetary Fund-IMF

2.1. Formation July 1944

2.1.1. Headquarters Washington, D.C., U.S. Membership 190 countrie Official language English

2.2. Membership 190 countries

2.2.1. Official language English purpose;working to foster global monetary cooperation secure financial stability

2.3. while World War II was still raging, as part of the Bretton Woods Agreement.

2.4. main purpose;The organization’s “primary purpose is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries (and their citizens) to transact with each other.”п

3. World Trade Organization -WTO

3.1. Formation 1 January 1995

3.1.1. Headquarters Centre William Rappard, Geneva, Switzerland Membership 164 member state

3.2. purpose is to promote fair trade between nations

3.3. Following up on GATT, the 1986-1994 Uruguay Roundtable trade negotiations resulted in the formal creation of the WTO.

3.4. Advancing the WTO Mission:

3.4.1. The WTO seeks to facilitate cross-border trade Negotiations are conducted in an all-or-nothing format Accordingly, there are no partial deals, so missed deadlines and protracted efforts that continue for many years are not uncommon. Official languages English, French, Spanis

4. The IMF and the World Bank, the WTO is funded by its members.

4.1. Purpose:To help countries get back on a stable financial footing after World War 2

4.2. To govern international trade and finance

4.2.1. To agree on rules about how countries deal with monetary affairs