Role of World Bank In Acceleration of Globalization
The World Bank in this case has established itself as an international banker that has played a significant role in globalization. Since a lot of finance is needed in, conducting international trade together with the investments between nations and locally the world bank has helped greatly in lending to the respective nations (Lawrence & Weber, 2011). The World Bank has played a critical role in helping countries further development especially since its inceptions and after the Bretton Woods conference in 1944 that dwelt on globalization. The role of the World Bank in accelerating globalization is thus that of a lender to the different countries especially those that have low income while at the same time providing advisory services to those countries to further help the movement of resources, ideas and people to the respective countries (Yueh, 2009). As such in the advisory and lending function, the world has to work with the developing countries especially those that are low income to ensure that the respective governments strengthen their governance structures, ensure that the judicial systems are efficient and build strong economy as a result.
Since most of the poor live countries in the middle income category the world can further engage the government especially in strengthening their financial standing while at the same time pushing for social and structural reforms to ensure the countries develop and reduce poverty largely. In accelerating globalization the world thus focuses on coming up with various strategies associated with lending funds and working with governments. Such strategies involve longer-term finances that are secured, providing advice to the respective countries, and at the same time help in addressing issues associated with sectoral, structural and social policies (Abonyi & Van, 2010). Such measures will further enable the acceleration of globalization as they enhance the movement of resources in terms of finances together with ideas, people and the integration of trade as the respective countries develop. Furthermore, the World Bank will contribute greatly to the flow of resources including human and financial resources from different countries especially those that want to invest in the respective countries especially the low and middle-income countries. Therefore the World Bank has the role of lending and providing advisory services while working with the respective governments throughout the world to ensure that international trade is enhanced globally and investments across the borders boosted to further accelerate globalization.Order Unique Answer Now