Introduction

As one of the most powerful multilateral development institutions in the world, the World Bank needs no introduction. It is a complex organization with the mandate to enable the economic development of Third World countries. Staffed by 800 economists, more than 3,000 engineers, technical experts, and other professionals, and allotted a budget of US$25 million for research alone, the World Bank overshadows nearly all other entities working on development. An annual loan budget of about US$15-20 billion enables the Bank to translate ideology into policy and exercise considerable influence in the affairs of developing countries. This observation has led commentators to conclude that “the Bank has more to say about state policy than many states” themselves (George and Sabelli 1994: 1).