ABSTRACT
The World Bank group, including International Development Association (IDA) and International Finance Corporation (IFC), forms the major multilateral agency for chanelling financial resources to the developing countries. Since it insists on competitive bidding fqt all tenders on World Bank-aided projects, it encourages free international trade directly. In principle the criteria for loans from IDA are the same as for World Bank loans. One was the creation in 1956 of the IFC, the other was to lend to investment banks and development finance companies in the LDCs for on-lending to private enterprises for industrial and agricultural development. In this section some overall assessment of what appear to be the more important controversies is attempted. In the development task the Bank’s main objectives are to stimulate, support and provide from its own resources flows of capital into worthwhile projects and programmes in the developing countries.
