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The World Bank | |
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| Founded | July 1944 |
The World Bank is a neoliberal financial institution. It exists to serve the interests of Western countries and its leaders are usually U.S. citizens that are supported by the U.S. Congress.[1]
History
The World Bank was founded at the end of the Second World War and initially loaned money to Western European governments. In the 1960s and '70s, it supported the industrialization of agriculture in Third World countries. In 1991, the World Bank encouraged moving industries that cause high amounts of pollution to Third World countries.[1]
References
- ↑ 1.0 1.1 The Thistle (2000). The IMF and the WORLD BANK: Puppets of the Neoliberal Onslaught, vol. 13. Massachusetts Institute of Technology.