Higher education in Asian countries and the role of international ...

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Before the Bank embarked on its own institutional reforms in the early 1990s, it had to face a
strong criticism from international organizations, states and NGOs for its non-friendly programs
and policies for the developing countries. UNICEF in its report criticized the World Bank for
poor planning and ineffective policies that resulted in poor health, mal nutrition and low
education for millions of children in less developed or poor countries around the world (Cornia,
Jolly, & Stewart, 1988). The Bank was also criticized for the free market reform policies it
advocates that are often considered “harmful to economic development if implemented badly,
too quickly, in weak, uncompetitive economies” (MacClancy, 2002)
According to the IBRD now its aim is to reduce poverty in middle-income and creditworthy
poorer countries by promoting sustainable development through loans, guarantees, risk
management products, and analytical and advisory services (The World Bank-IBRD, 2010). The
IBRD activities include:
Long-term human and social development: human capital development, education, health
Agriculture and rural development: irrigation, rural services
Environmental protection: pollution reduction, establishing and enforcing regulations
Infrastructure development: roads, urban regeneration, electricity
Good governance: anti-corruption, legal institutions development, key policy and
institutional reforms
Favorable investment climate
IBRD has the largest country membership, highest visibility and the broadest mission as
compared to other institutions of the WBG. Likewise it has the biggest staff size in the Bank
Group, both at headquarters and in field offices around the world. It provides loans to its clients
on favorable terms in larger volumes, with longer maturities, and in a more sustainable manner
than the market provides. The cumulative lending of IBRD, since 1963, is more than $420 billion
US while during 2006 it made lending of $14 billion for 112 new projects.
2) The International Development Association (IDA):
Sixteen years after the creation of IBRD the International Development Association (IDA) was
established inside the World Bank in 1960, as a revolving fund, providing concessional loans to
the poorest countries subsidized by donor contributions and transfers from the IBRD (Weiss,
2008). IDA was created in response to the problem faced by poor countries as it was difficult for