Monday, January 03, 2005

The World Bank Contribution

I think we're about over this foolishness started by the UN saying that countries like the U.S. are "stingy" regarding contributions to disaster relief.

Since that comment was made, many sources have pointed out the varied types of U.S. contributions to disaster relief, including the large amount contributed privately by Americans. I'd like to highlight one more source of U.S. participation that you may not hear very much about.

This is a CNN list providing a Reuters report on the amounts pledged so far. Of course, these amounts don't include private contributions, the cost of military relief support, etc. On the list you'll note that the World Bank is shown as having pledged $250 million.

The World Bank Group, consisting of the International Bank for Reconstruction and Development and affiliated organizations, is a very important player in international development, to the tune of billions of dollars each year. It provides developing countries with loans, grants, policy advice, technical assistance, etc. It's also the world’s largest external source of funding for education and HIV/AIDS programs. Its programs are administered through about 100 country offices worldwide. More information is available at the World Bank web site.

Of the World Bank's 184 member nations, the U.S. is the by far the largest contributor, providing more than 16% of its funds. Japan is the next largest, with about 8%, followed by Germany with 4.5% and the U.K. and France with 4.3% each. In a rare but appropriate arrangement for an international organization, voting by member states is proportionate to contributions.

So, when you see the World Bank listed as having pledged $250 million, remember that over $40 million of that comes out of the pockets of U.S. taxpayers.

Stingy, are we?


Blogger RomanWanderer said...

Good call. I can't stand the 'they did, they didn't' pettiness, and this is a good way to show how wrong the complainers were.

4:32 PM, January 03, 2005  
Blogger USMC_Vet said...

Outstanding observation on The World Bank, Mr. Carter.

Will be linking to it in an entry tonight in my humble site.

Thanks for the digging you've done, sir.

8:19 PM, January 03, 2005  

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