International Organizations Lecture 2

An international financial institution founded in 1944, initially to rebuild Europe after WWII.

The original goal of the World Bank was focused on helping rebuild Europe after the destruction of World War II.

The original full name of the World Bank was the International Bank for Reconstruction and Development (IBRD).

The World Bank's primary target today is to reduce global poverty by funding programs that promote economic development and improving lives of the poorest.

The World Bank oversees development programs related to food production, healthcare, nutrition, and other essential aspects of human development.

The World Bank's expertise extends beyond finance and engineering into social sciences. Anthropologists and social scientists play crucial roles in project implementation.

Besides poverty reduction, another focus is on increasing incomes of the poorest 40% of the global population.

The World Bank collaborates with other international organizations like the World Trade Organization and the United Nations to achieve its goals.

The World Bank is an international financial institution that provides loans and grants to developing countries for economic development and poverty reduction.

The World Bank's original goal was to help rebuild Europe after World War II. However, its mission has evolved over time, and now focuses primarily on poverty reduction in developing countries.

The World Bank has been criticized for its role in displacement and social injustices. Critics argue that their projects often displace indigenous communities and prioritize economic development over social considerations.

The UN is funded by member states contributing financially based on their economic capacity. This financial support enables the UN to carry out its global operations and programs.

The Development Assistance Committee (DAC) represents members of the Organisation for Economic Co-operation and Development (OECD) and focuses on promoting international development cooperation.

NATO is a military alliance established in 1949 that aims to promote collective security in the North Atlantic region. Members agree to defend each other against attacks, originally formed to counter the Soviet Union.

One potential issue with intergovernmental organizations like the UN, OECD, or NATO is the imbalance of power, where strong nations have a more significant influence compared to smaller or developing nations.

The BRICS bloc was created as an alternative to the Western-dominated global order. It consists of Brazil, Russia, India, China, and South Africa, aiming to offer a different model for global development and cooperation.

BRICS countries represent over 45% of the global population.

The BRICS bloc aims to establish a more balanced global order that favors the South, decrease reliance on the US dollar, and create a BRICS bank as an alternative to the IMF and World Bank.

Despite being a bloc, BRICS countries don't necessarily agree on everything. Some are closer to the US, while others oppose Western influence.

The BRICS bloc initially comprised Brazil, Russia, India, China, and South Africa in 2009. In 2024, Iran, Egypt, Ethiopia, and the United Arab Emirates were added as prospective members, expanding the group to 10.

The BRICS countries, representing about 30% of the world's land surface, 45% of the global population, and 33% of global GDP, pose a geopolitical challenge to the G7 bloc (Canada, France, Germany, Italy, Japan, UK, US).

OPEC (Organization of the Petroleum Exporting Countries) is an intergovernmental organization of 13 countries, primarily focused on oil production and export. OPEC+ includes an additional 10 countries, bringing the total to 23.

OPEC countries, major oil exporters, influence global oil prices by adjusting production levels. They raise prices by reducing supply (scarcity) and lower prices by increasing supply (abundance), guided by the principle of supply and demand.

During the COVID-19 pandemic, the price of crude oil plummeted due to reduced demand (lockdowns) and limited storage capacity for excess oil production. The Russian invasion of Ukraine significantly impacted oil prices, leading to sharp increases in the price of gasoline due to global supply disruptions and sanctions on Russia.