The World Bank comprises a pair of international aid organizations that work to strengthen and expand markets and economies in the developing world. Through the International Bank for Reconstruction and Development and the International Development Association, emerging nations have access to funding that can boost their abilities to meet the needs of their own peoples and join vital international markets. Three additional divisions of the Bank combine with the IBRD and the IDA to form the World Bank Group.
The World Bank provides grants, loans with low interest rates, and economic credits to countries in need, most often with the purpose of investing in infrastructure development, post-conflict remediation, educational opportunities, medical care, and financial and resource management.
In 1944, representatives from a group of nations met at Bretton Woods, New Hampshire, to lay the groundwork for the reconstruction of European countries devastated by the Second World War. In 1947, the World Bank made its first loan of $250 million to assist the French people with post-war economic needs.
During the 1980s, the World Bank faced a number of issues related to the rescheduling of debt and attempted to focus to a greater extent on environmental and social concerns. After extensive reforms, the Bank has begun to foster increased coordination among its various divisions and to achieve enhanced levels of customer service and transparency. In recent years, the World Bank has assisted in operations related to rebuilding after natural disasters and post-war amelioration in locations such as Africa, Eastern Europe, and the Pacific Rim.
Steven Guynn has assisted clients working in high-tech, oil and gas, telecommunications, retail, and other industries. Mr. Guynn’s insights into capital market funding and private equity matters have resulted in significant benefits to his clients and the overall global economy.