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What's wrong with the World Bank?
ireland / britain | miscellaneous | opinion / analysis Monday November 12, 2007 03:37 by Paddy Rua - WSM (Lucy Parsons branch)
On the 12th and the 13th of November, Ireland will be the host country to a meeting of the International Development Association (IDA), the branch of the World Bank which deals with lending to the poorest countries of the world.
The World Bank and its sisters organisations of global capitalism, the IMF and WTO have their origins in the United Nations Monetary and Financial Conference at Bretton Woods, New Hampshire, in July 1944. Although the World Bank attempts to present the goal of the organisation as “reducing poverty”, this has never been their objective. Their main objective is to fund large-scale power and infrastructure projects in the third world to prepare the way for the exploitation of these countries natural resources and cheap labour by northern corporations.