The World Bank's increasing attention to issues of gover-nance is an important part of our efforts to promote equitable and sustainable development. This booklet, based on the work of a 1991 Bank task force, addresses ment lending could not achieve its objectives in the absence of an appropriate policy framework. A landmark in the history of world economic cooperation is the creation of the 16 Mar 2004 1) The Five Primary Objectives as Outlined in Article 1of the Articles of The Three Primary Functions of the International Monetary Fund. 13 May 2009 IMF is UNO recognized international monetary fund or reserve which helps its members. Objectives of WTO. (i) to implement the new world trade system as visualised in the Agreement; (ii) to promote World Trade in a manner that benefits every country; (iii) to ensure that developing countries secure a better balance in the sharing of the advantages resulting from the expansion of international trade corresponding to their The objective of the World Bank's work in the Financial Management (FM) Sector is to support the achievement of development results by providing reasonable assurance on borrowers' use of Bank funds and by helping partner countries improve their financial management. FY09, a year marked by the global financial crisis, underscored the Maintenance of stable exchange rate is another important function of the IMF. It prohibits multiple exchange rates. It is to be remembered that unlike the World Bank, the IMF is not a development agency. Instead of providing development aid, it provides financial support to tide over BOP difficulties to its members. Organisation and Management The functions performed by the World Bank follow from the objectives set out in its articles when it was formed. They can be summed up as follows. (a) It grants loans for long and medium terms: Loans may be divided in two types: Reconstruction Loans and Development Loans. The first is given to countries" damaged by the last war, the second to The functions of various banks may be different. In India, Reserve Bank of India act as the central bank and under its control comes various banks like commercial banks, cooperative banks, Regional Rural Banks, NABARD (National Bank Agriculture and Rural Development). But functions of a bank is mainly understood as functions of a commercial bank. ADVERTISEMENTS: The World Bank: Functions, Organisation, Operations and Criticism! The International Bank for Reconstruction and Development (IBRD), better known as the World Bank, was established at the same time as the International Monetary Fund to tackle the problem of international investment. ADVERTISEMENTS: Since the IMF was designed to provide temporary assistance in correcting the the World Bank was used at an of #cial level to indicate IBRD and IDA together (but not the IFC). Later, the entire group was called the World Bank Group : IBRD plus IDA, IFC, the Inter- clear delineation between the growth phase and the social objectives phase. Second, hints of opposing voices could already be heard during its # rst World Bank Staff Working Paper no. 582. 4. Gordon, David. Development Finance Companies, State and Privately Owned: A Review. World Bank Staff Working Paper no. 578. 5. Gould, David J., and Jose A. Amaro-Reyes. The Effects of Corruption on Administrative Performance: Illustrations from Developing Countries. World Bank Staff Working