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developing countries at more advanced stages of economic and social
growth. Also, funds are lent only to members of the IMF, usually when
private capital is unavailable at reasonable terms. Loans generally
have a grace period of five years and are
repayable over a period of
fifteen or fewer years.
The projects receiving IBRD assistance usually require
importing heavy industrial equipment and this provides an export
market ror many US goods. Generally bank loans are made to cover
only import needs in foreign convertible currencies and must be
repaid in those currencies at long-term rates.
The government assisted in formulating and implementing an
effective and comprehensive strategy
for the development of new
industrial free zones and the expansion of existing ones; reducing
unemployment, increasing foreign-exchange earnings and
strengthening backward linkages with the domestic economy;
alleviating scarcity in term financing; and
improving the capacity of
institutions involved in financing, regulating and promoting free
zones.
The World Bank lays special operational emphasis on
environmental and women’s issues. Given that the Bank’s primary
mission is to support the quality of life of people in developing member
countries, it is easy to see why environmental and women’s
issues are
receiving increasing attention. On the environmental side, it is the
Bank’s concern that its development funds are used by the recipient
countries in an environmentally responsible way. Internal concerns,
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as well as pressure by external groups, are
responsible for significant
research and projects relating to the environment.
The women’s issues category, specifically known as Women In
Development (WID) is part of a larger emphasis on human resources.
The importance of improving human capital and improving the welfare
of families is perceived as a key aspect of development. The WID
initiative was established in 1988 and it is oriented to increasing
women’s productivity and income. Bank lending for women’s
issues is
most pronounced in education, population, health and nutrition and
agriculture.
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