The Failure Of The World Bank Essay - 1531 Words

The Failure of the World Bank’s Sardar Sarovar Dam project in India Lira Samanta The World Bank is known to fund many infrastructure projects in developing countries, presumably as a means to achieve their goals of increasing development in those countries. Hydroelectric dams are some of the much-maligned infrastructure projects funded by the World Bank. In a report authored by employees of the World Bank itself, the authors themselves highlight the â€Å"adverse environmental and related social impacts† of large dams, while attempting to draw a distinction between â€Å"relatively good dams and bad dams†. (Ledec Quintero, 2003) One example of a hydroelectric dam funded by the World Bank is the Sardar Sarovar Dam in India. The World Bank funded Sardar Sarovar in 1985, approving $450 million in loans for the development of this dam. (Bosshard, 2008) This development was envisioned as part of the Narmada Valley Development Project, also known as the â€Å"Narmada Project†, the scope of which included the provisioning of thirty large dams, 135 medium dams, and 3000 small dams. Of these, the Sardar Sarovar is one of the larger and most publicly troubling projects. The Indian government’s many claims about this dam have included that it would irrigate roughly 1.8 million hectares of land in the state of Gujarat, irrigate 73,000 hectares of land in the nearby state Rajasthan, and provide drinkable water to roughly 8000 Gujarati villages and 125 urban centers. (Narula, 2008) Despite theseShow MoreRelatedThe Success And Failure Of World Bank2873 Words   |  12 Pagesâ€Æ' Topic 17 : A Critical Analysis on the Success and Failure of World Bank History of World Bank The World Bank is founded in 1944 shortly before the end of World War II by 44 nations that met at Bretton Woods, New Hampshire. 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It is very difficult to succeed in this dynamic competitive world. Due to globalization, the competition has immensely increased. This has made the business perpetual existence and success questionable. Nowadays, business has to compete with larger number of competitors than they used to before. There are different reasons behind businesses failure. Few of the major issues that business might face hindering their perpetual existence a nd performance areRead MoreEssay On Stability Of River Banks897 Words   |  4 Pagesbecoming at risk of mass failure. Ultimate failure of a mass of soil is currently the most important threat to the long term stability of the Three Gorges dam (the largest dam in the world) and the 6300 km long Yangtze river, where up to 41.1% of the river basin area suffers from soil erosion problems (Peoples Daily Online, 2001). 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Gup begins his article by reviewing the history and importance of government bailouts for corporate failures. In his article on â€Å"What Does Too Big to Fail Mean?† he uses rhetoric questions in order to engage the readers in his analysis of government bailouts. For instance, he poses the question, â€Å"what should government s and government regulators do about it?† (GupRead MoreEffects of Barings Collapse on the Banking Industry1226 Words   |  5 PagesEffects of Barings Collapse on the Banking Industry The uncovered loss of GBP 830 million led to a liquidity crisis for the Barings Bank , the collapse of the bank, which shocked all people, not only the financial world. Over the weekend of February 25 and 26, the management of Barings tried to arrange for a bailout by the Bank of England. Several investment banks gathered to discuss the possibility of raising enough private money to recapitalize Barings before the Tokyo market reopened on MondayRead MoreThe Financial Crisis Of 20081747 Words   |  7 Pageseconomic crisis of 2008 was one for the ages, it changed the world of investing forever. That year, the stock market crashed, bank failures and the infamous wall street bailout that can all be traced back to the subprime mortgage crisis.. The 2008 economic crisis rocked the global economy for the worst, and to this day the United States is trying to recover from the impact that the crisis had. In order to understand why exactly the banks failed people have to understand the subprime mortgage crisisRead MoreInternational Monetary Fund : The Imf And The World Bank1252 Words   |  6 PagesThe International Monetary Fund, otherwise known as the IMF and the World Bank are two of the most economic organizations. While they are both economic organizations, they have different objectives. In order to understand these objectives, one must know why these organizations were formed and what if anything they have accomplished. Based on said accomplishments and also based on their initial goals, one can infer which of the two has been a success. Therefore, it can be said that when it comes toRead More bank failures Essay1198 Words   |  5 Pagesnet/2001/article/bank_failures.htm Bank Failures We have written before about the remarkable ability of banks to create money when making loans, and of their equally remarkable ability to multiply these newly created-from-nothing bank deposits via fractional reserve banking. What we have written is true, and easily verified. But banks fail! That fact is equally true, and easily verified as well. How can we reconcile these apparently contradictory facts? If banks can create, and multiply, money, how