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WORLD BANK HISTORY CONT'D.
Overtime the bank has been joined by other agencies resulting in greater flexibility and influence at various levels.1956 saw the creation of the Economic Development Institute which offers courses in development for senior officials of member countries. This agency was financed considerably by the Ford and Rockefeller foundations and a large number of persons have passed through the institution. The EDI also promotes international cooperation with other agencies such as the FAO.
In 1960, as a result of heavy pressure from developing countries for a lending agency that was more accessible, the international Development Association was formed. This agency basically provides loans to the poorer countries for long periods. Usually they are given 30 -40 year repayment periods with a 10 year grace period, no interest and a mere service charge. Its purpose is "to market human vision, experience, capital and energy to build the wealth of nations. Since its......
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Title: Caribbean Integration
Approximate Word Count: 892
Approximate Pages: 4 (250 words per double-spaced page)
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