Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: harpseal
All very good suggestions, but I question the value of this one:

...[end] support of World Bank programs that subsidize the outflow of Capital would be another.

Actually the World Bank is more-or-less self-supporting in that it "loans" money from the proceeds of its $20 billion investment portfolio (also, all of its day-to-day operating expenses come from those investments). Donor nations own proportionate "shares" in the bank based on past contributions, and the U.S. is of course the largest "shareholder" (Japan is second).

And though WB projects are of questionable value, it's also the case that most projects are won by American companies employing American workers. So a large portion of America's previous WB "investment" does in fact come right back to America.

At this very moment, there's actually some rumbling going within the development community about the number (and value) of contracts won by American firms. It seems lost on the complainers that contracts are won in competitive bidding, with the recipient nation having the most say in who does or doesn't measure up. In other words, the recipient nations most often select American companies to perform WB projects.

17 posted on 08/17/2003 8:09:58 AM PDT by angkor
[ Post Reply | Private Reply | To 9 | View Replies ]


To: angkor
Then why are there continuing busget items allocating money to the World Bank?
18 posted on 08/17/2003 8:23:57 AM PDT by harpseal (Stay well - Stay safe - Stay armed - Yorktown)
[ Post Reply | Private Reply | To 17 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson