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International Bank for Reconstruction and Development



1. International Bank for Reconstruction and Development, also known as the World Bank, is
registered to be a specialized United Nations Agency established at the Bretton Woods Confer­
ence in 1944. A related institution. International Monetary Fund (IMF), was created at the same
time. The chief objectives of the Bank, as stated in the articles of agreement, are to assist in the
reconstruction and development of territories of members by facilitating the investment of capital
or productive purposes. It is also aimed to promote private foreign investment by means of guar­antees or participation in loans and to supplement private investment by providing, on suitable
conditions, finance for productive purposes out of its own capital. The Bank grants loans only to
member nations, for the purpose of financing specific projects.

2. Before a nation secures a loan, advisers and experts representing the Bank will have to deter-
mine that the prospective borrower can meet conditions stipulated by the Bank. Most of these condi -
tions are designed to ensure that loans will be used productively and that they will be repaid. The
Bank requires the borrower be unable to secure a loan for the particular project from any other source
on reasonable terms and the prospective project be technically feasible and economically sound. To
ensure repayment, member governments must guarantee loans having been made to private con-
cerns within their territories. Having made the loan, the Bank requires periodic reports both from the
borrower and from its own observers on the use of the loan and on the progress of the project.

3. In the early period of (he World Bank's existence, loans were granted chiefly to European
countries and were used for the reconstruction of industries damaged or destroyed during World
War II. Since the late 1960s, however, most loans have been granted to economically developing
countries in Africa, Asia, and Latin America. The Bank gave particular attention to projects direct-
ly benefiting the poorest people in developing nations by helping them to raise their productivity,
The World Bank will provide loans, if they want to gain access to such necessities as safe water and
waste-disposal facilities, health care, family-planning assistance, nutrition, education, and hous-
ing. Direct involvement of the poorest people in economic activity was being promoted by provid-
ing loans for agriculture and rural development, small-scale enterprises, and urban development.

4. World Bank funds are provided primarily by purchase of capital shares, the minimum number
of shares to be subscribed according to the relative strength of its national economy. Not all the funds
subscribed arc immediately available to the Bank; only about 8.5 percent of the capital subscription of each member nation actually is paid into the bank. The remainder will have to be deposited only if,



and to the extent that, the Bank calls for the money in order to pay its own obligations to creditors. There has never been a need to call in capital. The Bank's working funds are derived from sales of il interest-bearing bonds and notes in capital markets of the world, from repayment of earlier loans, and from profits on its own operations. It has earned profits every year since 1947.

5. All powers of the Bank are vested in a board of governors, comprising one governor appoint-
ed by each member nation. The board meets at least once annually. The governors delegate most
of their powers to 21 executive directors to meet regularly at the central headquarters of the Bank
in Washington, D.C. After appointing five of the executive directors by the five member states
holding the largest number of capital shares in the Bank, the remaining 16 directors are elected by
the goverrnors from the other member nations and serve 2-year terms. On electing the executive
directors for a 5-year term, they choose the president of the World Bank, who must be neither a
governor nor a director.

6. The World Bank has been heavily criticized in recent years for its considerable wrongdoing,
i.e. poor performance in development economics, especially with regard to the social and environ-
mental consequences of the projects it supported in Third World countries. However, it is arguable
that it is less at fault than many of the corrupt or incompetent regimes whose schemes it is called
on to fund. In any case, in spite of diminishing the bank's role in profitable projects of developing
countries with the vast influx of private capital, such social spheres as health, education, and other
fields remain in need of an institution such as the World Bank.

2. Перепишите и письменно переведите на русский язык следующие предложения. Обратите внимание на перевод зависимого и независимого (самостоятельного) причастных оборотов.

1. То ensure repayment, member governments must guarantee loans having been made
to private concerns within their territories.

2. Having made the loan, the bank requires periodic reports both from the borrower and
from its own observers on the use of the loan and on the progress of the project.

3. World Bank funds are provided primarily by purchase of capital shares, the minimum
number of shares being subscribed according to the relative strength of its national economy.

3. Перепишите и письменно переведите на русский язык следующие предложения.
Помните, что объектный, именительный и абсолютный инфинитивный обороты соответствуют придаточным предложениям.

1. International Bank for Reconstruction and Development, also known as the World Bank
is registered to be a specialized United Nations agency established at the Bretton Woods
Conference in 1944.

2. Most of these conditions are designed to ensure that loans will be used productively
and that they will be repaid.

3. The Bank requires the borrower be unable to secure a loan for the particular project
from any other source on reasonable terms and the prospective project be technically
feasible and economically sound.

4. The governors delegate most of their powers to 21 executive directors to meet regularly
at the central headquarters of the bank in Washington, D.C.

4. Перепишите и письменно переведите на русский язык следующие сложные предложения. Обратите внимание на перевод обстоятельственных предложений условия и времени.

1. Before a nation secures a loan, advisers and experts representing the Bank will have to
determine that the prospective borrower can meet conditions stipulated by the bank.

2. The World Bank will provide loans, if they want to gain access to such necessities as
safe water and waste-disposal facilities, health care, family-planning assistance, nutrition,
education, and housing.

3. The remainder will have to be deposited only if, and to the extent that the Bank calls for the money in order to pay its own obligations to creditors.

5. Перепишите и переведите предложения, содержащие герундий. Обратите внимание на функцию герундия в предложении.

1. After appointing five of the executive directors by the five member states holding the
largest number of capital shares in the Bank, the remaining 16 directors are elected by
the governors from the other member nations and serve 2-year terms.

2. On electing the executive directors for a 5-year term, they choose the president of the
World Bank, who must be neither a governor nor a director.

3. The World Bank has been heavily criticized in recent years for its considerable
wrongdoing, i.e. poor performance in development economics, especially with regard to
the social and environmental consequences of the projects it supported in Third World countries.

4. In any case, in spite of diminishing the Bank's role in profitable projects of developing
countries with the vast influx of private capital, such social spheres as health, education,
and other fields remain in need of an institution such as the World Bank.

ВАРИАНТ 3

I. Прочитайте и устно переведите весь текст.





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