Introduction
The presentation highlighted the structure and functions of the World Bank and the United Nations in the global arena. The discussion centered on the reasons behind the formation of the two organizations and their sources of funding. A comprehensive assessment of their specific roles concerning the alleviation of poverty, the promotion of development, and the maintenance of peace was presented. The contributions made by the World Bank and the United Nations have saved the world’s economy and peace structure from imminent collapse.
Discussion
The presentation highlighted numerous lessons that provided vital insight into the functioning of global systems. For instance, the World Bank’s role as an arbiter of shared prosperity is essential for the elimination of poverty and the enhancement of equality as evidenced by its support of South Africa’s Eskom Coal-fired Electricity Project. The organization has demonstrated a renewed commitment to financing energy projects as evidenced by the fact that it has funded projects over 500 energy-linked worth an estimated US$63 billion in over 110 nations since 2010. (Kim & Lee, 2021). The World Bank’s increased politicization of global governance is evidenced by the reform process that involved consultations with 8000 stakeholders in 64 member states (Dann & Riegner, 2019). In addition, the World Bank relies on verifiable scientific evidence when choosing projects to support in its quest to eradicate poverty and inequality.
The aspects of the presentation I liked included the explication of the World Bank’s structure and the assessment of some of the projects it supports. The demystification of the organization’s sources of funding was particularly intriguing. In addition, the evaluation of specific projects helped to contextualize the people’s issues, thus demonstrating the important role the World Bank plays in improving their quality of life.
Conclusion
The United Nations and the World Bank play critical roles in the global arena. The United Nations serves as a central point for the analysis of sensitive political and security issues as well as the proposal of viable multilateral solutions. The World Bank is an instrument for the promotion of equality, the eradication of poverty, and the maintenance of economic stability. The aforementioned organizations are essential for a prosperous and peaceful world.
References
Dann, P., & Riegner, M. (2019). The World Bank’s environmental and social safeguards and the evolution of global order. Leiden Journal of International Law, 32(3), 537–559.
Kim, J. W., & Lee, J. S. (2021). Greening energy finance of multilateral development banks: Review of the World Bank’s energy project investment (1985–2019). Energies, 14(9), 2648.