The World Bank and the Gods of Lending

Front Cover
Kumarian Press, 2008 - Business & Economics - 299 pages
1 Review
Uncovering the World Bank’s loan programs in the developing world in The World Bank and the Gods of Lending, author Steve Berkman finds nothing but mismanagement and hypocrisy: decades of assistance without any significant improvement in the lives of the poor; billions loaned for improving governance, health care and education with little to show for it; and donor funds given to dysfunctional government institutions or officials with a history of looting national treasuries. With sixteen years as a Bank staff member and consultant, Berkman presents compelling evidence of deceptive reporting and lack of due diligence as billions of dollars are wasted every year on corrupt and ill-conceived programs.

Using internal reports and memos, project documents and the Bank’s Annual Reports as reference, Berkman demonstrates management’s obsession with lending despite the high fiduciary risks involved. Taking the reader inside several project fraud investigations, he exposes the ease with which funds can be stolen from the Bank’s portfolio, and the degree to which these thefts are ignored. Painting a picture of an institution that is run by a bloated bureaucracy, The World Bank and the Gods of Lending proposes changes that will rouse the Bank from its bureaucratic complacency and restore its central mission of alleviating poverty.
 

What people are saying - Write a review

User Review - Flag as inappropriate

Bill Gates, World Genocide Project ....
A
A
AFAIRS PROYECT GENOCIDE - BILL GATES .....
A
A
GENOCIDE PROJECT - REPORT TO MINISTERS LATIN AMERICAN HOLOCAUST Chavez Julio Cesar Pineda WWW.docs.google.com / open id = 0B7rdd1w6dkcSamZTX1ZNWWZmVkk
A
A
A
Bill Gates, World Genocide Project ....
A
WEBSITE:
A
http://WWW.docs.google.com/open?id=0B7rdd1w6dkcSamZTX1ZNWWZmVkk
A
A
A
Thirty-eight of the largest U.S. billionaires joined the initiative of the founder of Microsoft, Bill Gates and Warren Buffet financial guru, to donate at least half of their fortunes, which together are around 230,000 million. The founder of CNN, Ted Turner, filmmaker George Lucas and the hotelier Barron Hilton, the list
A
Thirty-eight of the largest U.S. billionaires have joined the initiative of the founder of Microsoft, Bill Gates and Warren Buffet financial guru, to donate at least half of their fortunes, which together are around 230,000 million, officials said Wednesday the proposal.
A
Among the tycoons who have accepted the challenge are the mayor of New York, Michael Bloomberg, and the co-founder of Oracle, Larry Ellison, and the media executive Barry Diller and CNN founder Ted Turner.
A
The list also includes the likes of George Lucas, energy tycoon T. Boone Pickens, the hotelier Barron Hilton and David Rockefeller.
A
Gates and Buffett, who Forbes magazine considered two of the world's richest men with a net set of 90,000 million dollars, last month launched the initiative "The Giving Pledge" ("The commitment to donate" to the to convince the country of billionaires who devote their wealth to philanthropy.
A
"We just started and we've gotten a terrific response," Buffett said in a statement, owner and financial holding company Berkshire Hathaway known as the "Oracle of Omaha" for his ability to predict the performance of markets.
A
In addition to asking for money, Gates and Buffet also asked who would accept his challenge exhibited in a letter the reasons why they decided to donate most of their wealth.
A
Bloomberg, who made his fortune from the current financial information company that bears his name, said in his letter that philanthropy is the best investment in the future of new generations.
A
"If you do something for your children and show them how much you love, the best thing you can do with difference is to support organizations that build a better world for them," he added.
A
Lucas, father of the sagas of the "Star Wars" and "Indiana Jones," he said, meanwhile, that his interest as donor centers on the world of education.
A
"It is the key to our survival as a species. We have to plan for our collective future, and the first step are social instruments, emotional and intellectual we provide to our children, "he said.
A
The U.S. has around 400 fortunes in excess of one billion dollars, accounting for 40 percent of assets in this level that is in the world.
A
If the millionaires who appear on the list of the 400 richest U.S. donate half of its net assets, could raise for charity and social over 600,000 million dollars, according to estimates by Fortune Magazine
 

Contents

V
9
VI
19
VII
35
VIII
43
IX
57
X
75
XI
89
XII
103
XIX
189
XX
197
XXI
207
XXII
213
XXIII
221
XXIV
229
XXV
239
XXVI
249

XIII
121
XIV
139
XV
149
XVI
157
XVII
173
XVIII
183
XXVII
253
XXVIII
265
XXIX
271
XXX
277
XXXI
279
Copyright

Common terms and phrases

About the author (2008)

Following a varied career in industry and technical education, Steve Berkman joined the World Bank's Africa Region Group in 1983. Providing advice and assistance with capacity building and institutional development issues on Bank funded projects, he worked in all the major economic sectors throughout the region. Soon realizing that the Bank's lending program was exposed to high risk from corruption, his attempts to convince management of the extent of the problem were given little credence until the arrival of President James Wolfensohn in 1995. Retiring in that same year, he was called back from 1998 to 2002 to assist with the establishment of an Anti-Corruption and Fraud Investigation Unit during which time he was lead investigator on a number of corruption cases in Africa and Latin America. He has given presentations at various international anti-corruption forums and has provided assistance to the US Senate Committee on Foreign Relations for the enactment of legislation to reform the multi-lateral development banks and Senate passage of the United Nations Convention Against Corruption.

Bibliographic information