Abstract
Abstract. World Bank lending policies have seen considerable changes in the last half a century. Though the main objectives of establishment of World Bank after the second World War was to provide financial assistance and participate in the reconstruction of the post war devastated economies but within fifty years of its foundation, World Bank has changed its sole objective from providing project based lending to sectoral interference in the economies with policy prescriptions. This policy shift from the World Bank side has witnessed new programmes of lending called Structural Adjustment Loans. This article reviews the original objectives of the Bank and the transformation towards Structural Adjustment Lending which has changed the basic economic policies of many borrower countries and the economies of the world.
Keywords. World Bank, conditionality, Structural Adjustment Loans, Macroeconomic policies.
JEL. E44, E62, F35, H81.
References
Bhambri, C. P. (1980). The World Bank and India. New Delhi: Vikas Publishing House.
Gilbert, Christopher L and Vines, David (2000). The World Bank Structure and Policies. UK: Cambridge University Press.
Mahendrapal (1985). The World Bank and Third World Countries of Asia. New Delhi: National Publishing House.
Reddy, Y. Venugopal (1985). World Bank: Borrower’s Perspective. New Delhi: Sterling Publishers Pvt. Ltd.
The World Bank (1985). Annual Report. Washington D.C.: World Bank.
The World Bank (1986). The World Bank Annual Report. Washington D.C.: Oxford University Press.
The World Bank (1987a). Annual Report. Washington D.C.: Oxford University Press.
The World Bank (1987b). Development Report. Washington D.C.: Oxford University Press.
The World Bank (2001). Knowledge and Resource for Development. Washington D.C.: The World Bank.
