Sample Essay
One of the moves made to help developing nations specifically is the creation of the MIGA—Multilateral Investment Guarantee Agency and the International Finance Corporation. The Multilateral Investment Guarantee Agency is designed to encourage investment in developing investment.
A lot of bodies are reluctant to invest in developing nations because of the large amount of financial risk associated. For example the MIGA provides some kind of insurance if a company loses money due to sudden changes in state policy. Around half of the money they invest is in projects which are considered to be high-risk and a large part of this is focused in Africa. The IFC also part of the World Bank Group or one of the Bretton Woods Institutions is basically designed to provide financing to projects all over the world. The IFC analyzes each entrepreneur and project, and invest if the application is approved by their Board. Eventually they with draw
funding (by selling their equity share) when the business has been established.
The st develpoing of thum of all this is that Bretton Woods Institutes have played a major role in the global economy and still are. However what is important to recognize that the environment of the developed world is very different from that of the developing world and these institutions need to recognize these issues.
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