World bank and the European union The World Bank is an international financial institution that provides loans

to developing countries for capital programs. The World Bank is a lending institution that funds essential infrastructural req uirement, globally. Headquartered in Washington D.C., this fiscal institution is banked upon heavily by the governments of the world for timely dispensing of fu nds to support the development of major utilities and services. The current 'gre en' focus of the World Bank has taken the 1944 initiative to a new level. The mo st powerful countries in attendance were the United States and United Kingdom, w hich dominated negotiations. John Maynard Keynes and Harry Dexter White are the founding fathers of World Ban k. World Bank has 30 founder members. McNamara served as head of the World Bank from April 1968 to June 1981, when he turned 65. As World Bank President, McNama ra declared at the 1968 Annual Meeting of the International Monetary Fund and th e World Bank Group that countries permitting birth control practices would get p referential access to resources. The International Bank for Reconstruction and Development (IBRD) has 188 member countries, while the International Development Association (IDA) has 172 members . Each member state of IBRD should be also a member of the International Monetar y Fund (IMF) and only members of IBRD are allowed to join other institutions wit hin the Bank (such as IDA) South Sudan became the newest member of the World Bank. World Bank membership wi ll help South Sudan gain access to low interest loans and technical advice. The European Union (EU) is an economic and political union of 27 member states w hich are located primarily in Europe. Its capital is de facto Brussels. The EU o perates through a system of supranational independent institutions and intergove rnmental negotiated decisions by the member states. France, West Germany, Italy, The Netherlands, Belgium and Luxembourg are the fou nding members of EU. The European Union has its headquarters in the Berlaymont B uilding in Brussels, which is the capital of Belgium The European Union is composed of 27 sovereign member states. Bulgaria is the la st member to join the European Union. Croatia is expected to become the 28th mem ber state of the EU on 1 July 2013 after a referendum on EU membership was appro ved by Croatian voters on 22 January 2012. Brussels (Belgium) is considered to b e the head quarters of European Union. Operational country Bangladesh joins the World Bank on Aug 17, 1972. The World Bank (WB), Internatio nal Monetary Fund (IMF) and the World Trade Organization (WTO) are the three mos t important agencies in the development of the countrys economy. In fact, they ar e the core agencies in the economic development of Bangladesh. Functions & Activities The functions that World Bank performs are as follows: poverty reduction and the sustainable growth in the poorest countries, especiall y in Africa; solutions to the special challenges of post-conflict countries and fragile state s; development solutions with customized services as well as financing for middle-i ncome countries;; Pulling together the best global knowledge to support development. It refers to the raising of the productive capacity of a country through the int roduction of policies designed to enhance the productivity of land, labor and ca pital, raise standards of living and reduce or alleviate the poverty of the inha bitants of the country. At a minimum, economic development has a growth and a di stributive dimension. Bangladesh has maintained an impressive track record on growth and development.

In the past decade, the economy has grown at nearly 6 percent per year, and huma n development went hand-in-hand with economic growth. There are still many under developed regions so the main purpose is to make the regions more developed and industrialized. As the country has tendency thats why world bank has interest in helping Bangladesh. The World Bank is still not satisfied with Bangladeshs recent anti-corruption mov e over the Padma bridge issue despite resignation of a key minister. One of the four major conditions the WB had tagged with the bridge financing was to send on leave the senior officials including a minister, who had been accuse d of corruption in the project. In line with the condition, the government has s ent a former secretary on leave besides the resignation of Abul Hossain. However , it has not yet made any decision about sending another individual, who enjoys the status of a minister, on leave although the person was on WBs suspect list. As a result, the WB was not convinced with the government action and still had c oncern about Bangladeshs intention to fight corruption. European Union assistance to Bangladesh dates from the beginning of EC-Banglades h. Current cooperation between the EU and Bangladesh is based on a 7-year bilate ral cooperation strategy (2007-2013), for which the starting point was Banglades hs Poverty Reduction Strategy and its efforts towards reaching the Millennium Dev elopment Goals (MDGs). Purpose EU agreements in Bangladesh To support sustainable economic and social development of Bangladesh and particu larly of the poorest sections of its population, with special emphasis on women, taking into account its Least Developed Country status; To secure the conditions for and to promote the increase and development of twoway trade between the Parties in accordance with the Agreement establishing the World Trade Organization (WTO) and to assist Bangladesh in diversifying its prod uctive potential; To promote investment and economic, technical and cultural links in their mutual interest; To pursue equilibrium between policies of substantial economic growth, social de velopment and conservation of natural environment. In 1989 The European Commission upgraded its representation in Bangladesh, estab lishing a full fledged delegation office in Dhaka. In 2002 The European Commission widened its development approach in Bangladesh b y including human and social development as well as economic development and gov ernance. And in 2008 Photo voter registration of over 80 million voters in Bangladesh com pleted successfully. The European Commission was the largest provider of financi al assistance to this project.