Assignment on

International Business Management

Submitted to;
Mohammaad Emdadul Haque
Lecturer of Uttara University

Submitted by;
Suman Kumer Ghosh - M 21311121063
MBA (For BBA) 30th Batch

Table of Contents

Acknowledgement.
World Bank.
ISO (International Organization for Standardization).
WTO (World Trade Organization).
ILO (The International Labor Organization )
IMF (The International Monetary Fund)
IEC (International Electro technical Commission's )
IDA (The International Development Association )
Conclusion.
References.

Acknowledgement

First of all, I am expressing my sincere gratefulness to

Almighty for enabling me to prepare this Paper on
International Business.
The success of this Paper depends on the contribution of number of
people specially those who have shared their thoughtful guidance and
suggestions to complete this Paper. I am indebted to a number of persons
for their kind recommendation, information, direction, cooperation, and
their collaboration.

World Bank:

The World Bank is an International financial institution that provides technical and
financial assistance to developing countries for development programs (E.g.
Bridges, Roads, and Schools) with the stated goal of reducing poverty. The World
Bank is an international financial institution that provides loans to developing
countries for capital programmers. The World Bank has a goal of reducing poverty.
By law, all of its decisions must be guided by a commitment to promote foreign
investment, international trade and facilitate capital investment.
The World Bank differs from the World Bank Group, in that the World Bank
comprises only two institutions:
The International Bank for Reconstruction and Development (IBRD)
The International Development Association (IDA)
Whereas the latter incorporates these two in addition to three more:
International Finance Corporation (IFC)
Multilateral Investment Guarantee Agency (MIGA)

International Centre for Settlement of Investment Disputes (ICSID).

World Bank- History:

Conceived during World War II at Bretton Woods, New Hampshire, the World
Bank initially helped rebuild Europe after the war. Its first loan of $250 million
was to France in 1947 for post-war reconstruction. Reconstruction has remained an
important focus of the Bank's work, given the natural disasters, humanitarian
emergencies, and post conflict rehabilitation needs that affect developing and
transition economies.
Today's Bank, however, has sharpened its focus on poverty reduction as the
overarching goal of all its work. It once had a homogeneous staff of engineers and
financial analysts, based solely in Washington, D.C. Today, it has a
multidisciplinary and diverse staff including economists, public policy experts,
sectorial experts, and social scientists. 40 percent of staff is now based in country
offices.
The Bank itself is bigger, broader, and far more complex. It has become a Group,
encompassing five closely associated development institutions: the International
Bank for Reconstruction and Development (IBRD), the International Development
Association (IDA), The International Finance Corporation (IFC), the Multilateral
Investment Guarantee Agency (MIGA), and the International Centre for Settlement
of Investment Disputes (ICSID).

1989present;
Beginning in 1989, in response to harsh criticism from many groups, the bank
began including environmental groups and NGOs in its loans to mitigate the past
effects of its development policies that had prompted the criticism.[7]:9397 It also
formed an implementing agency, in accordance with the Montreal Protocols, to
stop ozone-depletion damage to the Earth's atmosphere by phasing out the use of
95% of ozone-depleting chemicals, with a target date of 2015. Since then, in
accordance with its so-called "Six Strategic Themes," the bank has put various
additional policies into effect to preserve the environment while promoting
development. For example, in 1991, the bank announced that to protect against
deforestation, especially in the Amazon, it would not finance any commercial
logging or infrastructure projects that harm the environment.

Member Countries;
The organizations that make up the World Bank Group are owned by the
governments of member nations, which have the ultimate decision-making power
within the organizations on all matters, including policy, financial or membership
issues.
Member countries govern the World Bank Group through the Boards of
Governors and the Boards of Executive. These bodies make all major decisions for
the organizations.
To become a member of the Bank, under the IBRD Articles of Agreement, a
country must first join the International (IMF). Membership in IDA, IFC and
MIGA are conditional on membership in IBRD.
In tandem with the IMF, and in consultation with other World Bank Group staff,
the Corporate Secretariat vice Presidency coordinates the process for new
membership and maintains the information relating to the status of membership
which includes the membership lists.
International Bank for Reconstruction and Development
188countries
Country / Date of Membership
Afghanistan, Jul 14, 1995
Albania, Oct 15, 1991
Algeria, Sep 26, 1963
Angola, Sep 19, 1989

Country / Date of Membership

Liberia, Mar 28, 1962
Libya, Sep 17, 1958
Lithuania, Jul 6, 1992
Luxembourg, Dec 27, 1945

Antigua and Barbuda, Sep 22, 1983

Argentina, Sep 20, 1956
Armenia, Sep 16, 1992
Australia, Aug 5, 1947
Austria, Aug 27, 1948
Azerbaijan, Sep 18, 1992
Bahamas, The Aug 21, 1973
Bahrain, Sep 15, 1972
Bangladesh, Aug 17, 1972
Barbados, Sep 12, 1974
Belarus, Jul 10, 1992
Belgium, Dec 27, 1945
Belize, Mar 19, 1982
Benin, Jul 10, 1963
Bhutan, Sep 28, 1981
Bolivia, Dec 27, 1945
Bosnia and Herzegovina, Feb 25, 1993
Botswana, Jul 24, 1968
Brazil, Jan 14, 1946
Brunei Darussalam, Oct 10, 1995
Bulgaria, Sep 25, 1990
Burkina Faso, May 2, 1963
Burundi, Sep 28, 1963
Cambodia, Jul 22, 1970
Cameroon, Jul 10, 1963
Canada, Dec 27, 1945
Cape Verde, Nov 20, 1978
Central African Republic, Jul 10, 1963
Chad, Jul 10, 1963
Chile, Dec 31, 1945
China, Dec 27, 1945
Colombia, Dec 24, 1946
Comoros, Oct 28, 1976
Congo, Democratic Republic of, Sep
28, 1963

Macedonia, FYR of, Feb 25, 1993

Madagascar, Sep 25, 1963
Malawi, Jul 19, 1965
Malaysia, Mar 7, 1958
Maldives, Jan 13, 1978
Mali, Sep 27, 1963
Malta, Sep 26, 1983
Marshall Islands, May 21, 1992
Mauritania, Sep 10, 1963
Mauritius, Sep 23, 1968
Mexico, Dec 31, 1945
Micronesia, Federated States of, Jun 24,
1993
Moldova, Aug 12, 1992
Mongolia, Feb 14, 1991
Montenegro, Jan 18, 2007
Morocco, Apr 25, 1958
Mozambique, Sep 24, 1984
Myanmar, Jan 3, 1952
Namibia, Sep 25, 1990
Nepal, Sep 6, 1961
Netherlands, Dec 27, 1945
New Zealand, Aug 31, 1961
Nicaragua, Mar 14, 1946
Niger, Apr 24, 1963
Nigeria, Mar 30, 1961
Norway, Dec 27, 1945
Oman, Dec 23, 1971
Pakistan, Jul 11, 1950
Palau, Dec 16, 1997
Panama, Mar 14, 1946
Papua New Guinea, Oct 9, 1975
Paraguay, Dec 28, 1945
Peru, Dec 31, 1945
Philippines, Dec 27, 1945

Congo, Republic of, Jul 10, 1963

Poland, Jun 27, 1986
Costa Rica, Jan 8, 1946
Portugal, Mar 29, 1961
Cote d'Ivoire, Mar 11, 1963
Qatar, Sep 25, 1972
Croatia, Feb 25, 1993
Romania, Dec 15, 1972
Cyprus, Dec 21, 1961
Russian Federation, Jun 16, 1992
Czech Republic, Jan 1, 1993
Rwanda, Sep 30, 1963
Denmark, Mar 30, 1946
Samoa, Jun 28, 1974
Djibouti, Oct 1, 1980
San Marino, Sep 21, 2000
Dominica, Sep 29, 1980
Sao Tome and Principe, Sep 30, 1977
Dominican Republic, Sep 18, 1961
Saudi Arabia, Aug 26, 1957
Ecuador, Dec 28, 1945
Senegal, Aug 31, 1962
Egypt, Arab Republic of, Dec 27, 1945 Serbia, Feb 25, 1993
El Salvador, Mar 14, 1946
Seychelles, Sep 29, 1980
Equatorial Guinea, Jul 1, 1970
Sierra Leone, Sep 10, 1962
Eritrea, Jul 6, 1994
Singapore, Aug 3, 1966
Estonia, Jun 23, 1992
Slovak Republic, Jan 1, 1993
Ethiopia, Dec 27, 1945
Slovenia, Feb 25, 1993
Fiji, May 28, 1971
Solomon Islands, Sep 22, 1978
Finland, Jan 14, 1948
Somalia, Aug 31, 1962
France, Dec 27, 1945
South Africa, Dec 27, 1945
Gabon, Sep 10, 1963
South Sudan, Apr 18, 2012
Gambia, The, Oct 18, 1967
Spain, Sep 15, 1958
Georgia, Aug 7, 1992
Sri Lanka, Aug 29, 1950
Germany, Aug 14, 1952
St. Kitts and Nevis, Aug 15, 1984
Ghana, Sep 20, 1957
St. Lucia, Jun 27, 1980
Greece, Dec 27, 1945
St. Vincent and the Grenadines, Aug 31,
Grenada, Aug 27, 1975
1982
Guatemala, Dec 28, 1945
Sudan, Sep 5, 1957
Guinea, Sep 28, 1963
Suriname, Jun 27, 1978
Guinea-Bissau, Mar 24, 1977
Swaziland, Sep 22, 1969
Guyana, Sep 26, 1966
Sweden, Aug 31, 1951
Haiti, Sep 8, 1953
Switzerland, May 29, 1992
Honduras, Dec 27, 1945
Syrian Arab Republic, Apr 10, 1947
Hungary, Jul 7, 1982
Tajikistan, Jun 4, 1993
Iceland, Dec 27, 1945
Tanzania, Sep 10, 1962

Thailand, May 3, 1949

India, Dec 27, 1945
Timor-Leste, Jul 23, 2002
Indonesia, Apr 13, 1967
Togo, Aug 1, 1962
Iran, Islamic Republic of, Dec 29, 1945 Tonga, Sep 13, 1985
Iraq, Dec 27, 1945
Trinidad and Tobago, Sep 16, 1963
Ireland, Aug 8, 1957
Tunisia, Apr 14, 1958
Israel, Jul 12, 1954
Turkey, Mar 11, 1947
Italy, Mar 27, 1947
Turkmenistan, Sep 22, 1992
Jamaica, Feb 21, 1963
Tuvalu, Jun 24, 2010
Japan, Aug 13, 1952
Uganda, Sep 27, 1963
Jordan, Aug 29, 1952
Ukraine, Sep 3, 1992
Kazakhstan, Jul 23, 1992
United Arab Emirates, Sep 22, 1972
Kenya, Feb 3, 1964
United Kingdom, Dec 27, 1945
Kiribati, Sep 29, 1986
United States, Dec 27, 1945
Korea, Republic of, Aug 26, 1955
Uruguay, Mar 11, 1946
Kosovo, Jun 29, 2009
Uzbekistan, Sep 21, 1992
Kuwait, Sep 13, 1962
Vanuatu, Sep 28, 1981
Kyrgyz Republic, Sep 18, 1992
Venezuela, Republican Bolivarian de, Dec
Lao People's Democratic Republic, Jul 30, 1946
5, 1961
Vietnam, Sep 21, 1956
Latvia, Aug 11, 1992
Yemen, Republic of, Oct 3, 1969
Lebanon, Apr 14, 1947
Zambia, Sep 23, 1965
Lesotho, Jul 25, 1968
Zimbabwe, Sep 29, 1980

Objectives of World Bank;

The World Bank was established to promote long-term foreign investment loans on
reasonable terms. The, purposes of the Bank, as set forth in the 'Articles of
Agreement are as follows:
(i) To assist in the reconstruction and development of territories of members by
facilitating the investment of capital for productive purpose including;
(a) The restoration of economies destroyed or disrupted by war;
(b) The reconversion of productive facilities to peaceful needs; and
(c) The encouragement of the development of productive facilities and resources in
fewer developing countries;
(ii) To promote private investment by means of guarantee or participation in loans
and other investments made by private investors.
(iii) When private capital is not available on reasonable terms, to supplement
private investment by providing on suitable conditions finance for productive
purpose out of its own capital funds raised by it and its other resources.
(iv) To promote the long-range balanced growth of international trade and the
maintenance of equilibrium in balances of payments by encouraging international
investment for the development of the productive resources of members, thereby
assisting in raising productivity, the standard of living, and conditions of labor in
their territories.

(v) To arrange the loans made or guaranteed by it in relation to international loans

through other channels so that the more useful and urgent projects, large and small
alike, will be dealt with first.

ISO;
ISO (International Organization for Standardization) is the worlds largest
developer of voluntary International Standards. International Standards give state
of the art specifications for products, services and good practice, helping to make
industry more efficient and effective. Developed through global consensus, they
help to break down barriers to international trade.

The ISO history;

ISO (International Organization for Standardization) is the worlds largest
developer of voluntary International Standards. We were founded in 1947, and
since then have published more than 19 500 International Standards covering
almost all aspects of technology and business. Today we have members from 164
countries and about 150 people work full time for our Central Secretariat in
Geneva, Switzerland.
In London, in 1946, 65 delegates from 25 countries meet to discuss the future of
International Standardization. In 1947, ISO officially comes into existence with 67
technical committees (groups of experts focusing on a specific subject)

ISO Today;
At the start of 2012, ISO has 163 members and has a total of over
19 000 standards. Today, ISO International Standards cover
almost all aspects of technology and business.

Industry-wide standardization is a condition existing within a particular industrial

sector when the large majority of products or services conform to the same
standards. It results from consensus agreements reached between all economic
players in that

Objectives or Activities of ISO;

Industrial sector - suppliers, users, and often governments. They agree on
specifications and criteria to be applied consistently in the choice and classification
of materials, the manufacture of products, and the provision of services. The aim is
to facilitate trade, exchange and technology transfer through:
Enhanced product quality and reliability at a reasonable price.
Improved health, safety and environmental protection, and reduction of
waste.
Greater compatibility and interoperability of goods and services,
Simplification for improved usability.
Reduction in the number of models, and thus reduction in costs.
Increased distribution efficiency, and ease of maintenance.

INVOLVEMENT WITH BANLADESH:

The Bangladesh Standards and Testing Institution (BSTI) were established by the
Government through an Ordinance passed in July 1985. BSTI is headed by a
Director General (Additional Secretary to the Government).

The primary activities of the Bangladesh Standards and Testing Institution (BSTI)
are: standardization of services and products (S); introduction of the international
unit system of weights and measures and promotion of metrology services (M);
promotion of quality assurance activities; rendering testing facilities for services
and products; preparation, promotion and adoption of national standards. The
Institution is also empowered with some regulatory measures in these fields. The
Institutional budget is fully supported by its own income, i.e. It is functioning as a
self-financing organization.

World Trade Organization (WTO):

The WTO is a place where the member governments go, to try to sort out the trade
problems they face with each other. The WTO was born out of negotiations, and
everything the WTO does is the result of negotiations. The bulk of the WTOs
current work comes from the 198694 negotiations called the Uruguay Round and
earlier negotiations under the General Agreement on Tariffs and Trade (GATT).
The WTO began life on 1 January 1995, but its trading system is half a century
older. Since 1948, the General Agreement on Tariffs and Trade (GATT) had
provided the rules for the system.
Location:
It is situated in Geneva, Switzerland. It consists of 153 member countries. The
WTO is currently the host to new negotiations, under the Doha Development
Agenda launched in 2001.
Organization:
The WTO is run by its member governments. All major decisions are made by the
membership as a whole, either by ministers (who meet at least once every two
years) or by their ambassadors or delegates (who meet regularly in Geneva).

Decisions are normally taken by consensus. In this respect, the WTO is different
from the other international organizations such as the World Bank and International
Monetary Fund. In the WTO, power is not delegated to a board of directors or the
organizations head.
So, the WTO belongs to its members. The countries make their decisions through
various councils and committees, whose membership consists of all WTO
members. Topmost is the ministerial conference which has to meet at least once
every two years.
Day-to-day work in between the ministerial conferences is handled by three
bodies:
The General Council
The Dispute Settlement Body
The Trade Policy Review Body
All three are in fact the same the Agreement Establishing the WTO states they
are all the General Council, although they meet under different terms of reference.
Again, all three consist of all WTO members. They report to the Ministerial
Conference.
Three more councils, each handling a different broad area of trade, report to the
General Council:
The Council for Trade in Goods (Goods Council)
The Council for Trade in Services (Services Council)
The Council for Trade-Related Aspects of Intellectual Property Rights
(TRIPS Council)
Each of the higher level councils has subsidiary bodies. The Goods Council has 11
committees dealing with specific subjects (such as agriculture, market access,
subsidies, anti-dumping measures and so on).
Purposes:
It deals with the rules of trade between nations at a global or near-global level. Its
an organization for liberalizing trade. Its a forum for governments to negotiate

trade agreements. Its a place for them to settle trade disputes. It operates a system
of trade rules.
Functions:
The following are the main functions of WTO:

Administering WTO trade agreements

Forum for trade negotiations
Handling trade disputes
Monitoring national trade policies
Technical assistance and training for developing countries
Cooperation with other international organizations

Role of WTO in the economic development of Bangladesh:

WTO works for administering trade agreements for its member countries as well as
for the developing countries. It ensures duty free and quota free market for
developing countries and Bangladesh is one of the most beneficiaries of that. In
fact Bangladesh receives the biggest benefit among the developing countries. The
multilateral trading systems, GATT and WTO, have attained significant successes,
which give overwhelming confidence to the countries promoting the ideals of free
market and free trade. According to them, free trade can generate enormous
economic growth and productivity. WTO has facilitated to talk about US duty-free
access and free movement of natural persons to facilitate human resource exports
to developed countries. Besides Bangladesh got the co-operation assurance from
one of its neighboring countries, India in the WTO Geneva summit which
increased the countrys opportunity to get co-operation from other developed
countries. In the Geneva summit WTO also focused on the issue of increased
capacity building in LDCs along with greater market access. At present,
Bangladesh has a duty free access in the US market for 97% of its products which

is again the result of WTO negotiations. Bangladesh is now enjoying a lot of

facilities because of WTO. WTO has in fact developed itself as a developingfriendly organization. In the recent years WTO has taken some package and
formula which can benefit Bangladesh to a large extent.
The three donor agencies mentioned above are all equally important for the
economic development of Bangladesh. WB gives financial aid and takes different
projects for the economic development of the country. IMF gives financial aid and
at the same time helps to take different policies which helps the economic growth
of the country. Finally, WTO helps to ensure duty free access to the world market
which is the most necessary thing for the economic development. If Bangladesh
can utilize these opportunities given by these donor agencies Bangladesh will be
able to make its economy a developed one in near future. All Bangladesh should do
is to make arrangements ready to ensure the proper use of the financial aids,
suggestions and projects. Then it will be possible to achieve economic
development in real scene. In fine, we can say that, these three agencies have great
significance in the economic development of Bangladesh.

The International Labor Organization (ILO);

The International Labor Organization is the UN specialized agency which seeks

the promotion of social justice and internationally recognized human and labor
rights.
The ILO formulates international labor standards in the form of Conventions and
Recommendations setting minimum standards of basic labor rights: freedom of
association, the right to organize, collective bargaining, abolition of forced labor,
equality of opportunity and treatment, and other standards regulating conditions
across the entire spectrum of work related issues. It promotes the development of
independent employers' and workers' organizations and provides training and
advisory services to those organizations. Within the UN system, the ILO has a
unique tripartite structure with workers and employers participating as equal
partners with governments in the work of its governing organs.

The history of ILO;

The ILO was created in 1919, as part of the Treaty of Versailles that ended World
War I, to reflect the belief that universal and lasting peace can be accomplished
only if it is based on social justice.
The Constitution was drafted between January and April, 1919, by the Labor
Commission set up by the Peace Conference, which first met in Paris and then in
Versailles. The Commission, chaired by Samuel Gompers, head of the American
Federation of Labor (AFL) in the United States, was composed of representatives
from nine countries: Belgium, Cuba, Czechoslovakia, France, Italy, Japan, Poland,
the United Kingdom and the United States. It resulted in a tripartite organization,
the only one of its kind bringing together representatives of governments,
employers and workers in its executive bodies.
The Constitution contained ideas tested within the International Association for
Labor Legislation, founded in Basel in 1901. Advocacy for an international
organization dealing with labor issues began in the nineteenth century, led by two
industrialists, Robert Owen (1771-1853) of Wales and Daniel Ligand (1783-1859)
of France.
The driving forces for ILO's creation arose from security, humanitarian, political
and economic considerations. Summarizing them, the ILO Constitution's Preamble
says the High Contracting Parties were 'moved by sentiments of justice and
humanity as well as by the desire to secure the permanent peace of the world.

Activities of ILO;

 vocational training and vocational rehabilitation.

Employment policy.
Labor administration.
Labor law and industrial relations.
working conditions.
Management development.
Cooperatives.
Social security.
Labor statistics and occupational safety and health.

The International Monetary Fund (IMF);

The International Monetary Fund (IMF) is an international organization that was
initiated in 1944 at the Bretton and formally created in 1945 by 29 member
countries. The IMF's stated goal was to assist in the reconstruction of the
world's international payment system postWorld War II. Countries contribute
money to a pool through a quota system from which countries with payment
imbalances can borrow funds temporarily. Through this activity and others such as
surveillance of its members' economies and the demand for self-correcting policies,
the IMF works to improve the economies of its member countries.

History and Background;

The International Monetary Fund was originally laid out as a part of the Bretton
Woods system exchange agreement in 1944. During the earlier Great Depression,

countries sharply raised barriers to foreign trade in an attempt to improve their

failing economies. This led to the devaluation of national currencies and a decline
in world trade.
This breakdown in international monetary co-operation created a need for
oversight. The representatives of 45 governments met at the Bretton Woods
Conference in the Mount Washington Hotel in the area of Bretton Woods, New
Hampshire in the United States, to discuss framework for post-World War
II international economic co-operation. The participating countries were concerned
with the rebuilding of Europe and the global economic system after the war.
There were two views on the role the IMF should assume as a global economic
institution. British economist John Maynard Keynes imagined that the IMF would
be a cooperative fund upon which member states could draw to maintain economic
activity and employment through periodic crises. This view suggested an IMF that
helped governments and to act as the US government had during the New Deal in
response to World War II. American delegate Harry Dexter White foresaw an IMF
that functioned more like a bank, making sure that borrowing states could repay
their debts on time. Most of White's plan was incorporated into the final acts
adopted at Bretton Woods.
The International Monetary Fund formally came into existence on 27 December
1945, when the first 29 countries ratified its Articles of Agreement. By the end of
1946 the Fund had grown to 39 members. On 1 March 1947, the IMF began its
financial operations,[28] and on 8 May France became the first country to borrow
from it.
The IMF was one of the key organizations of the international economic system;
its design allowed the system to balance the rebuilding of international capitalism
with the maximization of national economic sovereignty and human welfare, also
known as embedded liberalism. The IMF's influence in the global economy

steadily increased as it accumulated more members. The increase reflected in

particular the attainment of political independence by many African countries and
more recently the 1991 dissolution of the Soviet Union because most countries in
the Soviet sphere of influence did not join the IMF.
The Bretton Woods system prevailed until 1971, when the US government
suspended the convertibility of the US$ (and dollar reserves held by other
governments) into gold. This is known as the Nixon. As of January 2012, the
largest borrowers from the fund in order are Greece, Portugal,
Ireland, Romania and Ukraine.

Member Countries;

The 188 members of the IMF include 187 members of the UN and the Republic of
Kosovo. All members of the IMF are also International (IBRD) members and vice
versa.
Former members are Cuba (which left in 1964)[and the Republic of China, which
was ejected from the UN in 1980 after losing the support of then US President
Jimmy Carter and was replaced by China. However, "Taiwan Province of China" is
still listed in the official IMF indices.

Apart from Cuba, the other UN states that do not belong to the IMF
are Andorra, Liechtenstein, Monaco, Nauru and North Korea.
The former Czechoslovakia was expelled in 1954 for "failing to provide required
data" and was readmitted in 1990, after the Velvet Revolution. Poland withdrew in
1950allegedly pressured by the Soviet Unionbut returned in 1986.

The objectives of the international monetary funds are;

1.
2.
3.
4.
5.
6.

The main objective of the fund is to promote monetary cooperation among

the different countries of the world.
The funds aim at providing and establishing multilateral payments and trade
system in place of bilateral agreements.
It will try to remove all restrictions and controls on foreign exchange
imposed by the It will.
It will lend or sell to its member - countries currencies of other countries.
This facilitates foreign exchange transactions among the members.
The fund aims at providing short - term monetary help to member countries
during emergency.
The fund is also to provide monetary help to member country in order to
shorten the duration and lessen the degree of disequilibrium in their
international balance of payment.

7.

Another objective of the fund is to help the member countries invest their
long - term funds in profitable activities.
8. The fund is also to facilitate the expansion and balanced growth of
international trade and to contribute thereby to promotion and maintenance of
high levels of employment and real income of member countries.

IEC;
IEC 61850 is a standard for the design of electrical substation automation. IEC
61850 is a part of the International Electro technical Commission's (IEC) Technical
Committee 57 (TC57)[1] reference architecture for electric power systems. The
abstract data models defined in IEC 61850 can be mapped to a number of
protocols. Current mappings in the standard are to MMS (Manufacturing Message
Specification), GOOSE, SMV (Sampled Measured Values),[clarification needed] and soon
to Web Services. These protocols can run over TCP/IP networks or
substation LANs using high speed switched Ethernet to obtain the necessary
response times below four milliseconds for protective relaying.

IEC History;

The IEC came into being on 26-27 June 1906 in London, UK, and ever since has
been giving the very best global standards to the world's electro technical
industries. The IEC thanks industry, government, academia, end-users, and
everyone else who has been involved from around the world for more than a
century of commitment and partnership.
IEC OBJECTIVES;
1) To promote individual services and all other interventions of the project by
creating demand and acceptance among target groups
2) To bring about desirable behavioral changes in the household maternal, child
care and feeding practices
3) To mobilize community participation and support for project activities
4) To empower the communities to plan and implement sustainable interventions to
reduce malnutrition among adolescent girls, women and children and improve
health and nutrition status of the community.

IEC member countries ;

Europe: Austria, Belarus, Belgium, Bulgaria, Croatia, Czech Republic, Denmark,
Finland, France, Germany, Greece, Hungary, Ireland, Italy, Luxembourg, the
Netherlands, Norway, Poland, Portugal, Romania, Russia, Slovakia, Slovenia,
Spain, Sweden, Switzerland, Ukraine, United Kingdom, Yugoslavia
Asia: China, India, Indonesia, Iran, Israel, Japan, Korea, Malaysia, Pakistan,
Philippines, Saudi Arabia, Singapore, Thailand, Turkey
Americas: Argentina, Canada, Mexico, the United States, Brazil (2000/12/1 rejoin).

Africa: Egypt, South Africa

Australia: Australia, New Zealand
A total of nine informal members (five in Europe, the Americas 1, 3 in Africa):
Europe: Bosnia and Herzegovina, Estonia, Iceland, Latvia, Lithuania
Americas: Colombia
Africa: Cyprus, Malta, Tunisia
Members belonging to four (Americas 3, Africa 1)
Americas: Costa Rica (February 2000), Cuba (January 1998), Uruguay (September
1996)
Africa: Eritrea province

The International Development Association (IDA);

The International Development Association (IDA) is the part of the World Bank
that helps the worlds poorest countries. Established in 1960, IDA aims to reduce
poverty by providing loans (called credits) and grants for programs that boost
economic growth, reduce inequalities, and improve peoples living conditions.
IDA complements the World Banks original lending armthe International Bank
for Reconstruction and Development (IBRD). IBRD was established to function as
a self-sustaining business and provides loans and advice to middle-income and
credit-worthy poor countries. IBRD and IDA share the same staff and headquarters
and evaluate projects with the same rigorous standards.

IDA History;

The International Bank for Reconstruction and Development (IBRD), better known
as the World Bank, was established in 1944 to help Europe recover from the
devastation of World War II. The success of that enterprise led the Bank, within a
few years, to turn its attention to the developing countries. By the 1950s, it became
clear that the poorest developing countries needed softer terms than those that
could be offered by the Bank, so they could afford to borrow the capital they
needed to grow.
In the early 1950s, reports from the United Nations and the U.S. government
supported the establishment of a program to lend to poor countries on concessional
terms with the backing of multilateral donors. After initial deliberations, the idea to
create the International Development Association (IDA), an agency to provide
soft-loans to developing countries, was floated within the Bank under the
stewardship of President Eugene Black.

Member Countries;
IDA is one of the largest sources of assistance for the worlds 82 poorest countries,
40 of which are in Africa. It is the single largest source of donor funds for basic
social services in these countries. IDA-financed operations deliver positive change
for 2.5 billion people, the majority of whom survive on less than $2 a day.
IDA lends money on concessional terms. This means that IDA charges little or no
interest and repayments are stretched over 25 to 40 years, including a 5- to 10-year
grace period. IDA also provides grants to countries at risk of debt distress.

The main objectives of the IDA are as follows:

(i) To provide development finance to the less developed countries on easy and
flexible terms.
(ii) To promote economic development, increase productivity, and thus, raise the
standard of living in the less developed countries.
(iii) To supplement the objectives and activities of the World Bank.

Financing Policy;
The IDA loans are different from the convention loans. The following are the
distinctive features of the financing policy of the IDA:
(i) The IDA grants loans for projects whether they are directly productive or not.
(ii) The IDA loans are interest free; only a nominal annual rate of 3.4% on the
amounts withdrawn and outstanding is charged to meet the administrative
expenses.
(iii) The IDA loans are for long periods, i.e., for 50 years.
(iv) There is a 10 years of grace and no amount is repayable during this period of
grace.

Bangladesh Projects & Programs;

The International Development Association (IDA) has supported Bangladesh since
1972, just after the countrys independence. Since then, IDA has provided more
than $15 billion in support for policy reforms and projects, accounting for more
than one-quarter of all foreign aid to Bangladesh. Key elements of that support
have been the Banks long-term commitment to health and education, its support
for rural infrastructure, and its engagement in policy dialogues that have created
conditions for broad-based economic growth.

Conclusion:
All of subject equally important for the economic development of Bangladesh. WB
gives financial aid and takes different projects for the economic development of the
country. IMF gives financial aid and at the same time helps to take different
policies which helps the economic growth of the country. Finally, WTO helps to
ensure duty free access to the world market which is the most necessary thing for
the economic development. If Bangladesh can utilize these opportunities given by
these donor agencies Bangladesh will be able to make its economy a developed
one in near future. All Bangladesh should do is to make arrangements ready to
ensure the proper use of the financial aids, suggestions and projects. Then it will be

possible to achieve economic development in real scene. In fine, we can say that,
these three agencies have great significance in the economic development of
Bangladesh.

REFERENCES;
www.worldbank.org
www.globalexchange.org
www.highbeam.com
www.wikipedia.org
www.economywatch.org