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In the last decade, the World Bank has catapulted from relative obscurity in its work to alleviate global poverty to centrality in the latest controversies over development, economic interdependence, and the global economy. Since its inception at the Bretton Woods Conference in 1944, the Bank has attempted to assist poor countries in developing the infrastructure they need to prosper in the world economy. The Bank’s original mission was based on pure economic and macroeconomic reform. Through its experience in implementing this mission, however, the Bank has learned more about the nature of development and the many and various inputs necessary to achieve it. As a result, the Bank’s mission has broadened significantly. “There is probably nothing in this world more political than money.” After the Cold War was won by the proponents of free trade principles, the political spotlight fell upon the World Bank as the premier multilateral institution devoted to international aid. As understanding about the nature of development grew, developed countries and NGOs increased pressure on the Bank to expand its mission to include not only macroeconomic reform, but also reform in other social and political arenas such as human rights, protection of the environment and cultural heritage, and establishment of legal institutions. At the same time, the Bank’s own difficult experience further motivated it to expand its mission to accommodate these new areas of development assistance. Greater pressure from developed countries such as the United States and the swift expansion of the World Bank’s mission have made the Bank’s policies a focal point for criticism and discussion about the direction of international aid

From Reluctant Champion to Development Ringmaster: Managing the Expanding Mission of the World Bank