CLASS 12TH CH-4 United Nations and its Organizations NOTES

U.N. and its Organization:

The olive branch is a symbol of peace, while the world map represents the organization in its quest to attain world peace.

United Nations Significant Agencies

1.World Bank

• Created in 1944

• Works for you human development, agriculture and rural development, environmental protection , infrastructure and governance and provides loans and grants to developing countries.

• Its headquarters is in Washington DC, USA.

• It is criticised for setting the economic agenda of poorer Nations , attaching stringent conditions to its loans and forcing free market reforms.

2. International Monetary fund (IMF)

• At the international level, overseas financial institutions and regulations.

• It consists of 189 members , out of them , G-8 members enjoy more powers , i.e. , the US , Japan, Germany , France , the UK , Italy , Canada and Russia except china and Saudi Arabia.

• The US alone enjoys 16.75% voting rights.

3. World Trade organization (WTO)