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Diamer-Bhasha Dam

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The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purposes of economic development . The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA), two of five international organizations owned by the World Bank Group . It was established along with the International Monetary Fund at the 1944 Bretton Woods Conference . After a slow start, its first loan was to France in 1947. In its early years, it primarily focused on rebuilding Europe. Over time, it focused on providing loans to developing world countries. In the 1970s, the World Bank re-conceptualized its mission of facilitating development as being oriented around poverty reduction . For the last 30 years, it has included NGOs and environmental groups in its loan portfolio. Its loan strategy is influenced by environmental and social safeguards.

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72-594: Diamer-Bhasha Dam is a concreted-filled gravity dam , in the preliminary stages of construction, on the River Indus between Kohistan district in Khyber Pakhtunkhwa and Diamer district in Gilgit Baltistan , Pakistan administered Kashmir. Its foundation stone was laid by the then Prime Minister of Pakistan in 1998. The dam site is situated near a place called "Bhasha", hence the name which

144-545: A Country Assistance Strategy is produced in cooperation with the local government and any interested stakeholders and may rely on analytical work performed by the bank or other parties. The World Bank's negative pledge clause prohibits its debtor countries from using public assets to repay other creditors before they repay the World Bank. The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries . It

216-958: A Rs.442 billion contract with a joint venture of China Power and Frontier Works Organisation (FWO) for the construction of the dam. The project is located on Indus River, about 315 km upstream of Tarbela Dam, 165 km downstream of the Northern Area capital Gilgit and 40 km downstream of Chilas. The main purpose of the dam is water storage, irrigation and generation of electricity. This dam could not commence as 1/5 land still to be acquired for reaching total required of 37,500 acres (152 km). Environmental Impact : Resettlement : The dam will submerge heritage including rock carvings/ petroglyphs dating as far back as 6th millennium BC . Locals say that these are not only of great historical significance for Buddhists but also for promoting tourism and need to relocate to safe side. The Diamer Bhasha Dam has been mired in controversy due to

288-640: A balanced budget and give priority of debt repayment to the World Bank over other governments. World Bank staff closely monitored the use of the funds to ensure that the French government met the conditions. In addition, before the loan was approved, the United States Department of State told the French government that its members associated with the Communist Party would first have to be removed. The French government complied and removed

360-499: A large part of the land in one section of a river, allowing water to fill the space and be stored. Once the land has been cut away, the soil has to be tested to make sure it can support the weight of the dam and the water. It is important to make sure the soil will not erode over time, which would allow the water to cut a way around or under the dam. Sometimes the soil is sufficient to achieve these goals; however, other times it requires conditioning by adding support rocks which will bolster

432-575: A range of areas from building schools to fighting disease, providing water and electricity, and environmental protection , and as such, they are linked to most of the Sustainable Development Goals . The World Bank has been criticized as promoting inflation and harming economic development . There has also been criticism of the bank's governance and response to the COVID-19 pandemic . The current president (starting in 2023)

504-621: A result, reducing inequality, in this definition, had become an integral part of the World Bank’s objectives and effectively “broadened its mandate”. The World Bank has been criticized for not embracing the reduction of inequality (be it economic inequality within a country, or international inequality between countries) as a goal. Instead, the bank has taken an instrumental approach to the issue, in which inequality policies were seen as useful as long as they contributed to reducing (extreme) poverty or promoting average economic growth. As part of

576-512: A slow start for two reasons: it was underfunded, and there were leadership struggles between the US executive director and the president of the organization. When the Marshall Plan went into effect in 1947, many European countries began receiving aid from other sources. Faced with this competition, the World Bank shifted its focus to non-European allies. Until 1968, its loans were earmarked for

648-616: Is Ajay Banga who is known to support climate action , unlike his predecessor David Malpass . The World Bank was created at the 1944 Bretton Woods Conference , along with the International Monetary Fund (IMF). The president of the World Bank is traditionally an American . The World Bank and the IMF are both based in Washington, D.C., and work closely with each other. Although many countries were represented at

720-480: Is 40 km downstream of Chilas town and 315 km from Tarbela Dam . The eight million acre feet (MAF) reservoir with 272-metre height will be the tallest roller compact concrete (RCC) dam in the world. Upon completion, Diamer-Bhasha dam would (i) produce 4800 megawatts of electricity through hydro-power generation; (ii) store an extra 10.5 cubic kilometres (8,500,000 acre⋅ft) of water for Pakistan that would be used for irrigation and drinking; (iii) extend

792-651: Is based on economic size in addition to the International Development Association contributions. The following table shows the subscriptions of the top 20 member countries of the World Bank by voting power in the following World Bank institutions as of December 2014 or March 2015: the International Bank for Reconstruction and Development (IBRD), the International Finance Corporation (IFC),

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864-769: Is listed in the Registry of Research Data Repositories re3data.org. The World Bank also endorses the Principles for Digital Development . Together with the World Health Organization , the World Bank administers the International Health Partnership (IHP+). IHP+ is a group of partners committed to improving the health of citizens in developing countries. Partners work together to put international principles for aid effectiveness and development cooperation into practice in

936-466: Is primarily voluntary. Based on an agreement between the United Nations and the World Bank in 1981, Development Business became the official source for World Bank Procurement Notices, Contract Awards, and Project Approvals. In 1998, the agreement was renegotiated, and included in this agreement was a joint venture to create an online version of the publication. Today, Development Business

1008-669: Is the largest and best-known development bank in the world and an observer at the United Nations Development Group . The bank is headquartered in Washington, D.C. , in the United States . It provided around $ 98.83 billion in loans and assistance to "developing" and transition countries in the 2021 fiscal year. The bank's stated mission is to achieve the twin goals of ending extreme poverty and building shared prosperity. Total lending as of 2015 for

1080-489: Is the primary publication for all major multilateral development banks, U.N. agencies, and several national governments, many of which have made the publication of their tenders and contracts in Development Business a mandatory requirement. The World Bank collects and processes large amounts of data and generates them on the basis of economic models. These data and models have gradually been made available to

1152-426: The 2030 Agenda , Sustainable Development Goal 10 aims at reducing inequalities within countries and among countries. World Bank officials participated in the negotiations for SDG 10 in the years prior to 2015. They advocated for the adoption of the bank's own preferred benchmarks. This ensured that other organizations would evaluate their success based on the bank’s own definition of inequality. Some have argued that

1224-484: The Communist coalition government —the so-called tripartite . Within hours, the loan to France was approved. From 1974 to 1980, the bank concentrated on meeting the basic needs of people in the developing world . The size and number of loans to borrowers greatly increased, as loan targets expanded from infrastructure into social services and other sectors. These changes can be attributed to Robert McNamara , who

1296-730: The International Development Association (IDA), and the Multilateral Investment Guarantee Agency (MIGA). Member countries are allocated votes at the time of membership and subsequently for additional subscriptions to capital (one vote for each share of capital stock held by the member). The World Bank plays a significant role in global economic governance due to its broad mandate, its vast resource base, its frequent and regular interactions with governments as clients, and its myriad publications and databases. In 2020,

1368-521: The Supreme Court of Pakistan directed the government to begin construction on the dam, as well as the Mohmand Dam , to resolve a water shortage. Chief Justice Saqib Nisar of the court gave a donation of 1 million Pakistani rupees for the construction of the two dams. And set up a fund for the construction of the dam. On July 6, the government of Pakistan set up a fund for the construction of

1440-467: The health sector . IHP+ mobilizes national governments, development agencies, civil society, and others to support a single, country-led national health strategy in a well-coordinated way. In September 2020, during the COVID-19 pandemic , the World Bank announced a $ 12 billion plan to supply "low and middle income countries" with a vaccine once it was approved. In June 2022, the bank reported that $ 10.1 billion had been allocated to supply 78 countries with

1512-653: The role of humans in climate change ". In 2023, a new president was appointed: Ajay Banga . His term began on 2 June 2023. He was supported by the American president Joe Biden partly because he supports climate action . He is also expected to help low-income countries deal with debts. He is the first Indian American to lead the bank. The vice presidents of the bank are its principal managers, in charge of regions, sectors, networks and functions. There are two executive vice presidents, three senior vice presidents, and 24 vice presidents. The boards of directors consist of

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1584-478: The Bretton Woods Conference, the United States and United Kingdom were the most powerful in attendance and dominated the negotiations. The intention behind the founding of the World Bank was to provide temporary loans to low-income countries that could not obtain loans commercially. The bank may also make loans and demand policy reforms from recipients. In its early years, the bank made

1656-600: The Chairman of Water and Power Development Authority Syed Raghib Abbas Shah claimed that his department has received 17,000 acres of land at the cost of PKR 5.5 billion from Government of Gilgit-Baltistan and the Ismaili Community for the construction of the project. Former Prime Minister Nawaz Sharif on December 5, 2016, approved, in principle, the financing plan for the Diamer-Bhasha dam and ordered

1728-536: The Diamer Bhasha Dam. Fundraising through bank accounts and cellular companies was initiated for participation. On 9 September 2018- a Water and Power Development Authority official revealed that at least 12 billion dollars are required to build Diamer-Bhasha Dam. 5 billion dollars are required to build infrastructure while another 7 billion dollars are required for the power generation. On 1 November 2018- PM-CJP fund for Diamer-Bhasha and Mohmand Dams which

1800-480: The U.K. have the most voting power. The bank aims loans at developing countries to help reduce poverty. The bank is engaged in several global partnerships and initiatives, and takes a role in working toward addressing climate change . The World Bank hosts an Open Knowledge Repository for its publications. In 2020, the World Bank’s total commitments amounted to USD 77.1 billion, it had 12,300 full-time staff, and it operated in 145 countries. World Bank projects cover

1872-588: The United States (15.85%), Japan (6.84%), China (4.42%), Germany (4.00%), the United Kingdom (3.75%), France (3.75%), India (2.91%), Russia (2.77%), Saudi Arabia (2.77%) and Italy (2.64%). Under the changes, known as 'Voice Reform – Phase 2', countries other than China that saw significant gains included South Korea , Turkey, Mexico , Singapore, Greece , Czech Republic , Hungary , Brazil, India , and Spain. Most developed countries' voting power

1944-481: The World Bank Group president and 25 executive directors. The president is the presiding officer, and ordinarily has no vote except to break a tie. The executive directors as individuals cannot exercise any power or commit or represent the bank unless the boards specifically authorized them to do so. With the term beginning 1 November 2010, the number of executive directors increased by one, to 25. In 2020,

2016-775: The World Bank and the Aga Khan Development Network to finance the Diamer-Bhasha Project without the requirement of NOC from India . He also said that the Asian Development Bank , Aga Khan Rural Support Programme and Aga Khan Foundation had agreed to become lead finance manager for the project. On 27 August 2013- Pakistan's Finance Minister, Ishaq Dar said that work would start on both Dasu and Diamer-Bhasha Dams simultaneously. He also said that Diamer-Bhasha project would take 10–12 years to complete. On 7 November 2013-

2088-469: The World Bank had 12,300 full-time staff, and it operated in 145 countries. Some notable politicians who worked for the World Bank include: The International Bank for Reconstruction and Development (IBRD) has 189 member countries, while the International Development Association (IDA) has 174. Each member state of IBRD should also be a member of the International Monetary Fund (IMF) and only members of IBRD are allowed to join other institutions within

2160-457: The World Bank reduced the transformative potential of SDG 10 during the agenda-setting stage. The bank has stated its ambition to help catalyze the SDGs through “thought leadership, global convening, and country-level uptake”. In general, the World Bank strategically uses the power of the Sustainable Development Goals (SDGs) in its favor to reinforce its own policies or interests while minimizing

2232-703: The World Bank's 2012 annual meeting in Tokyo, a review of these safeguards was initiated, which was welcomed by several civil society organisations. As a result, the World Bank developed a new Environmental and Social Framework, which has been in implementation since 1 October 2018. The World Bank or the World Bank Group is also a sitting observer in the United Nations Sustainable Development Group . Beginning in 1989, in response to harsh criticism from many groups,

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2304-404: The World Bank’s total commitments amounted to USD 77.1 billion and it operated in 145 countries. World Bank projects cover a range of areas from building schools to fighting disease, providing water and electricity, and environmental protection , and as such, they are linked to most of the Sustainable Development Goals . As a guideline to the World Bank's operations in any particular country,

2376-479: The acquisition of agriculture-barren land, tree and nurseries and Rs 1.638 billion to be utilized for properties and infrastructure, Rs 8.8 billion for establishment of nine model villages, Rs 62,119 million for pay and allowances for administrative arrangements, and Rs 17.7 million for contingent administrative expenses. The project also includes an escalation cost of Rs 2.234 billion at the rate of 6 per cent per year for five years and interest of Rs 4.309 billion during

2448-537: The bank (such as IDA). The five United Nations member states that are not members of the World Bank are Andorra, Cuba, Liechtenstein, Monaco, and North Korea. Kosovo is not a member of the UN, but is a member of the IMF and the World Bank Group, including the IBRD and IDA. In 2010, voting powers at the World Bank were revised to increase the voice of developing countries, notably China. The countries with most voting power are now

2520-578: 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. 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",

2592-563: 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. For the poorest developing countries in the world, the bank's assistance plans are based on poverty reduction strategies ; by combining an analysis of local groups with an analysis of

2664-449: The bank's Chief Economist, Hollis B. Chenery , with Anne Krueger was an example of this new focus. Krueger was known for her criticism of development funding and for describing developing countries' governments as " rent-seeking states". During the 1980s, the bank emphasized lending to service debt of developing countries, and structural adjustment policies designed to streamline the economies of developing nations. UNICEF reported in

2736-410: The bank. Traditionally, based on a tacit understanding between the United States and Europe, the president of the World Bank has been selected from candidates nominated by the United States, the largest shareholder in the bank. This is significant because the World Bank tends to lend more readily to countries that are friendly with the United States, not because of direct U.S. influence but because of

2808-514: The biggest danger to gravity dams and that is why, every year and after every major earthquake, they must be tested for cracks, durability, and strength. Although gravity dams are expected to last anywhere from 50–150 years, they need to be maintained and regularly replaced. World Bank As of 2022 , the World Bank is run by a president and 25 executive directors, as well as 29 various vice presidents. IBRD and IDA have 189 and 174 member countries, respectively. The U.S., Japan, China, Germany and

2880-460: The bond received an emphatic response from investors as it was oversubscribed with 4 times greater number of investors willing to invest than required, raising $ 500 million of capital for this project. In January 2006, the Government of Pakistan under President Pervez Musharraf announced the decision to construct 5 multi-purpose storage dams in the country during next 10–12 years. According to

2952-400: The chance of being itself reshaped or transformed by these goals. Scholars found that the World Bank used the growing momentum of the (SDGs) to further its strategic objectives without being influenced by the SDGs in turn. Also, the bank engaged with the SDGs selectively; efforts to integrate the goals into organizational practices remained limited; and their inclusion in country-level processes

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3024-437: The construction of infrastructure works, such as seaports, highway systems, and power plants, that would generate enough income to enable a borrower country to repay the loan. In 1960, the International Development Association was formed (as opposed to a UN fund named SUNFED), providing soft loans to developing countries . Before 1974, the reconstruction and development loans the World Bank made were relatively small. Its staff

3096-442: The cost of the Diamer-Bhasha dam was estimated at $ 12.6 billion. and it will have a storage capacity of 10 cubic kilometres (8,100,000 acre⋅ft). However, it will have a power generation capacity of 4500 megawatts. An amount of Rs 27, billion is required for the acquisition of land and resettlement of the people to be affected in the wake of the construction of the dam. Under the proposed project, Rs 10.76 billion will be spent for

3168-574: The country's financial and economic situation the World Bank develops a plan pertaining to the country in question. The government then identifies the country's priorities and targets for the reduction of poverty, and the World Bank instigates its aid efforts correspondingly. Forty-five countries pledged US$ 25.1 billion in "aid for the world's poorest countries", aid that goes to the World Bank International Development Association (IDA), which distributes

3240-630: The dam fund launched by former Chief Justice of Pakistan (CJP) Saqib Nisar in July 2018. The fund, which was later joined by the then Prime Minister Imran Khan , was intended to collect donations for the construction of the Diamer Bhasha and Mohmand dams . However, the Public Accounts Committee (PAC) of Parliament summoned Nisar to provide explanations regarding the fund, which had received Rs 10 billion till March 2019. What

3312-463: The dam is stable and independent of any other dam section. Gravity dams generally require stiff rock foundations of high bearing strength (slightly weathered to fresh), although in rare cases, they have been built on soil. Stability of the dam primarily arises from the range of normal force angles viably generated by the foundation. Also, the stiff nature of a gravity dam structure endures differential foundation settlement poorly, as it can crack

3384-401: The dam structure. The main advantage to gravity dams over embankments is the scour -resistance of concrete, which protects against damage from minor over-topping flows. Unexpected large over-topping flows are still a problem, as they can scour dam foundations. A disadvantage of gravity dams is that their large concrete structures are susceptible to destabilising uplift pressures relative to

3456-406: The employees of the World Bank. In 2012, for the first time, two non-US citizens were nominated. The nominee is subject to confirmation by the board of executive directors to serve a five-year, renewable term. While most World Bank presidents have had banking experience, some have not. On 23 March 2012, U.S. president Barack Obama announced that the United States would nominate Jim Yong Kim as

3528-496: The hilly terrain. No canals can be taken out from any dam on the Indus except from Kalabagh Dam ." It is planned to have a height of 272 meters spillway with fourteen gates each 11.5 m × 16.24 m. The gross capacity of the reservoir will be 10 cubic kilometres (8,100,000 acre⋅ft), with a live storage of 7.9 cubic kilometres (6,400,000 acre⋅ft). Two underground powerhouses are being proposed, one on each side of

3600-515: The implementation at the rate of 9 per cent. Detailed drawings of the dam were completed by March 2008. As of August 2012, the project faced several setbacks due to major sponsors backing out from financing the project, as World Bank and Asian Development Bank both refused to finance the project as according to them its location is in disputed territory and asked Pakistan to get a NOC from neighboring India . On 20 August 2013- Finance Minister of Pakistan , Ishaq Dar claimed to have convinced

3672-730: The last 10 years through Development Policy Financing was approximately $ 117 billion. Its five organizations are: The first two are sometimes collectively referred to as the World Bank. To ensure that World Bank-financed operations do not compromise these goals but instead add to their realisation, the following environmental, social, and legal safeguards were defined: Environmental Assessment, Indigenous Peoples, Involuntary Resettlement, Physical Cultural Resources, Forests, Natural Habitats, Pest Management, Safety of Dams, Projects in Disputed Areas, Projects on International Waterways, and Performance Standards for Private Sector Activities. At

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3744-518: The late 1980s that the structural adjustment programs of the World Bank had been responsible for "reduced health, nutritional and educational levels for tens of millions of children in Asia , Latin America , and Africa ". The president of the bank is the president of the entire World Bank Group . The president is responsible for chairing meetings of the boards of directors and for overall management of

3816-537: The life of Tarbela Dam located downstream by 35 years; and (iv) control flood damage by the River Indus downstream during high floods. However, in response to using Basha Dam to sideline the Kalabagh Dam , Engineer Anwer Khurshid has stated that "Bhasha dam is no substitute for Kalabagh dam not because of its altitude which is high enough, but because no irrigation canals can be taken out from it because of

3888-731: The loans to eighty poorer countries. Wealthier nations sometimes fund their own aid projects, including those for diseases. Robert B. Zoellick, the former president of the World Bank, said when the loans were announced on 15 December 2007, that IDA money "is the core funding that the poorest developing countries rely on". World Bank organizes the Development Marketplace Awards , a grant program that surfaces and funds development projects with potential for development impact that are scalable and/or replicable. The grant beneficiaries are social enterprises with projects that aim to deliver social and public services to groups with

3960-466: The lowest incomes. In 2013 the bank adopted the concept of Shared Prosperity as one of the World Bank’s “Twin Goals” for that year, with the other one focusing on poverty reduction, aiming to reduce the share of people in extreme poverty to 3 percent of the global population by 2030. The bank defined Shared Prosperity as increasing the income of the bottom 40 percent of the population in each country. As

4032-456: The main dam having six turbines on each side with a total installed capacity of 4500 MW. On 13 May 2020, the Pakistani government signed a Rs.442 billion contract with a joint venture of China Power and Frontier Works Organisation (FWO) for the construction of the dam. The eight million acre feet (MAF) reservoir with 272-metre height will be the tallest roller compact concrete (RCC) dam in

4104-447: The most support. The most common classification of gravity dams is by the materials composing the structure: Composite dams are a combination of concrete and embankment dams . Construction materials of composite dams are the same used for concrete and embankment dams. Gravity dams can be classified by plan (shape): Gravity dams can be classified with respect to their structural height: Gravity dams are built to withstand some of

4176-405: The next president of the bank. Jim Yong Kim was elected on 27 April 2012 and reelected to a second five-year term in 2017. He announced that he would resign effective 1 February 2019. He was replaced on an interim basis by now-former World Bank CEO Kristalina Georgieva , then by David Malpass on 9 April 2019. David Malpass faced criticism in 2023 as he had "sparked outcry by appearing to question

4248-552: The plan, the Diamer-Bhasha Dam project was proposed to be built in the first phase. In November 2008, the executive committee of National Economic Council formally approved the project. Council of Common Interests Pakistan, a constitutional body representing the provinces, also approved the construction of the dam. The Prime Minister of Pakistan laid the foundation stone of the project on 18 October 2011. The construction work will take approximate 9 years. In November 2008,

4320-545: The public in a way that encourages reuse, whereas the recent publications describing them are available as open access under a Creative Commons Attribution License , for which the bank received the SPARC Innovator 2012 award. The World Bank hosts the Open Knowledge Repository as an official open access repository for its research outputs and knowledge products. The World Bank's repository

4392-552: The secretary of water and power to start physical work on the dam before the end of 2017. On 14 November 2017- Pakistan dropped its bid to have the dam financed under the China-Pakistan Economic Corridor framework as China placed strict conditions including on the ownership of the project. China had projected the cost of the dam to be $ 14 billion and to secure its investment China wanted Pakistan to pledge another operational dam to it. On July 4, 2018-

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4464-437: The strongest earthquakes . Even though the foundation of a gravity dam is built to support the weight of the dam and all the water, it is quite flexible in that it absorbs a large amount of energy and sends it into the Earth's crust. It needs to be able to absorb the energy from an earthquake because, if the dam were to break, it would send a mass amount of water rushing downstream and destroy everything in its way. Earthquakes are

4536-471: The surrounding soil. Uplift pressures can be reduced by internal and foundation drainage systems. During construction, the exothermic curing of concrete can generate large amounts of heat. The poorly-conductive concrete then traps this heat in the dam structure for decades, expanding the plastic concrete and leaving it susceptible to cracking while cooling. It is the designer's task to ensure this does not occur. Gravity dams are built by first cutting away

4608-542: The vaccine The US Treasury has committed $ 667 million for the World Bank's global Pandemic Fund, a third of the $ 2 billion the fund hopes to raise. The Pandemic Fund, established in September 2022, is a collaborative initiative among countries, implementing partners, philanthropies, and civil society organizations. It aims to fund investments that address critical gaps in pandemic prevention, preparedness, and response capacities at national, regional, and global levels, with

4680-465: The weight of the dam and water. There are three different tests that can be done to determine the foundation's support strength: the Westergaard, Eulerian, and Lagrangian approaches. Once the foundation is suitable to build on, construction of the dam can begin. Usually gravity dams are built out of a strong material such as concrete or stone blocks, and are built into a triangular shape to provide

4752-415: The world. Long-term challenges facing the project since its inception in 1998 including securing funding from international lenders, groups such as the World Bank, Asian Development Bank and IMF were unwilling to lend because the dam was in territory disputed by Pakistan and India. However, the government of Imran Khan addressed these financial challenges in 2021 by issuing Pakistan's first-ever green bond,

4824-549: Was appointed to the presidency in 1968 by Lyndon B. Johnson . McNamara implored bank treasurer Eugene Rotberg to seek out new sources of capital outside of the northern banks that had been the primary sources of funding. Rotberg used the global bond market to increase the capital available to the bank. One consequence of the period of poverty alleviation lending was the rapid rise of debt of developing countries . From 1976 to 1980, developing world debt rose at an average annual rate of 20%. The World Bank Administrative Tribunal

4896-443: Was aware of the need to instill confidence in the bank. Fiscal conservatism ruled, and loan applications had to meet strict criteria. The first country to receive a World Bank loan was France in 1947. The bank's president at the time, John McCloy , chose France over two other applicants, Poland and Chile. The loan was for US$ 250 million, half the amount requested, and came with strict conditions. France had to agree to produce

4968-454: Was collected. Furthermore, the fund was seen as an exercise in judicial overreach, with Nisar's actions during his tenure, including the initiation of the fund, being seen as controversial. Gravity dam A gravity dam is a dam constructed from concrete or stone masonry and designed to hold back water by using only the weight of the material and its resistance against the foundation. Gravity dams are designed so that each section of

5040-421: Was established in 1980, to decide on disputes between the World Bank Group and its staff where allegation of non-observance of contracts of employment or terms of appointment had not been honored. McNamara was succeeded by U.S. President Jimmy Carter 's nominee, Alden W. Clausen , in 1980. Clausen replaced many members of McNamara's staff and crafted a different mission emphasis. His 1982 decision to replace

5112-522: Was opened in beginning of 3rd Quarter of 2018 i.e. in January 2019 its funds have reached US$ 66.7 million (i.e. PKR 9.29 billion) approximately. The status is regularly updated on the Supreme Court of Pakistan. On 2 April 2020- it was revealed by WAPDA that Rs115.9 billion had been distributed for land acquisition of the project till February 2020. On 13 May 2020, the Pakistani government signed

5184-454: Was reduced, along with a few developing countries such as Nigeria . The voting powers of the United States, Russia and Saudi Arabia were unchanged. The changes were brought about with the goal of making voting more universal in regards to standards, rule-based objective indicators, and transparency among other things. Now, developing countries have an increased voice in the "Pool Model", backed especially by Europe. Additionally, voting power

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