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93-415: TPPA may refer to: Trans-Pacific Partnership Agreement, a trade agreement Treponema pallidum particle agglutination assay , a test for the causative agent of syphilis Topics referred to by the same term [REDACTED] This disambiguation page lists articles associated with the title TPPA . If an internal link led you here, you may wish to change

186-679: A resolution of participation. Japan notified completion of domestic procedures for ratification to the depositary of the TPP treaty (New Zealand) as the first ratified country on 20 January 2017. New Zealand ratified the TPP on 11 May 2017. New Zealand Prime Minister Jacinda Ardern (in office from October 2017) planned to renegotiate the Trans-Pacific Partnership (TPP) agreement in Vietnam in November 2017 in time to allow

279-587: A 90-percent reduction of all tariffs between member countries by 1 January 2006, and reduction of all trade tariffs to zero by the year 2015. Although original and negotiating parties are members of the Asia-Pacific Economic Cooperation (APEC), TPSEP is not an APEC initiative. However, the TPP is considered to be a pathfinder for the proposed Free Trade Area of the Asia Pacific (FTAAP), an APEC initiative. In January 2008,

372-545: 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

465-640: 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

558-488: A minimum wage, benefits, and safety programs". The USTR asserts that "research also shows that trade improves human rights conditions by fostering pluralistic institutions and increasing open exchanges of information." PolitiFact rates President Obama's claim that due to the Trans-Pacific Partnership "we've got a country like Malaysia taking really serious efforts to crack down on human trafficking " as "mostly true". PolitiFact notes that Malaysia began to comply with

651-629: A new version of the agreement that lacked the 85% GDP threshold, the CPTPP , which entered into force in December 2018. On 23 January 2017, US President Donald Trump signed a presidential memorandum to withdraw the United States' signature from the agreement , making its ratification as it was in February 2016 virtually impossible. On 13 April 2018, Trump said the United States may rejoin

744-488: A positive opinion of it than those who are members of the Republican Party. Moreover, younger people are more likely to support it than their elders. President Donald Trump has expressed opposition to the TPP as a tenet of his 2016 election platform, which contributed to his popularity. Critics complained that while Trump has worked to contain the economic and geostrategic influence of China, withdrawing from

837-621: 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

930-505: A sizable majority of U.S. adults view foreign trade as conducive to U.S. growth rather than a foreign threat. In an international context, however, Americans generally are among the least likely to support the Trans-Pacific Partnership. A clear partisan divide exists among the U.S. public in supporting the trade deal, with those who identify as members of the Democratic Party or are politically independent being more likely to have

1023-501: A troubling signal of American disengagement in the Asia-Pacific region at a time we can least afford it." U.S. Senator Bernie Sanders applauded the move, saying "For the last 30 years, we have had a series of trade deals… which have cost us millions of decent-paying jobs and caused a ‘race to the bottom’ which has lowered wages for American workers." In a 2018 study conducted on general foreign trade, researchers have found that

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1116-651: 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),

1209-769: 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

1302-466: 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

1395-510: 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 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,

1488-669: 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

1581-489: 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

1674-426: 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

1767-560: The Brookings Institution in 2013, the most fundamental challenge for the TPP project regarding China was that "it may not constitute a powerful enough enticement to propel China to sign on to these new standards on trade and investment. China reacted by accelerating its own trade initiatives in Asia." In 2013, it was thought China might still be interested in joining the TPP eventually. An academic analysis has shown that while

1860-484: 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

1953-689: The Congressional Research Service , TPP "would be the largest U.S. FTA by trade flows ($ 905 billion in U.S. goods and services exports and $ 980 billion in imports in 2014)". Including the US, the signatories represent roughly 40% of global GDP, and one-third of world trade. In addition, the agreement mandates expedited customs procedures for express shipments and prohibits customs duties from being applied to electronic transmissions. It also requires additional privacy, security, and consumer protections for online transactions and encourages

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2046-730: 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,

2139-797: The Natural Resources Defense Council and the World Wide Fund for Nature joined with the Sierra Club in criticizing the TPP. After the announcement of the United Nations Sustainable Development Goals (SDGs) on 25 September 2015 and the finalisation of the TPP a week later, critics discussed the interactions between the SDGs and the TPP. While one critic sees the TPP as providing a mixed bag of benefits and drawbacks to

2232-662: The Peterson Institute for International Economics , the World Bank and the Office of the Chief Economist at Global Affairs Canada stated that the final agreement, if ratified, would have led to net positive economic outcomes for all signatories. Many observers at the time said the trade deal would also have served a geopolitical purpose, namely to reduce the signatories' dependence on Chinese trade and bring

2325-749: The Trans-Pacific Strategic Economic Partnership Agreement (TPSEP or P4) signed by Brunei, Chile, New Zealand and Singapore in 2005. Beginning in 2008, additional countries joined the discussion for a broader agreement: Australia, Canada, Japan, Malaysia, Mexico, Peru, the United States, and Vietnam, bringing the negotiating countries to twelve. In January 2017, the United States withdrew from the agreement. The other 11 TPP countries agreed in May 2017 to revive it and reached agreement in January 2018. In March 2018,

2418-646: The United Nations Convention Against Corruption (UNCAC); criminalize bribery of public officials; have in place a code of conduct for public officials; take measures to decrease conflicts of interest; effectively enforce anti-corruption laws and regulations; and involve private organizations in the fight against corruption. According to the Office of the United States Trade Representative ,

2511-566: The World Trade Organization . The TPP includes a negative-list of all sectors covered for the liberalizing trade, except for those clearly stated. The TPP includes new regulation for online commerce , treatment of foreign investors, far more comprehensive protection for intellectual property, labor codes, and an agreement for neutrality regarding state-owned enterprises . A 2016 study by University of Maryland political scientists Todd Allee and Andrew Lugg finds that out of

2604-522: 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

2697-653: 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

2790-523: The 11 countries signed the revised version of the agreement, called Comprehensive and Progressive Agreement for Trans-Pacific Partnership . After ratification by six of them (Australia, Canada, Japan, Mexico, New Zealand and Singapore), the agreement came into force for those countries on 30 December 2018. The original TPP contained measures to lower both non-tariff and tariff barriers to trade , and establish an investor-state dispute settlement (ISDS) mechanism. The U.S. International Trade Commission ,

2883-535: The 74 previous trade agreements that TPP members signed since 1995, the text of the TPP most resembles that from earlier U.S. trade agreements. A 2017 study found that the TPP scored high relative to other trade agreements in terms of a government's ability to freely legislate and implement regulations in given public policy domains. The agreement cuts over 18,000 tariffs. Tariffs on all U.S. manufactured goods and almost all U.S. farm products would be eliminated, with most eliminations occurring immediately. According to

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2976-584: The CJK FTA, which did not include the U.S. By this means Japan intended to use the People's Republic of China card in order to shift TPP negotiations away from China towards Japan's agendas with support of the United States. Ratification of the TPP in Japan required political reforms that shifted some authority from the agriculture ministry to the prime minister. On 9 December 2016 Japan's House of Councillors made

3069-696: The IMF are both based in Washington, D.C., and work closely with each other. Although many countries were represented at 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,

3162-504: The New Zealand government to ban foreign speculators from buying existing New Zealand homes. She said: "Our view is that it will be possible to balance our desire to make sure that we provide housing that's affordable, by easing demand and banning foreign speculators from buying existing homes, while meeting our trade goals." During a speech on the 2016 presidential campaign , Republican Party nominee Donald Trump vowed to withdraw

3255-518: The Philippines, Colombia , and Hong Kong as of 2010; Thailand as of 2012; and Indonesia , Bangladesh , and India as of 2013. According to law professor Edmund Sim in 2013, many of these countries would need to change their protectionist trade policies in order to join the TPP. The largest economy in the Pacific Rim not involved in the negotiations was China . According to

3348-895: The SDGs, another regards the TPP as being incompatible with the SDGs, highlighting that if the development provisions clash with any other aspect of the TPP, the other aspect takes priority. The Friends of the Earth have spoken out against the TPP. The White House has cited supportive statements from the World Wildlife Fund , the Nature Conservancy , the Humane Society , the Wildlife Conservation Society , Defenders of Wildlife , International Fund for Animal Welfare , World Animal Protection and other environmental groups in favor of

3441-570: The TPP in June 2015, amending its law to improve the treatment of trafficking victims. Among the changes, Malaysia gave victims better access to government shelters, transitional housing and more victim-friendly restitution procedures. Malaysia has also taken steps to stop human trafficking within the construction industry. In August 2017, Reuters reported that the Vietnamese government was intensifying repression of human rights, in part because of

3534-479: The TPP missed an opportunity to be an original and progressive contribution to the environmental agenda. However, the TPP is innovative in its utilization of a combination of the American and the European approaches in environmental protection. Indeed, in doing so, the TPP became much more detailed and specific than regular US agreements while being legally more enforceable than European agreements. In 2013 when TPP

3627-625: The TPP prohibits exploitative child labor and forced labor; ensures the right to collective bargaining ; and prohibits employment discrimination. The USTR asserts that "research by the International Labor Organization and the World Trade Organization finds that combining expanded trade opportunities with strong protections for workers can help workers move from informal-sector jobs into formal work in wage-paying, regulated export industries which offer

3720-406: The TPP reduced the effectiveness of a treaty that was designed to do exactly that. In any case, free trade has been a politically contentious issue in the U.S. Many Presidential candidates vigorously oppose it while those who initially stood behind it became a lot less vocal in their support. Following the 2020 Presidential election, there is little enthusiasm for the TPP among elected officials in

3813-433: The TPP would be more successful if China participated in it, the benefits to China are intangible. In October 2015, Indonesian President Joko Widodo declared Indonesia's intention to join the TPP. As of 2016 , Sri Lanka announced its interest in joining the TPP and studied its feasibility. Likewise, as of 2016 Cambodia announced its interest in joining the TPP and is studied its feasibility. In February 2021,

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3906-570: The TPP, and was invited to the TPP negotiating rounds in December 2010 by the U.S. after the successful conclusion of its Free trade agreement between the United States of America and the Republic of Korea . South Korea already had bilateral trade agreements with some TPP members, but areas such as vehicle manufacturing and agriculture still needed to be agreed upon, making further multilateral TPP negotiations somewhat complicated. Other countries that were interested in TPP membership include Taiwan,

3999-486: The TPP. The Peterson Institute for International Economics argues that the TPP is "the most environmentally friendly trade deal ever negotiated." In regards to ISDS, PIIE analysts note that there is little evidence of constraints on environmental policies resulting from ISDS litigation. A September 2016 report by the Institute for Agriculture and Trade Policy (IATP) predicts that "as countries take action to protect

4092-403: The Trans-Pacific Partnership. APEC members would have been able to accede to the TPP, as would any other jurisdiction to which existing TPP members would have agreed. After an application for membership is received, a commission of parties to the treaty would negotiate conditions for accession. South Korea did not participate in the 2006 agreement, but showed interest in entering

4185-508: The Trump administration's decision to drop the Trans-Pacific Partnership. Membership of the TPP had previously encouraged Vietnam to show a good human rights record. The intellectual property section of a leaked draft of the TPP lays out a minimum level of protection parties to the Agreement must grant for trademarks , copyright , and patents . Copyright is granted at a length of life of

4278-465: The U.S. entered talks with the Pacific 4 (P4) members regarding trade liberalisation in financial services. This led to 19 formal negotiation rounds and a subsequent series of additional meetings, such as Chief Negotiators Meetings and Ministers Meetings, and resulted in the agreement announced on 5 October 2015. Japan and New Zealand ratified the original agreement. Japan and its main competitor in

4371-522: The UK business secretary, signed the accession protocol for the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The CPTPP is a trade bloc consisting of 11 member states. The UK government claims that this agreement will provide British businesses with access to a market of 500 million people, resulting in significant benefits. However, critics argue that the economic impact of

4464-538: The United Kingdom applied for membership of the CPTPP , the successor to the TPP. In September 2021, China applied for membership of the CPTPP . Japan, the 2021 chair of the CPTPP, said that it would consult with member countries to respond to China's request. In July 2023, as CPTPP members formally accepted the United Kingdom as the 12th member, Australia indicated that China has no hope of being accepted in

4557-461: 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

4650-410: The United States from TPP in January 2017, therefore ensuring the TPP could not be ratified as required and did not enter into force. The remaining countries negotiated a new trade agreement called Comprehensive and Progressive Agreement for Trans-Pacific Partnership , which incorporated most of the provisions of the TPP and which entered into force on 30 December 2018. The TPP began as an expansion of

4743-430: The United States from the Trans-Pacific Partnership if elected. He argued that the agreement would "undermine" the U.S. economy and its independence. On 21 November 2016, in a video message, Trump introduced an economic strategy of "putting America first", stating that he would negotiate "fair, bilateral trade deals that bring jobs and industry back onto American shores." As part of this plan, Trump confirmed his intent for

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4836-414: The United States to withdraw from the Trans-Pacific Partnership on his first day in office. McConnell affirmed that the TPP would not be considered during the lame-duck session of Congress preceding the inauguration of Trump. President Trump signed a presidential memorandum to withdraw the U.S. from the TPP on 23 January 2017. U.S. Senator John McCain criticized the withdrawal, saying "it will send

4929-481: 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,

5022-549: 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

5115-489: 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

5208-703: 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,

5301-404: 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,

5394-490: 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 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

5487-460: The agreement had not been ratified by all before 4 February 2018, it would have entered into force after ratification by at least 6 states which together have a GDP of more than 85% of the GDP of all signatories. The withdrawal of the United States from the agreement in January 2017 effectively ended any prospect of the agreement entering into force. In response the remaining parties successfully negotiated

5580-438: The author plus 70 years, and requires countries to set criminal penalties for violating copyright protections such as digital rights management . The Office of the United States Trade Representative stated that the TPP would spur innovation by requiring signatories to establish strong patentability standard and adopt strong copyright protections. Walter Park, Professor of Economics at American University , argues, based on

5673-537: 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

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5766-526: 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",

5859-563: 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

5952-478: The bank made 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

6045-449: 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

6138-408: The bank's governance and response to the COVID-19 pandemic . The current president (starting in 2023) 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

6231-410: 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

6324-400: 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

6417-458: The climate, conflicts between trade rules and climate goals will escalate". The report goes on to say that trade agreements like the TPP set broad-reaching rules for the economy and government policy, thereby expanding trade, often in extractive sectors, and protecting corporations and financial firms from future measures to stabilize the climate. According to the Office of the United States Trade Representative , signatories are required to join

6510-437: 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

6603-574: 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

6696-414: The deal over a 10-year period will be limited. A version of the text of the agreement "subject to legal review" was released by prospective member parties on 5 November 2015. Portions of drafts of the full agreement were previously leaked to the public. Many of the provisions in the leaked documents are modeled on previous trade agreements. The contents of the TPP go far beyond the standards drafted by

6789-406: 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

6882-405: The existing literature, that the pharmaceutical protections in TPP will potentially enhance unaffiliated licensing in developing countries, lead to tech transfers that contribute to local learning-by-doing, stimulate new drug launches in more countries, expand marketing and distribution networks, and encourage early-stage pharmaceutical innovations . World Bank As of 2022 , the World Bank

6975-640: The federal government. TPP's future was uncertain after the United States withdrew. Several signatories, however, signaled their intention to rework TPP without US participation. In January 2018, the remaining eleven countries agreed on a revised TPP, now renamed the " Comprehensive and Progressive Agreement for Trans-Pacific Partnership " (CPTPP). CPTPP is substantially the same as TPP, but omits 20 provisions that had been added to TPP at US insistence and that are now no longer binding. These provisions primarily relate to investment, government procurement and intellectual property . On 16 July 2023, Kemi Badenoch,

7068-730: 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

7161-518: 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

7254-463: The link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=TPPA&oldid=933216788 " Category : Disambiguation pages Hidden categories: Short description is different from Wikidata All article disambiguation pages All disambiguation pages Trans-Pacific Partnership The Trans-Pacific Partnership ( TPP ), or Trans-Pacific Partnership Agreement ( TPPA ),

7347-731: 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

7440-466: 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

7533-764: The near term. Brunei, Chile, Singapore and New Zealand are parties to the Trans-Pacific Strategic Economic Partnership Agreement (TPSEP), which was signed in 2005, and entered into force in 2006. The original TPSEP agreement contains an accession clause and affirms the members' "commitment to encourage the accession to this Agreement by other economies". It is a comprehensive agreement, affecting trade in goods, rules of origin, trade remedies, sanitary and phytosanitary measures , technical barriers to trade, trade in services, intellectual property, government procurement and competition policy. Among other things, it called for

7626-405: 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

7719-545: 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

7812-760: The publication of online customs forms. These provisions are expected to be particularly beneficial to small businesses. Morin and Baumier of the Canada Research Chair in International Political Economy (writing for the International Centre for Trade and Sustainable Development) argue that while the TPP contains an impressive number of environmental provisions and a wide range of environmental protection areas, very few of these standards are innovative, most of which being copied from previous US agreements, and that

7905-464: The region, China, hold polar views on how South-East Asia's economy should develop. Prior to TPP, Japan tried to achieve dominance by proposing in September 1997 an Asian Monetary Fund (AMF), which never eventuated in the face of U.S opposition. By 2011 Japan managed to establish a cooperative agreement with China and Korea called the "PRC–Japan–Republic of Korea Free trade agreement", also known as

7998-448: The signatories closer to the United States. Twelve countries participated in negotiations for the TPP: the four parties to the 2005 Trans-Pacific Strategic Economic Partnership Agreement and eight additional countries. All twelve signed the TPP on 4 February 2016. The agreement would have entered into force after ratification by all signatories, if this had occurred within two years. If

8091-485: 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

8184-436: Was a proposed trade agreement between 12 Pacific Rim economies: Australia , Brunei , Canada , Chile , Japan , Malaysia , Mexico , New Zealand , Peru , Singapore , Vietnam , and the United States . In the United States, the proposal was signed on 4 February 2016 but not ratified as a result of significant domestic political opposition. After taking office, the newly elected President Donald Trump formally withdrew

8277-549: 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

8370-443: 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

8463-421: 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

8556-454: 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

8649-475: Was still being negotiated, Sierra Club 's director of responsible trade, Ilana Solomon, argued that the TPP "could directly threaten our climate and our environment [including] new rights that would be given to corporations, and new constraints on the fossil fuel industry all have a huge impact on our climate, water, and land." Upon the release of a draft of the Environment Chapter in January 2014,

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