Ida funding

While the IBRD raises most of its funds on the world's financial

markets, IDA is funded largely by contributions from the governments

of its richer member countries. Additional funds come from IBRD's

income and from borrowers' repayments of earlier IDA credits.

IDA Replenishments

Donors get together every three years to replenish IDA funds. Donor

contributions account for 60% of the SDR 27.3 billion (US$41.6

billion) in the IDA15 replenishment, which finances projects over the

three-year period ending June 30, 2011.

45 countries contributed to the 15th replenishment of IDA. The largest

pledges to IDA15 were made by the United Kingdom, the United

States, Japan, Germany, France, Canada, Italy and Spain.

The IDA15 replenishment raised funds for poor countries for the three-

year period between July 2008 and June 2011. These are critical years

for countries trying to achieve the UN Millennium Development Goals

since it takes time for projects to be completed and yield measurable

results.

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

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that enterprise led the Bank, within a few years, to turn its attention to

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.

With the United States taking the initiative, a group of the Bank’s

member countries decided to set up an agency that could lend to the

poorest countries on the most favorable terms possible. They called the

agency the "International Development Association." Its founders saw

IDA as a way for the "haves" of the world to help the "have-nots." But

they also wanted IDA to be run with the discipline of a bank. For this

reason, US President Dwight D. Eisenhower proposed, and other

countries agreed, that IDA should be part of the World Bank.

IDA's Articles of Agreement became effective in 1960. The first IDA

loans, known as credits, were approved in 1961 to Chile, Honduras,

India and Sudan.

IDA currently has 168 member countries. Members subscribe to IDA’s

initial subscriptions and subsequent replenishments by submitting the

necessary documentation and making the required payments under the

replenishment arrangements.

Thirty-five countries have graduated from IDA throughout its history,

ceasing to borrow from the Association. Some of these countries have

since "reverse graduated," or reentered IDA.

(from http://go.worldbank.org/55TJCXJ4D0)

TASKS

Task 1. Transcribe:

(Part I) Judicial, judiciary, stipend, innovative, rigorous, entrepreneur,

threshold, to kindle.

(Part II) Malaria, to yield, to cease, subsequent.

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Task 2. Look up the pronunciation of the countries mentioned above:















Armenia

Bangladesh

Nicaragua

Tanzania

Vietnam

Indonesia

Sudan















Ethiopia

Nigeria

Cote d'Ivoire

Nepal

Chile

Honduras

Ghana

Now distribute these countries according to the parts of the world they

belong to: Asia, Africa, Central and South America. Do you know

their capitals?

Task 3. Match the following words with their definitions:

(Part I)

1. inception a) the payment for instruction, esp in colleges or

universities

2. entrepreneur b) to patch up or renovate; repair or restore

3. building

block

4. tuition

5. judiciary

6. to revamp

7. to rekindle

(Part II)

8. strife

9. to cease

10. TB

11. pledge

c) the beginning, as of a project or undertaking

d) the system of courts in a country

e) to arouse or cause to be aroused again

f) the owner or manager of a business enterprise who,

by risk and initiative, attempts to make profits

g) a component that fits with others to form a whole

h) to stop

i) tuberculosis

j) collateral for the payment of a debt or the

performance of an obligation

k) angry or violent struggle; conflict

Find words in the text which collocate with the words of this exercise.

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Task 4. Translate using the text:

(Part I)

1. оценивать проекты по тем же строгим стандартам

2. выплаты растягиваются на срок от 35 до 40 лет

3. льготный период, в течение которого не производится

погашение основной суммы кредита

4. заложить основы современного судопроизводства

5. полностью пересмотреть / коренным образом изменить

6. утраиваться

7. регулярное денежное содержание

8. копировать

9. дать толчок экономике в период застоя

10. обладание правом

11. на душу населения

12. ниже установленного порога

(Part II)

13. прокладывать путь, подготавливать почву

14. разумная экономическая политика

15. благоустройство сельской местности

16. восстановление после гражданской войны

17. обеспечивать долговую устойчивость

18. получать деньги

19. пополнение; новые запасы, ресурсы

20. давать ощутимые результаты

21. взять инициативу в свои руки

22. вступать в силу

Make up 2 sentences with the new vocabulary of ex. 3-4.

Task 5. Insert correct prepositions where necessary:

(Part I)

 to evaluate projects ... the same rigorous standards

 to provide grants ... countries ... risk of debt distress

 the number of girls in secondary schools has more than tripled ...

15 years

 to help take ... a government program ... a major scale

 GNI ... capita ... an established threshold

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 people there survive ... incomes of US$2 or less ... a day

(Part II)

 IDA-financed operations address ... primary education, basic

health services, etc.

 the struggle ... HIV/AIDS

 to advise governments ... ways to broaden the base of economic

growth

 to raise most of its funds ... the world's financial markets

 donor contributions account ... 60% of the SDR 27.3 billion

 to finance projects ... the three-year period

 to lend to the poorest countries ... the most favorable terms

possible

 to cease to borrow ... the Association

 to graduate ... IDA ... its history

Task 6. Translate in written the following paragraph:

IDA emphasizes broad-based growth, including:

– Sound economic policies, rural development, private business and

sustainable environmental practices

– Investment in people, in education and health, especially in the

struggle against HIV/AIDS, malaria and TB

– Expansion of borrower capacity to provide basic services and ensure

accountability for public resources

– Recovery from civil strife, armed conflict and natural disaster

– Promotion of trade and regional integration

Task 7. Be ready to answer the following questions:

1. What was the basic purpose IDA was created for?

2. How do you understand this statement: “IDA complements the

World Bank’s other lending arm”?

3. Where is the headquarters of the Association located?

4. How many countries does IDA assist?

5. When was it established?

6. What country is credited with initiating this organization?

7. Why did President Dwight D. Eisenhower consider it reasonable

to make IDA part of the World Bank?

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8. What impact has the Association had so far? Which of these

contributions is the most valuable, in your opinion?

9. How can a country become eligible for a credit from IDA?

10. Why is it beneficial for the poorest countries to borrow money

from IDA?

11. What economic sectors do IDA-financed operations address

first and foremost? Do you approve of these choices?

12. How does the Association raise its funds?

13. What is IDA 15? Why do you think countries take part in it?

14. Why are India, Indonesia and Pakistan called “blend” countries?

Do you think Russia belongs to this category?

15. What does it mean “to graduate from IDA”?

Task 8. Prepare a monologue about the Association. Pass your

judgment on its activities.

Task 9. Role play. Representatives of countries that borrow from IDA

have come together to discuss the following agenda:







Results yielded with the help of IDA's finances in each country

last fiscal year

Projects for the coming year

Amount of money needed to allocate for these projects

Consider that the budget is limited to $7 bln.

Appoint the chairman. Distribute the countries and look up some

information on the Internet for you to take part in the role-play (where

the Internet is insufficient, use your imagination).

Task 10. Write a letter to the World Bank representing one of the

countries of your choice and explaining what kind of project you want

the Association to finance, why you apply to IDA or IBRD (not any

other organization), how much money you need, how you are going to

distribute this money, whether you need a grant or a credit, and how

you would prefer to repay it if it were a credit (if you need a grant then

prove that you are eligible for one).

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Rendering Activity

ЕВРОПЕЙСКИЙ БАНК РЕКОНСТРУКЦИИ И

РАЗВИТИЯ

Европейский банк реконструкции и развития был создан в

1991 году, когда в государствах Центральной и Восточной Европы

рушился коммунистический строй и страны бывшего советского

блока нуждались в поддержке для создания нового частного

сектора в условиях демократии.

Сегодня инвестиционные

инструменты ЕБРР используются в целях становления рыночной

экономики и демократии в 30 странах – от Центральной Европы

до Центральной Азии.

ЕБРР является крупнейшим инвестором в регионе, и помимо

выделения своих средств привлекает значительные объемы

прямых иностранных инвестиций. Его владельцами являются 61

страна и две международные организации. Однако, хотя его

акционерами и являются представители государства, ЕБРР

вкладывает капитал главным образом в частные предприятия, как

правило, совместно со своими коммерческими партнерами.

Он осуществляет проектное финансирование банков,

предприятий и компаний, вкладывая средства как в новые

производства, так и в действующие фирмы. Он также работает с

государственными компаниями в целях поддержки процессов

приватизации и структурной реорганизации,

а также

совершенствования коммунального хозяйства. ЕБРР использует

установившиеся у него тесные связи с правительствами стран

региона в целях реализации курса на создание благоприятных

условий для предпринимательской деятельности.

Устав ЕБРР предусматривает его деятельность только в тех

странах, которые привержены принципам демократии. Забота об

окружающей среде является составным элементом надежно

работающей системы корпоративного управления и фигурирует

во всех инвестиционных операциях ЕБРР.

Во всех своих инвестиционных операциях ЕБРР должен:





способствовать становлению в стране полноценной

рыночной экономики;

брать на себя риски в целях оказания содействия частным

109

инвесторам, но при этом не вытесняя их с рынка;



применять рациональные принципы ведения банковской

деятельности.

С помощью своих инвестиций ЕБРР содействует:



проведению структурных и отраслевых реформ;



развитию

конкуренции,

приватизации и

предпринимательства;







укреплению финансовых организаций и правовых систем;

развитию необходимой инфраструктуры для поддержки

частного сектора;

внедрению надежно работающей системы корпоративного

управления,

в том числе и в целях решения

природоохранных проблем.

Являясь катализатором перемен, ЕБРР:







стимулирует софинансирование и привлечение прямых

иностранных инвестиций;

привлекает отечественный капитал;

оказывает техническое содействие.

Sources: www.ebrd.com/ru, www.ereport.ru

Language Survey

Task 1. Find in the text Russian equivalents for the following

phrases:





















110

to use the tools of investment;

intergovernmental institutions;

public sector shareholders;

new ventures and existing companies;

publicly owned companies;

the mandate of the EBRD stipulates;

part of the strong corporate governance;

to help move a country closer to a full market economy;

to apply sound banking principles;

to mobilise domestic capital.

Task 2. Give appropriate English counterparts for these bits of the

original text:

















когда рушился коммунистический строй;

выделить средства;

привлечь значительные объемы прямых иностранных

инвестиций;

совершенствование коммунального хозяйства;

реализация курса на что-л.;

предпринимательская деятельность;

быть приверженным принципам демократии;

оказывать техническое содействие.

Task 3. Translate the passage (beginning with “Во всех своих

инвестиционных операциях ЕБРР должен…” up to the end)

from Russian into English in written form.

Speaking Activity

Task 4. Answer the questions:

1. In what economic and political environment was the EBRD

established?

2. What are the basic functions of the EBRD?

3. What principle does the EBRD follow while choosing a country

where it is going to conduct financial operations?

4. What tasks and obligations does the Bank undertake?

5. What does the Bank’s help to other countries consist of?

Task 5. Render the article in English using the phrases below as a

framework for your summary. Express your professional attitude to

the role of the EBRD in the world economy.













to create a new private sector;

to build market economies and democracies;

the largest single investor in the region;

project financing for banks, enterprises and companies;

to establish close relationship with governments in the region;

to bolster the business environment (=to create favourable

conditions for enterprise activity);

111





environmental concern;

to promote co-financing.

Grammar Review

The material on the non-finite forms of the verb is prepared with

the use of the book by Alexander Vasiliev “English: pronunciation

and reading rules, grammar, spoken English”*.

PART 1. INFINITIVE

The Infinitive combines verbal and nominal features.

Verbal characteristics

The Infinitive has the following verbal categories:







secondary tenses (perfect, non-perfect)

voice (active, passive)

aspect (continuous, common)

He likes to write plays.

I suppose him to be writing a play right now.

He must have written two plays already.

He must have been writing plays since childhood.

The book should be written in German.

The document must have been written two years ago.

* Васильев А. Английский: правила произношения и чтения, грамматика,

разговорный английский. – 2005. – URL:

http://www.alleng.ru/mybook/3gram/0grammar.htm

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Active Voice				Passive Voice
Indefinite	Continuous	Perfect	Perfect Continuous	Indefinite	Perfect
to write	to be writing	to have written	to have been writing	to be written	to have been written
to look	to be looking	to have looked	to have been looking	to be looked	to have been looked

Syntactically the Infinitive shows its verbal nature in the ability to

function as part of a compound verbal predicate:

He can swim well.

She must be studying right now.

She began to ride out soon.

They stopped to take a breath .

Nominal characteristics

The Infinitive has syntactical functions those of the noun:

 subject: To look at her was real pleasure. It is easy to make

mistakes.

 object: I would like to give you a present.

 predicative: To live is to struggle . Our task is to do the work well.

 attribute: The task to complete the project in time turned out to be

too complicated. He had a great desire to travel .

 adverbial modifier: We must hurry not to miss the train.