Urban Development And The World Bank: Historical Perspective And Present-Day Programs

Abstract

In the global landscape of the 21st century, international institutions occupy a distinctive spot, taking in different influences that culminate in specific policy decisions. The World Bank falls within this group of organizations, presenting itself with the main goals of putting an end to extreme poverty and promoting shared prosperity, intended especially for developing and least-developed countries. In order to achieve the stated mission, the Bank operates in several fields by funding and assisting development projects alongside national and sub-national governments, private sector investors and other international institutions. One of the areas that requires massive interventions is represented by urban development, which is a central theme in many countries undergoing significant migration flows and economic growth. The role of development agencies in this field is mainly to help provide basic services and infrastructures that can improve the well-being of the urban population, such as through the building of affordable housing and the enhancement of the urban environment resilience to disasters and climate change. The Bank, throughout its history, has changed its approach in undertaking certain projects as far as structure of the interventions and financial commitment, based on the direction established by the upper management of the institution and the main external influences. Execution and final outcomes are often the products of the collective effort provided by the parties involved in the projects, so that the possible shortcomings can be attributed to different entities. Programs conducted in the urban field have contributed to general progress in some areas since the middle of the 20th century, but the projects undertaken by the Bank continue to be scrutinized and judged based on the positive and negative nuances that define them.