Introduction
Over the years, the World Bank has been at the forefront in helping the developing nations to fully integrate their systems with emerging managing technologies. Founded in 1945, the bank functions to provide advice and finance to nations for the sole purpose of developing them economically and abolishing poverty in these countries. Most of the World Bank activities are focused on budding nations, mostly in Africa and Asia.
It has continued to help these countries in diverse areas of agriculture and development of rural areas, health, education, environmental protection, governance, and infrastructure. It has established critical management technologies that aim to streamline governments’ functions of these poor countries and help develop institutions that are free from corruption – a major setback to third world economies (World Bank Group, 2008).
Main body
The World Bank, through its arms, provides loans to member nations at special rates to develop the growth areas mentioned above. Grants are offered to the least developed nations so that they may catch up with the rest. The World Bank loans and grants for explicit ventures are closely allied to broader policy changes in the economy or individual sectors of recipient nations (World Bank Group, 2008).
The World Bank is a major user of emerging managing technologies. The Bank’s basic terms of reference are helping countries to achieve economic development as well as reducing poverty levels. To achieve these crucial goals, the institution has honored the significant role played by Information and Communication Technology (ICT) in the development endeavors around the globe. Not so long ago, people and governments did not realize the benefits of using ICT in poverty reduction and advancing economic development.
Governments, especially in Africa could not understand how ICT could deal with the terrible challenges of homelessness, lack of education, lack of health services, and starvation that continued to pose problems to their populations. This was until the World Bank realized that ICT was a vital component of its broader efforts of increasing economic development and decreasing poverty levels (Thompson, 2004).
Through the grants and loans offered by the World Bank, developing nations have now taken tangible steps to integrate ICT into their development programs and economic strategies. Many nations, especially in Africa and Asia are now implementing nationwide e-strategies that lay prominence on internet connectivity as well as new applications in e-business and e-government (World Bank, 2006). In Kenya for example, the government has secured a substantial loan from the World Bank for its e-business project which is done in phases. Upon completion, the management technology will ensure that government affairs are run efficiently thus providing room for economic development.
The bank is also in the process of providing grants to a number of African countries for the construction of Business Processing Packs. This will bring employment opportunities for millions of unemployed youths thus spurring economic development and fighting poverty.
To focus on emerging managing technologies and how they can spur economic development, the World Bank has opened up a fully-fledged department in the name of the Global Information and Communication Technologies Department (GICT). This shows the seriousness in which the World Bank carries ICT and other emerging managing technologies. In education, the World Bank through GICT has realized that fast technological advancements and globalization have made the impartment of knowledge and information a significant determinant of economic development and reduction of poverty. In this regard, the World Bank has continued to play a vital task in supporting nations to take advantage of the prospects in ICT to contribute to educational objectives and reduce poverty (ICT and education, 2008).
To meet the needs of a more complicated labor force, contribute to poverty reduction, and manage information systems, the World Bank has continued to recognize the vital importance of efficiently exploiting new ICT technologies. World Bank is supporting numerous educational projects that include an ICT module. It has assisted in distant learning programs, equipment and facilities, information systems, capacity building, teacher training and support, educational content, and education management (ICT and education, 2008). This has positively affected the lives of millions of people and led to economic development.
The World Bank has been at the forefront in supporting governments and corporations to integrate e-business in their management systems. In fact, it has supported small businesses to fully integrate into e-business. The argument here is that the future of world business will be on the internet. Companies that have been helped by the World Bank to transact e-business have reported an increase in sales revenues.
E-business is a management technology that enables businesses to trade in goods and services, source clients, market products and services, and receives payments online. Small enterprises in low-income urban areas of Mexico received help from the World Bank to assimilate e-business into their management operations. In one year, the businesses reported increased growth in revenues. The competition was thriving well. The poverty level in urban Mexico was greatly reduced since the small enterprises provided livelihood to two out of three individuals in the private sector. Therefore, e-business, a management technology advocated by the World Bank has been successful in increasing the economic development of nations that have embraced its use. (World Bank Supports e-business, 2003).
E-government is another management technology that the World Bank continues to support in its endeavor to make governments lean, efficient, and accountable to their citizens. By definition, it refers to the use of ICT by government agencies that are aimed at transforming the government relations with its citizens, enterprises, and other organs of the government. E-government has been found to work wonders especially in Africa where the majority of the population live below the poverty line and thus cannot afford transport costs to visit government offices. Due to recent technologies used in e-governance, government services are now delivered better.
Respective governments can now interact better with their citizens, businesses, and industry. Citizens of nations that have embraced e-government are now empowered through having access to information on how government matters are run. Benefits that have accrued from embracing e-governance include economic growth, costs reductions, reduction in corruption cases, increased transparency in government functions, and greater convenience for citizens (E-government, 2008).
Conclusion
In conclusion, emerging managing technologies in information and communication technology have gone a long way to help the World Bank achieve its core objectives of helping nations realize an increase in economic development as well as reduce poverty levels. The Bank has been at the forefront in providing the much-needed capital to countries to make sure that they utilize the emerging technologies to better the lives of their citizens. The Bank has realized that ICT can be an engine of growth and can be effectively used to tackle poverty, more so in developing countries (Thompson, 2004).
Works Cited
Definition of e-government. 2008. The World Bank. Web.
ICT and Education. 2008. The World Bank. Web.
Thompson, Mark. “Discourse, Development, and the Digital Divide: ICT and the World Bank.” Review of African Political Economy, vol. 32, no. 99 (2004) pp. 103-123. Web.
World Bank supports e-business to increase productivity of Small businesses in Mexico. 2003. Goliath. Web.
World Bank. 2006 Information and communications for Development. World Bank Publications. Web.
World Bank Group. 2008. in Wikipedia. Web.