Research On Model Of World Bank Loan In China

In more than 20 years of reform and opening up, developing friendship and cooperation with the World Bank, is an important part of developing international economic cooperation in china, As an important representative of global financial institutions, the World Bank not only giving financial support to the country's economic development. mainly provideing more advanced management concepts,that is scientificly,systemically,and strictly lending model and management model. in the course of China's economic restructuring and development, efficiency is low in the use of loans from international financial organizations. and the concept of scientific management mechanism is not yet perfect ;in this sistution How introduce effective model of the World Bank loan.and also easy to use source of transplant experience, combined with China's actual situation, to construct a reasonable model of World Bank loan has theoretical and practical value, which is purpose of this study lies.Since the 1960s of the 20th century, from aid projects, that is, foreign aid to developing countries and the growth of investment research, Harrod– Domar model with two-gap model are the research fundment. Foreign scholars from the perspective of development economics evaluation of the aid flows, a number of models (such as Helle. and the 1975 fiscal response model) are set up, whether foreign or domestic scholars from theoretical and empirical studies have shown that aid loans in the process of resolving the contradictions of economic globalization has played a tremendous role in promoting economic growth.World Bank, the International Bank for Reconstruction and Development is a product of the Bretton Woods agreement. In 11 the United Nations specialized agencies, is international financial institutions operating independently. also the largest international financial organizations, the most extensive impact of the strengthening of international economic and monetary cooperation. stability of the international financial order to play a very important role, the World Bank Executive Board under the Council as a decision-making body. One man elected president of the Executive Board and Chairman of the Executive Board, in charge of the daily affairs, under it are the Operations Bureau. World Bank funds are mainly owned by member countries in the international financial market by issuing bonds and bank transfer claims World Bank loan conditions :①limited to Member States,②specific development projects,③the World Bank confirmed lenders without other reasonable funding channels ,④major foreign exchange expenditure. World Bank loans has long period of 20-30 years, with low interest rates, raising the cost of interest or 0.5% margin. with a grace period of 5-10 years (and only charges 0.5%). IDA is the World Bank's subsidiary bodies, the International Finance Corporation, the Multilateral Guarantee Agency, International Center for Settlement of Investment Disputes. World Bank loan types :①specific investment loans,②sector loans,③structural adjustment loans,④technical assistance loans,⑤emergency rehabilitation loans. Operational activities focused on reducing poverty, protecting the environment, developing human resources,helping member countries to reduce their debt,strengthening private sector development.World Bank, as an advocate of the market economy. Spontaneous regulation of the market economy that is the basic force for promoting economic development. and through its operational policies to finish. World Bank economic theory and economic development of the latest thinking in light of the actual situation. research on the current process of economic development, such as witch on the major problems and solutions. evolution of the World Bank in four stages of development policy. The first stage : the establishment of the mid-1960s to 1945– according to Harold Donald rationale for economic growth model based on race, The primary goal of development assistance made loans mainly to the economy sector; The second phase of the mid-1960s to the early 1980s based on "growth redistribution model" theory. World Bank poverty reduction as its core business, lending to the agricultural sector; The third stage : the late 1980s and early 1990s. "-- market price" mechanism, the proposed development of the developing countries to establish a market mechanism; Phase IV : the early 1990s to now, based on the theory of Western development aid, "the government mangement" feature. World Bank in 1981 after an extensive and thorough investigation and China's great efforts in China, China can also be used to establish a loan Cooperation Strategy, 81-91, the two sides repeated run, the two sides reached mutual trust, mutual respect, China can obtain loans has increased; mainly in the economic system, 91 years, strategy for the sector for infrastructure and internal adjustment loans, and then transferred to the "strategic partner country". Strategy in China 25 years can be evaluated in five areas :①the World Bank in developing countries to strengthen their own development policies and the contradictions;②international standards with the World Bank to implement the reform process and development model diversity contradictions;③World Bank strict security policy and development needs of contradictions;④World Bank stressed that poverty means be restricted to achieve the ultimate goal and contradictions;⑤World Bank emphasized the "civil society" to participate in and adhere to professional standards between them.World Bank loans model since its inception several decades, gradually formed the scientific practice, systematic and standardized loan management procedures should be followed and draw on the loan outstanding national model. World Bank loan model : Identification of the project→project prepared→project evaluation→project contract negotiations→project implementation and monitoring and evaluation of project summary. World Bank lending model in the developing countries : World Bank model shows the use of the World Bank loans made in reducing poverty, protection of the environment, human resources development, debt reduction and strengthening the private sector will play a major role in development. projects have greatly improved the success rate of capital to further improve efficiency, efficient use of resources. industrial distribution, and the economic structure has become more rational, more favorable to the development of the international economic environment, particularly the introduction of advanced, rational management philosophy and practice review law lending standards have emerged through the lending policies of political philosophy interfere in the internal affairs of other ills are yet to be perfected, the model size of the external debt of developing countries to relax controls, ignore the specific situation of the recipient. The World Bank loan model general pattern : for the recipient to provide development funds also introduced advanced, standards, systems and the management philosophy the main thing is not the policy of loans with a bias, but also concrete and practical considered inadequate, The article also detail the bank's loan classification management model. My model is the World Bank loans were used for the first timesince the 1980 World Bank loan for 30 years to evolve, from scratch. Gradually improving from the imperfect to perfect. Existing loans model : projects application→State approve→for the World Bank reportedly agreed to ratify→reported→demonstration project to determine the feasibility of the project→the project design→contract negotiations→completion→the implementation→operation. Several World Bank loans were used to pay particular attention to the issue :①loan and the establishment apart from the general cost-effective option, Both sides need to give full consideration to the policies and goals mesh; projects in advance; The convergence of the two procedures;②handle the project management division and coordination of regional projects under③and the project features a combination of factors, such as loans for projects to establish and implement projects to raise lending conditions,④countpart funds;⑤Strict implementation and management of procurement tenders .⑥to avoid credit risks is an important aspect of this pattern strengthen capacity-building;⑦strongthenning management team . also presents a loan from the World Bank's active role in China's economic construction.World Bank lending model and model adaptation loan.①projects identified in the main priority areas are the same :②in the process of implementing the relevant Chinese departments in charge of examination and approval of the World Bank prepared to act on the same item③China is prepared to information and cooperated with the World Bank agreed to participate as.④project evaluations, China's involvement in the preparation of the assessment report consistent with the World Bank .⑤project supervision and implementation of the same .⑥bidding.and disbursement are the same. Performance difference between the①lending policy differences :②system reforming impairments .③financial management reform needed;④There are many different sources of funding and raiseing .⑤projects completed and summarized evaluation of the project are not same.⑥risk aversion is not a deviation . World Bank loan principal problem:①debt reduction :②commercial operation on the issue③relief to the opposition left-wing ;④slow and the lack of focus ,⑤management issues. these errors and problems of World Bank loan model remained to be resolved.Construction of the World Bank loan will depend on the rational model of synergy and convergence of policy options. Loan trend:①research and technical assistance to further strengthen economic cooperation;②loans loans in China's central and western regions tend to .③the distribution sector will continue to be poor, mainly infrastructure. Construction of the World Bank loan rational model of this study : departments and local governments to establish development projects utilizing foreign capital→in priority areas Secretary→reported to the State→the World Bank approved the project plan→credits from the World Bank will jointly prepared with the strict implementation and evaluation→signing→tender payment, accounting,→completion and acceptance of financial and audit system operation→summary evaluation.