Multilateral Institutions as a Tool for Sustainable Development: Evolution of the Role and Evaluation of Effectiveness: Case Study of the World Bank

In order to solve the problem of economic inequality, humankind needs sustainable development - one that combines economic, social, and environmental development in itself, so that these spheres go together and not one suffers because of the other. Sustainable development is willing to allow the meeting of the needs of present generations to be carried out without compromising the ability of future generations to meet their own needs. The influential players in the international arena - which can and does aim to positively influence development – are the international organizations. One of the most powerful multilateral institutions is the World Bank, which became the subject of this study. This organization was created at the Bretton Woods conference and can be named nowadays one of the most influential and well-known international organizations, includes the membership of almost all countries in the world. This study provides a detailed analysis of the activities of this international organization on the example of assistance to Third world countries. Also, this survey is ready to provide a detailed explanation of why the assistance provided is not always effective enough and advises on how to improve it.