World Bank department which ensures greater discipline in project preparation and supervision.
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Multilateral Institution
International institution with governmental membership, spanning several regions, including financial institutions such as the World Bank and IMF, UN agencies and regional groupings.
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G-24
Group of 24 countries formed at Lima in 1972 to represent the interests of the developing countries in negotiations on international monetary matters.
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Contingency Credit Line
IMF credit line established after the financial crisis in 1997-1999. Countries are required to satisfy certain conditions in order to join the CCL to provide emergency assistance. This facility was expired in November 2003.
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Transnational Corporation
Companies which operate in more than one country but retains ownership and control in its home country.
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Poverty Reduction Strategy
Nationally-formulated strategies to reduce poverty. These aim to ensure broad stakeholder participation in formulating strategies, improve coordination among development partners and focus on combined resources of the international community to achieve poverty reduction goals.
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Inspection Panel
This closely addresses the concerns of populations affected by the World Bank's operations and ensures they adhere to the institution's operational policies and procedures regarding the design, preparation and implementation of a project.
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Environmental Impact Assessment
A study done to determine the probable environmental impact of a proposed project, to assess possible alternatives and to create environmental mitigation plans for a project that may have significant environmental impacts.
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Advocacy
The recommendation of a policy.
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Social Safety Net
Public sector measures to protect the poor and vulnerable including public work schemes, unemployment benefits, food securities, etc.
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Paris Club
Informal association of credit country finance ministers and Central Bankers which meets to negotiate bilateral debt rescheduling agreements with indebted country governments.
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Heavily-Indebted Poor Countries Initiative
Arrangement for reducing multilateral, bilateral and private sector debt for the poorest, most indebted countries.
