Тексты по английскому

Тексты по английскому.

Text №7 The World Bank.

There arc two parts to the World Bank: the International Bank for Reconstruction and Development (IBRD), and the International Development Association (IDA). The latter has a further affiliate, the International Finance Corporation (IFC). Set up in 1945, the World Bank seeks to help raise standards of living in developing countries by channelling resources from developed countries to the developing world. Its original capital was contributed by the 146 countries who own the Bank, but its loans are largely financed by borrowing on the world's money markets. In the past it has played a large part in financing major projects around the world. Today the emphasis has shifted to more grass- roots projects, particularly labour-intensive projects aimed at helping the poorest sections of the world's population, by raising their productivity and integrating them into the developing process as active partners in progress. The World Bank has an office in London, but its head office is in Washington DC.



Text №11. STOCK MARKETS.

Stock Markets are the means through which securities are bought and sold. The origin of stock markets goes back to medieval Italy. During the 17th and 18lh centuries Amsterdam was the principal centre for securities trading in the world. The appearance of formal stock markets and professional intermediation resulted from the supply of, demand for and turnover in transferable securities. The popularity of transferable instruments as a means of finance continued to grow and at the beginning of the 20"' century there was an increasing demand for the facilities provided by stock exchanges. The largest, most active and best organized markets were established in Western Europe and the United States. Despite their common European origins there was no single model which every country copied. Members of stock exchanges drew up rules to protect their own interests and to facilitate the business to be done by creating an orderly and regulated marketplace. Investors were interested in a far wider range of securitie than those issued by local enterprises. Increasingly, these local exchanges were integrated into national markets.. The rapid development of communications allowed stock exchanges to attract orders more easily from all over the country and later the barriers that had preserved the independence and isolation of national. exchanges, were progressively removed.



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