World Bank Loans - A Risk or Booster?

We talk about a Global Financial Crisis that can be traceable to financial recklessness and impropriety yet, World Bank is busy disbursing funds without caution. It should concern everybody especially those who are often at the receiving end. Everyone needs a bail out, but every financial disbursement, whether loan or aid should be well intended, and above all caution should be the watch word, if truly our financial regulators mean to bail out the world economy.

No one can rule out the need for societal well being in the face of a hurting financial crunch, where most of us cannot afford basic health care needs. The World Bank $1 billion dollar loan to Nigeria for Malaria prevention could not come at better time down now. But the question of implementations should bother anyone whose money is going for that project. In fact, people need to ask questions about the health care in the country where such loan is going. Our antecedents should give our lenders and sympathizers’ insight into how these funds will be expended. If I were in World Bank shoes, I would device other means of bailout some economies; and for the same of a plural benefit, a well mapped out implementation plan must be seen before funds are released.

According to some observers, if we truly want to help societies like Nigeria to get out of the Malaria deaths, a drastic measure like fumigation, direct distribution of drugs, treated Mosquito Nets, etc will be a better approach to reaching the people who can't health care bills under the present circumstance. Hence, caution must be applied in bailout economies, giving out aids, loans and so on, giving most economies history of diverting funds into unidentifiable project or worst still into faceless government agents’ pockets.

A word would always enough for those who want to hear. More so, we cannot bail out some economies be plunging them into further impoverishment, rather a relief can be a better aid only to people who are sensitive to the current reality and true needs of its citizenry.

We must not make the same mistake over and over, and expect that the financial crisis will be over soon; for we can actually predict when it shall be over if we do the right at the right time.