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About: Australia and the World Bank     Goto   Sponge   NotDistinct   Permalink

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According to the Department of the Treasury (“The Treasury”) of the Australian Government, the World Bank is the single “largest multilateral partner of Australia”. Australian membership in the World Bank Group (WBG) is motivated by both 1) efforts to aid and assist the developing nations of the world and 2) to promote Australian regional interests throughout the East Asian, Southeast Asian, and greater Oceania regions. Examples of this include the multiple projects co-financed by Australia and the World Bank Group in the East Asian and Pacific regions that include the development of “infrastructure, health, education, and private sector development”. Australian membership has led to countless successful foreign aid and development projects totaling hundreds of millions; in 2012-13 alone,