JOURNAL OF BUSINESS DIVERSITY
The Role of International Financial Institutions in Protecting the Vulnerable During Pandemics: Focus on World Bank in Developing Economies
Author(s): Francis Kofi Korankye-Sakyi
Citation: Francis Kofi Korankye-Sakyi, (2021) "The Role of International Financial Institutions in Protecting the Vulnerable During Pandemics: Focus on World Bank in Developing Economies," Journal of Business Diversity, Vol. 21, Iss. 2, pp. 170-173
Article Type: Research paper
Publisher: North American Business Press
Abstract:
This article assesses the position of International Financial Institutions (IFIs)1 such the World Bank in times of global crises. It finds out that during such times, international aid to thriving economies are not difficult to mobilise but without deliberate effort to trace the accountability of such funds. This article argued that law is central to advancing the plight of the vulnerable in society and the World Bank must direct aid to the legal structures and institutions in order to be positioned to assist the vulnerable to fight through the COVID-19 pandemic era. It recommends that the World Bank must follow up with enhancing and equipping legal structures of developing countries accessing any fund from it to ensure that such resources are channelled into the right economic sectors and that countries are deterred from laundering, misdirecting and misuse of funds.
