United States Agency for International Development

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The World Bank
The World Bank is an international money-lending institution that seeks to assist its member countries in overcoming a wide range of challenges to reduce the world’s poverty level. The 1944 conference held in Bretton Woods, New Hampshire led to the formation of the International Bank for Reconstruction and Development (IBRD) CITATION Wor192 \l 1033 (World Bank, History, 2019). As the name of the bank suggests, its principal objective was to give financial assistance in the form of loans to the European countries for the sole purpose of infrastructural as well as economic reconstruction.
As highlighted, the bank’s original goal was to assist the post-World War II European countries to recuperate from the damages incurred during the carnage. Other objectives of the financial institution include the promotion of private development and enhance long-term balanced growth in international trade CITATION Cle15 \l 1033 (Clemens, 2015). The World Bank shifted focus towards poverty alleviation in developing and third world countries in the 1970s. Currently, the financial organization is also at the forefront in the fight against environmental pollution and climate change which adversely affect the efforts put towards poverty reduction. The organization also collaborates with the private sector, governments, and non-governmental organizations in creating investment opportunities and promotion of employment to the youth as long-term solutions towards poverty reduction in the developing countries.
The international financial organization is currently carrying an electrification project in the Central African Republic referred to as CAR Emergency Electricity Supply and Access Project CITATION Wor191 \l 1033 (World Bank, The World Bank In Africa; Sub-Saharan Africa’s growth is projected to reach 3.1 percent in 2018, and to average 3.6 percent in 2019–20., 2019). World Bank recently approved and commenced a project dubbed, AF III DRC Health System Strengthening for Better Maternal and Child Health Results, in the Democratic Republic of Congo to enhance the nation’s maternal and child healthcare services CITATION Wor19 \l 1033 (Group, 2019).
United States Agency for International Development (USAID)
The United States Agency for International Development (USAID) is an organization through which the people or the government of the United States provide foreign assistance to partner countries around the world. The organization was formed in 1961 on November 3rd as an umbrella organization synchronizing all the multi-agency assistance activities provided by the United States across the globe CITATION USA18 \l 1033 (USAID, 2018). It was President John F. Kennedy who spearheaded the formation of the new organization under which all foreign assistance operations would take place. The agency reflects American values of freedom, liberty, and equality for all as the basis for establishing development partnerships with the host nation CITATION USA18 \l 1033 (USAID, 2018).
The agency’s original goal after its formation in 1961 was to provide development assistance towards the satisfaction of basic human needs and thus improving the quality ...