Japan, being a highly developed and market-oriented economy, is the world's third largest economy by nominal GDP and is the second largest developed economy in the world, Japan has recovered from the devastation to become the world's largest and second largest economy. This was only possible after Japan joined the World Bank in 1952. The World Bank's help allowed Japan to transform its economy and move from a World Bank borrower to a World Bank creditor. This transformation interested me and therefore I chose this topic. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay The World Bank is an international financial institution that provides loans to countries around the world for capital programs. It comprises two institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). The World Bank is a component of the World Bank Group. The World Bank's official stated objective is poverty reduction. Its decisions must be guided by a commitment to promoting foreign investment and international trade and facilitating capital investment. The World Bank has expanded from a single institution created in 1944 to a group of five unique and cooperative institutional organizations. The first organization is the International Bank for Reconstruction and Development (IBRD), an institution that provides debt financing to governments considered middle-income. The second organization within the World Bank is the International Development Association (IDA), a group that provides interest-free loans to governments of poor countries. The International Finance Corporation (IFC), the third organization, focuses on the private sector and provides country development services with investment financing and financial advisory services. The fourth part of the World Bank is the Multilateral Investment Guarantee Agency (MIGA), an organization that promotes foreign direct investment in developing countries. The fifth and final organization is the International Center for Settlement of Investment Disputes (ICSID), an entity that provides arbitration of international investment disputes. The World Bank is made up of 189 member countries. Japan joined the World Bank in August 1952, the year after the San Francisco Peace Treaty was signed. Starting in 1953, numerous World Bank loan projects were implemented in Japan to develop the nation's economic foundations, such as electric power generation, basic industry development, transportation, water, and infrastructure. Japan hosted the Annual Meetings of the World Banking Group and International Monetary Fund for the first time in 1964, a symbolic year that clearly showed Japan's post-war reconstruction and return to the international community. In 1966, Japan signed the final World Bank loan and decreased its borrower status the following year. Japan strengthened its creditor status in the 1970s and became the World Bank's second largest shareholder in 1984, gaining greater say. as one of the most important partners. The World Bank began informal discussions with Japan about membership in early 1950. Japan was still occupied, a peace treaty between Japan and the Allied Powers was in preparation, and the Japanese economy was being reconstructed. Inflation had finally been tamed with the implementation of strong inflation policiesstabilization, reconstruction programs were underway, and exports and imports had increased. Japan was gaining confidence in its ability to effectively manage its economy, thus feeling ready to regain full sovereignty, and was preparing to reintegrate internationally through membership in international organizations, such as the IMF and the World Bank. In August 1951, a formal request letter signed by Prime Minister Shigeru Yoshida was forwarded to the IMF.2,3 With the peace treaty, Japan regained sovereignty on April 28, 1952, and accession agreements with the IMF and the Bank were signed in August 1952. (Abe, Y., & Katsu, S. 2016) 2011 marks the 40th anniversary of the first public bond issuance by the International Bank for Reconstruction and Development (World Bank) in Japan. That issue, an eleven billion Japanese yen bond launched in June 1971, represented an important step in the evolution of the World Bank's relationship with Japan. Japan became a member of the World Bank in 1952, and in the 1950s and 1960s, as Japan relied on capital inflows to rebuild from the devastation of World War II, the World Bank provided the country with more than $850 million in loans. In all, the World Bank made more than thirty loans to Japan during that period, financing major economic development projects throughout the country (Arima, Yoshiyuki; Bennett, Michael S.; Dore, Andrea. 2012.) Among member countries of the World Bank Group, Japan occupies an exceptional position. Over the course of the first twenty years of the Banking Group's history, Japan has emerged, at a dramatic pace, from the status of a war-damaged, still relatively underdeveloped economy to that of a modern, sophisticated economy holding or approaches world leadership in some aspects of industrial technology. and manufacturing, and rapidly expanding into the role of a major provider of aid to least developed countries. In this context, Japan's current position as a leader in the group of approximately eighteen Bank member countries that provide the bulk of the financial and technical assistance flowing to the less developed world and on whose cooperation the World Bank must draw in pursuing the its tasks as an international development agency. Japan's recent position as a substantial user of development assistance has been channeled through the World Bank into key sectors of the Japanese economy. Japan's growth has given it a special role to play on the contributory side of international development and development finance. (World Bank. 1967) The World Bank stated that advanced economies were showing signs of improvement, especially Japan and Europe, while the seven largest emerging markets – China, Brazil, Mexico, India, Indonesia, Turkey and Russia – were again contributing to global push. growth. The bank raised its growth forecast for Japan for 2017 by 0.6 percentage points from January to 1.5% (Lawder, David.2017). The World Bank expects the global economy to grow 3.1% this year, the best performance in seven years. Growth of 2.1% is expected in the Eurozone and 1.3% in Japan. (Crutsingr, Martin.2018) International trade contributes significantly to the Japanese economy, with exports equivalent to approximately 18% of GDP in 2015. Major merchandise exports include vehicles, machinery, and manufactured goods. In 2016, Japan's top export destinations were the United States (20.2%), China (17.7%), and the Republic of Korea (7.2%). Japan has few resources.