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May 21, 2008

Staff Picks: The World Bank and the Gods of Lending

By: 800-CEO-READ @ 3:19 PM – Filed under: Management & Workplace Culture

Ever wonder about what has been going on behind the closed doors of one of the most powerful and omnipresent financial institutions? Steve Berkman, a 16-year veteran of World Bank, answers that question and more in his new book. He uncovers mismanagement and hypocrisies that have gone on for decades behind the scenes of the banks' loan programs.
Berkman joined the bank in 1983 and has worked in 'all the major economic sectors throughout the region'. After he retired in 1995 he was brought back from 1998 to 2002 to assist in setting up an Anti-Corruption and Fraud Investigation Unit which lead to several findings of corruption cases in Latin America and Africa. The World Bank and the Gods of Lending delves into such corruptions like the bloated bureaucracy and misguided leadership that penetrates what should be a wholesome, nurturing and honest business. Due this June, Berkman's personal accounts of the bank's failures (bank projects in Nigeria for example) will make for one heck of a summer read!
"A passionate, informed, and devastating first-hand account from the front lines of World Bank operations. Students, development professionals, and especially policy makers in Washington should read this book." - Jeffrey A. Winters (Professor of political economy, Northwestern University and co-editor of Reinventing the World Bank)
"Recommended reading as a hard-hitting lesson on how not to run the Bank." - Paul Arlman (Former Executive Director of the World Bank (1986-1990) and member of the Dutch Treasury