The World Bank's Ups and Downs Throughout the Conference

The World Bank has officially gone broke in the course of 2 days. From Antony Blinken to a party yacht, committee members are desperate for reform and change.

While discussing the inevitable rise of AI, the committee attempted to replace the Secretary of State, Antony Blinken, with ChatGPT to blame unemployment due to AI on the US government official. The World Bank targeted Blinken because of suspicions of corruption in his role. The evidence of his corruption was proved when Blinken openly assassinated the President of the World Bank after the president used thousands of dollars to purchase Panda Express. Although the case was brought to SCOTUS (Supreme Court of the United States), the court found the Secretary of State to be innocent.

Through this chaos, SCOTUS also indicted the World Bank and forced the committee to pay 6 billion dollars to the United States. After losing their cases, the World Bank bought a party yacht for personal use, utilizing 911 million dollars.

After the losses of their fund, the World Bank was in shambles, grasping at straws for reform in their committee. Members of the committee rushed to legislate bills to reconstruct the committee’s reputation and its funding. With the purchase of the party yacht (911 million) and the indictment of the World Bank (6 billion), the committee was left broke, with no funding for imminent issues around the world.

Earlier this morning, the Change the World Bank Act passed with 8 members voting in favor of this resolution. The authors (representatives from Saudi Arabia, Turkey, and the Dominican Republic) aimed to structure the World Bank so investors, specifically billionaires, could invest in the committee. In an interview with a delegate from Saudi Arabia, he stated, “We turned to billionaires who want to help their public image and who also want a return on their investment.” The act was presented as a long-term solution as the bill promised investors their money would be returned in 5 - 20 years.

Although the bill was the first to be introduced, the resolution faced fierce opposition from other members, arguing that the reputation of the World Bank would hurt their chances of investments being made. Switzerland mentioned that there was no incentive for billionaires to invest in the committee, as they would be scared away by the World Bank's reputation. When asked, she stated, “We actually don’t have a return on that investment.” Instead, she supported the We Need Money/ Charitable Reform Act, which was proposed by Brazil.

The bill would ask philanthropists for 2 billion dollars from the World Bank, and in return, the committee would operate as a charitable organization on their behalf. In doing so, the World Bank would be funded for climate change and other issues while boosting the committee’s public image and the billionaires'. The delegate from Switzerland shared her opinion on this resolution, stating, “I think it’s a quick cash grab, [...] and it’s something we have to do, unfortunately, because of the route we’ve been put in.” Unfortunately, this act eventually failed, with 11 members of the committee voting against it. The World Bank is currently in a dire situation with no funds; all eyes will be on them in their next moves.

This article was written by Rosalyn Zhou and Milla Bardony.