Bank stuff

This is a mixed-topic post, as a few interesting things have been happening, and which probably deserve to be written down, mostly work-related. I love this job. As with anything, it can be hard to remember the importance and, well, for lack of a better word, 'awesomeness' of what you do when you start focusing on the details and lose sight of the big picture. Between drafting loan terms, reviewing legal documents and calculating cash flows, I think I can forget that I am helping to give poor people in villages in Bangladesh cell phones so that they can make better lives for themselves. One of my colleagues woke me up to this yesterday when he spoke of his career at the IFC, and of how this job gave you the opportunity to do a lot more than you would anywhere else; it's part financial analyst, but also part negotiator, diplomat, lawyer, economist, and maybe even aid worker (if you're an idealist like me).

This is becoming increasingly evident as I approach a big event - I am never sure how much I can say, because so much of the information I deal with is confidential - but I am sure I can tell you that I am getting ready for a board meeting with the executive directors of the World Bank and President Wolfowitz. I am looking forward to meeting him, although unfortunately I doubt he will be available for photo opportunities. It is reputed (by Bank veterans older and wiser than I) that the Board meeting resembles a committee meeting of the UN, with representatives not only at the Bank level, but from international institutions and governments related to the project. A little intimidating, to be honest.

On Monday, I attended training on "Policy and Performance Standards", which is bureaucratese for PR. As everyone knows, the Bank is constantly in the public eye, with some NGOs specifically set up to keep tabs on us and raise an uproar when we make a mistake. Hell, there are Ethiopians protesting at the entrance of my building today, trying to pressure us and the US government into taking stronger economic action against the warlord factions in their home country. When you are trying to finance deals in complex political, environmental and social situations, and you know that the investment you are making is ultimately going to help people and improve lives, sometimes this stuff about having to determine the cultural value of a historic monument that could potentially be damaged by pollutants produced by a new factory seems a bit ridiculous and convoluted. But the public are so critical of this institution that we have little choice but to perform analysis in that regard that does, in fact, sometimes verge on the ridiculous. And that stops us from finalizing financing for projects that will help to develop third world countries.