Based in Washington, D.C., the World Bank is the world’s largest development bank. It supplies loans to developing countries, focusing its efforts on agriculture, urban development, environmental protection, and governance. It works with countries to develop realistic debt-repayment plans as it strives to end poverty and build shared prosperity. Delegates in this mid-sized committee will question the balance of money and power, working to combat poverty and corruption in our world’s peripheral countries.
This committee is designed for both beginners and experienced delegates alike. Position papers are mandatory and must be submitted by April 17, 2022, at 23:59 PST. More information about position papers will be found on page 3 of each Background Guide.
Debt-trap diplomacy is a practice whereby the creditor country intentionally extends excessive credit to a debtor country, thereby inducing the debtor into a debt trap. This is done to extract economic or political concessions from the debtor country when it becomes unable to meet its debt repayment obligations. The conditions of the loans are often not made public, and the borrowed money commonly pays contractors from the creditor country. Creditor nations often seize major assets such as ports from the debtor country in order to compensate for their debt. In recent years, debt-trap diplomacy has become a contentious topic in international diplomacy, as the practice severely hinders the economic recovery of countries burdened with excessive amounts of debt.
A special economic zone (SEZ) is an area in a country that is subject to different economic regulations than other regions within the same country. SEZs are widely used in most developing and many developed economies. In these geographically delimited areas, governments facilitate industrial activity through fiscal and regulatory incentives and infrastructure support. The SEZ boom is part of a new wave of industrial policies and a response to increasing competition for internationally mobile investment. Most zones offer fiscal incentives; relief from customs duties; business-friendly regulations with respect to land access; permits and licenses or employment rules; and administrative streamlining and facilitation.
Pradyun Chebolu | Director
A Grade 10 student at St. George’s School, Prad has the distinct honour of serving as the Director of the World Bank at VMUN 2022. Since embarking on his Model UN journey in Grade 7, Prad has been fascinated by the enriching debates, friendships and long-lasting memories that Model UN facilitates. Whether trying to stay awake during midnight crises or motioning for universal healthcare as the delegation of the United States of America, Prad frequently finds himself reminiscing on these memorable experiences. Outside of the committee room, Prad can be seen biking around Richmond, working on his cricket skills, reading weird stats about the NBA, or trying to find a good TV show or book to immerse himself in. Prad is eagerly looking forward to a weekend of engaging debate and diplomacy.
Danny Zhu | Chair
Danny is entering his Grade 12 year at St. George’s school and is ecstatic to serve as the Chair of the World Bank. Ever since he started participating in Model UN, he has been entranced by the constant heated debates and the community Model UN nurtures. In his spare time, Danny enjoys participating in a multitude of sports: fencing, badminton, and volleyball, as well as dedicating time to business and finance. Danny looks forward to meeting delegates and ensuring that VMUN 2022 will be an unforgettable experience.
Cathy Zhang | Assistant Director
A Grade 12 student at Magee Secondary, Cathy is ecstatic to be serving as your Assistant Director at this iteration of VMUN! She joined her first conference as a shy and reluctant ninth-grader; though she didn’t speak much, she was mesmerized by the fast-paced debate of the committee room. After four years of participating in Model UN, she’s grown to love the MUN community, the skills you can learn, and all the lovely people you can meet. Outside of MUN, you can find Cathy watching TV shows, hanging out with friends, and looking for cool bubble teas to try. She looks forwards to meeting everyone!
You can contact the Director at email@example.com. Any questions regarding the committee or its debate procedures will be answered by email. Position papers must also be submitted to this address.