Model Answer

Multilateral Development Banks (MDBs) play a significant role in addressing contemporary global economic issues, particularly in driving development, managing climate risks, ensuring debt sustainability, and stabilizing global economies.

1. Driving Developmental Investments

MDBs like the World Bank, Asian Development Bank, and others fund projects that foster economic growth, create jobs, and reduce poverty. For example, the World Bank’s International Development Association (IDA) offers concessional loans to low-income countries, targeting poverty reduction, education, and healthcare improvements. These investments uplift marginalized communities and enhance access to essential services.

2. Mitigating Climate Risks

Climate change presents a major global economic threat, and MDBs are at the forefront of supporting climate resilience. The African Development Bank’s “Green Growth Strategy” is one such initiative aimed at assisting African countries transition to low-carbon, climate-resilient economies. MDBs finance renewable energy projects, climate-smart agriculture, and disaster risk reduction measures to combat the economic impact of climate change.

3. Ensuring Debt Sustainability

MDBs help countries manage their debt and build economic resilience by offering technical assistance, training, and concessional financing. The Asian Development Bank plays a crucial role in providing grants and loans to Asia’s poorest countries, enabling them to develop sustainable debt management strategies and foster long-term economic stability.

4. Global Economic Stabilization

During times of financial crises, MDBs act as a safety net. During the 2008 Global Financial Crisis, MDBs provided $222 billion to stabilize global economies. This support highlights their critical role in ensuring economic stability and mitigating financial shocks.

Challenges and Future Enhancements

Despite their contributions, MDBs face criticism regarding their focus on capital flows over tangible results. To improve their effectiveness, MDBs need closer collaboration with the private sector and alignment with the International Monetary Fund to ensure that their strategies support the global Sustainable Development Goals (SDGs).

Model Answer

The International Court of Justice (ICJ) is the principal judicial body of the United Nations (UN), established in 1945 under the UN Charter. It consists of fifteen independent judges, who are elected for nine-year terms by the UN General Assembly and the Security Council. One-third of the judges are replaced every three years to ensure continuity in its functioning.

Mandate of the ICJ

The ICJ’s primary function is to settle legal disputes between states based on international law. It also provides advisory opinions on legal questions referred by UN organs or specialized agencies. The Court plays a crucial role in the peaceful resolution of international disputes.

Challenges Faced by the ICJ

1. Political Influence on Judgments

Judges, despite being independent, sometimes vote in ways that reflect national interests. A notable example is in 2022, when judges from Russia and China were the only ones to vote against a ruling directing Russia to stop its military actions in Ukraine, showing how political affiliations can influence judicial decisions.

2. Lack of Enforcement Power

Though the ICJ’s rulings are legally binding, they depend on voluntary compliance by states. For example, any adverse ruling against Israel is often blocked by a US veto in the Security Council. This lack of enforcement power hinders the Court’s effectiveness.

3. Selective State Participation

Some powerful states choose not to participate in ICJ cases, undermining its authority. For instance, the US refused to accept the Court’s jurisdiction in the 1986 Nicaragua case, demonstrating a selective approach to international law.

4. Procedural Delays

ICJ’s proceedings can be slow. A prominent example is the 2019 case filed by Gambia against Myanmar for the genocide of Rohingya Muslims, which remains ongoing after years of litigation.

5. Limited Jurisdiction

The ICJ can only adjudicate cases if states consent to its jurisdiction, which limits its reach. For instance, the US has excluded itself from disputes involving military actions.

Conclusion

To enhance the ICJ’s effectiveness, reforms are needed, including greater political neutrality, enforcement mechanisms, and jurisdictional expansion.