World Bank
These changes were made by Robert McNamara who became the president in 1968. McNamara managed the Bank in the same way he had worked when he was United States Secretary of Defense and President of the Ford Motor Company. McNamara changed the focus toward things such as building schools and hospitals, improving literacy and farming. McNamara started a new system of gathering information from nations applying for loans. This helped the bank to process loan applications much faster. To give out more loans, McNamara told bank treasurer Eugene Rotberg to find new sources of money, because the northern banks that had lent out the money did not have enough. Rotberg used the bond market to increase the amount of money that the bank could lend. One result of lending so much to help poor countries was that the countries in the Third World started owing a lot more money. From 1976 to 1980 developing world debt rose at an average of 20% a year.