Robert Zoellick, the new World Bank president [AFP]

The scandal involving Paul Wolfowitz has raised many questions about the relevance of the World Bank.

Set up just before World War II, the bank along with the IMF, was meant to stabilise the world economy after the war. But some critics say that today it is becoming more and more irrelevant.

So how important is the World Bank?

Has it really succeeded in helping countries in need of money?

Is it simply a political tool in the hands of the big powers, the US in particular?

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This episode of Inside Story aired on 31 May 2007

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