This can largely be attributed to a number of factors, such as economic development and industrialisation. In order for a nation to reach its full economic potential, it must have both of these elements in place. To achieve this, countries must make investments and devise strategies in order to reach their desired level of development. The role of the World Bank is also important in this process, as the organisation provides financial assistance and advice to developing nations so that they can succeed economically. Ultimately, it is up to individual citizens of that country to invest in their own development and create a successful economy. However, having access to resources such as those provided by the World Bank can aid in this process significantly.

The concept of development has its roots in colonisation by western European powers.

These nations sought to dominate economically, politically and culturally, in ways that allowed them to control countries and their resources. This domination has had long-term effects on the growth of nations, particularly those in the global south, where economic progress was stunted due to colonial control.

The oppressive policies of the rulers were driven by an overarching desire for power, which has led to a perpetuation of inequality between nations and regions.

Post World War 2, in the 1950s, the decolonisation process led to a wave of newly independent countries taking control of their destinies. This had a major impact on the development of these countries, and many chose to adopt central planning policies in order to build their economies. Central planning was often implemented via the United Nations Development Program (UNDP) or other local initiatives.

These efforts helped create sustained economic growth for many of these countries during this period, leading to improved living standards for their citizens.

With different nations across the globe each pursuing different paths towards development, Bretton Woods provided an important opportunity for these nations to come together and share experiences in order to further facilitate their respective development processes.

Bretton Woods is an important institution in the history of economic development. Established in 1944.

It was an agreement between 44 nations that aimed to create a stable financial system by pegging global currencies to the U.S dollar and establishing rules for currency exchange. The Bretton Woods system proved instrumental in helping to rebuild Europe’s economy following World War II, as well as stimulating international trade and investment. It provided stability by setting fixed rates for currencies, making exchange rates more predictable and encouraging countries to hold each other's assets in reserve. The system also established the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD), which are still active today. The Bretton Woods system played a major role in helping to shape the global economy, influencing policymaking and providing a foundation from which numerous nations have been able to achieve economic success.

The United Nations Development Program (UNDP) has been instrumental in shaping the global landscape of contemporary development.

Established in 1965, the UNDP has provided a forum for nations to come together and share resources for cooperative global development projects. The UNDP works on a variety of initiatives ranging from poverty alleviation to environmental protection, mobilizing over 150 countries to collaborate on sustainable development solutions. With its presence in 177 countries across the globe, the UNDP is one of the most effective international organizations in promoting social equity and economic stability. Through its long-term commitment to helping countries achieve their developmental goals, the UNDP has become an important part of global society, providing assistance to millions and serving as a role model for responsible global citizenship.

The Brundtland Commission of 1987 was a landmark event in the history of sustainable development. This commission, led by Norwegian Prime Minister Gro Harlem Brundtland, was tasked with crafting a definition of sustainable development for our common future. Their report, Our Common Future, provided the world's first comprehensive definition of sustainable development and laid the groundwork for many advances in sustainability policy and initiatives. As such, it is widely seen as one of the most important documents to come out of the international environmental movement. With its focus on protecting our planet while simultaneously promoting economic growth, the report continues to influence global policy today. Therefore, it is easy to see why the work done by this commission has been so crucial in moving forward towards a more equitable and sustainable world.

The Brundtland Commission's definition of sustainable development is an important step in understanding environmental sustainability. At its heart, the definition calls for meeting the needs of the present without compromising the ability of future generations to meet their own needs. In other words, we need to find ways to use natural resources responsibly and efficiently, so that everyone on this planet can enjoy a quality of life that is equal to or better than what we have today. The Commission also highlighted social and economic issues as components of a truly sustainable development.

They emphasized equity between nations, access to resources and technology, and decreasing poverty levels, all in an effort to make our world more livable for generations to come. To put it simply, sustainable development means using resources wisely so that all people have access to a healthy environment and good living standards into the future.

The United Nations Development Report in the 1990s had a tremendous impact on global development.

The report was a response to the ecological crisis that had been brought on by years of human activity, and its publication at the Rio Summit in 1992 marked a turning point in global cooperation. It introduced a new approach to international development, emphasising sustainability, human rights and equality, and opened doors for dialogue between nations.

By bringing attention to previously neglected issues such as health care access, education and gender equality, the UNDR helped to shape poverty reduction strategies around the world. Its focus on environmental protection also contributed significantly to global efforts to protect natural resources from degradation and pollution. Overall, the UNDR has had an impressive influence on development discourse since it was first published more than two decades ago.

Some of the international development institutes are as below;

The United Nations (UN) is the foremost international organization for the establishment of global peace and security. Their mission is to foster cooperation among nations and promote economic and social progress around the world.

The United Nations Development Programme (UNDP), World Health Organisation (WHO), World Food Programme (WFP), World Bank, U.S. Agency for International Development (USAID), and the Organisation for Economic Co-operation and Development (OECD), Japan's International Cooperation Agency (JICA) all play an integral role in the world’s development efforts.

These organisations work to reduce poverty, improve healthcare systems, provide food assistance, finance sustainable development projects and support research on a variety of topics related to human progress. Through these efforts, they seek to create a more equitable and prosperous global society where everyone has access to basic needs such as health care, education and economic opportunities. They also promote better rules and regulations that foster good governance and protect human rights across the globe. Collectively, these organizations have had a profound impact on international development over the years and continue to lead the way in finding innovative solutions to the world’s most pressing challenges.