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The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and best-known development bank in the world and an observer at the United Nations Development Group. [7] The bank is headquartered in Washington, D.C., in the United States.
The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA), two of five international organizations owned by the World Bank Group. It was established along with the International Monetary Fund at the 1944 Bretton Woods Conference. After a slow start ...
David Robert Malpass (born March 8, 1956 [1]) is an American economic analyst and former government official who served as President of the World Bank Group from 2019 to 2023.
The president of the World Bank Group is the head of World Bank Group. The president is responsible for chairing the meetings of the boards of directors and for overall management of the World Bank Group. The nominee is subject to confirmation by the Board of Executive Directors, to serve for a five-year, renewable term.
The World Bank Group is the globe's most prestigious development lender, bankrolling hundreds of government projects each year in pursuit of its high-minded mission: to combat the scourge of poverty by backing new transit systems, power plants, dams and other projects it believes will help boost the fortunes of poor people.
Ajaypal Singh "Ajay" Banga (born November 10, 1959 [1]) is an Indian-born American business executive. [2] He is currently the president of the World Bank Group. [3] He was the executive chairman of Mastercard, after having previously served as president and chief executive officer (CEO) of the company from July 2010 until December 31, 2020.
1st President of the World Bank Group; In office June 18, 1946 – December 18, 1946: Preceded by: Position established: Succeeded by: John J. McCloy: 5th Chairman of the Federal Reserve; In office September 16, 1930 – May 10, 1933: President: Herbert Hoover Franklin D. Roosevelt: Preceded by: Roy A. Young: Succeeded by: Eugene Robert Black
Woods was first called to the World Bank by Eugene Black, the World Bank's president from 1949 to 1962, who was an old associate and friend from Harris, Forbes. [1] While at the World Bank, Black had asked him to help out on special assignments for the bank. [1] [3] [4] Woods had thereby become familiar with the workings of the World Bank. [1]