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The World Bank was created at the 1944 Bretton Woods Conference, along with the International Monetary Fund (IMF). The president of the World Bank is traditionally an American. [12] The World Bank and the IMF are both based in Washington, D.C., and work closely with each other.
The Global Finance Facility was launched at the Financing for Development Conference in Addis Ababa in July 2015 by the United Nations and the World Bank as part of an effort to achieve goal three of the Sustainable Development Goals, Good health and well-being for people, and in particular to help governments in low- and lower-middle income countries transform how they prioritize and finance ...
The World Bank Institute is the capacity development branch of the World Bank, providing learning and other capacity-building programs to member countries. The IBRD has 189 member governments, and the other institutions have between 153 and 184. [2] The institutions of the World Bank Group are all run by a board of governors meeting once a year ...
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.
Development Bank of Latin America and the Caribbean (CAF) Eurasian Development Bank; European Bank for Reconstruction and Development (EBRD) European Investment Bank; Food and Agriculture Organization of the United Nations (FAO) Inter-American Development Bank (IADB) International Bank for Reconstruction and Development (IBRD; part of the World ...
Afghanistan is a World Bank Group member country. It has received financial support from the organization since 2002. The World Bank provides loans and grants to support its development and reconstruction efforts. The bank aims to help Afghanistan with matters such as poverty reduction, infrastructure development, education, and governance.
In northern Peru, the World Bank's business-lending arm is part owner of the Yanacocha gold mine, accused by impoverished farming communities of despoiling their land in pursuit of the precious ore. The bank and IFC have stepped up investments in projects deemed to have a high risk of serious and environment damage, including oil pipelines, mines and even coal-fired power plants, an ...
In an internal survey conducted last year by bank auditors, 77 percent of employees responsible for enforcing the institution’s safeguards said they think that management “does not value” their work. The bank released the survey in March, at the same time that it admitted to poor oversight of its resettlement policy.