Search results
Results from the WOW.Com Content Network
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 World Bank Treasury is the division of the IBRD that manages the Bank's debt portfolio of over $100 billion and financial derivatives transactions of $20 billion. [21] The Bank offers flexible loans with maturities as long as 30 years and custom-tailored repayment scheduling. The IBRD also offers loans in local currencies.
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 ...
During the 20th century, developments in telecommunications and computing caused major changes to banks' operations and let banks dramatically increase in size and geographic spread. The 2007–2008 financial crisis led to many bank failures, including some of the world's largest banks, and provoked much debate about bank regulation.
Globalization encompasses three institutions: global financial markets and transnational companies, national governments linked to each other in economic and military alliances led by the United States, and rising "global governments" such as World Trade Organization (WTO), IMF, and World Bank. [196]
In 1959, the World Bank's Board of Governors approved a U.S.-born resolution calling for the drafting of the articles of agreement. [10] SUNFED later became the Special Fund and merged with the Expanded Programme of Technical Assistance to form the United Nations Development Programme. [citation needed]
Some current and former World Bank officials warn that the proposed revisions will further undermine the bank’s commitment to protecting the people it was created to serve. The latest draft of the new policy, released in July 2014, would give governments more room to sidestep the bank’s standards and make decisions about whether local ...
However European leaders were united in calling for a "Bretton Woods II" summit to redesign the world's financial architecture. [27] G-20 leaders at Summit on Financial Markets and the World Economy. President Bush was agreeable to the calls, and the resulting meeting was the 2008 G-20 Washington summit.