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The World Bank is an international financial institution that provides loans and grants ... The World Bank plays a significant role in global economic governance ...
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 ...
Managing Director of the World Bank; Assistant Administrator of the U.S. Agency for International Development (USAID) First interim World Bank Group president born outside United States First World Bank Group president born in Europe First World Bank Group president from Germany: 9 James Wolfensohn: June 1, 1995 – May 31, 2005 United States [a]
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.
There are five "closely associated institutions" that each have a "distinct role" [4] and together form the World Bank—the IBRD, the International Development Association (IDA), the International Finance Corporation (IFC), that "invests in private firms and promotes entrepreneurship", [5] the Multilateral Investment Guarantee Agency (MIGA), that guarantees loans, and the International Centre ...
The IDA is a unique part of the World Bank as it requires continuous replenishment of its resources. Member countries replenish its funds through contributions in addition to supplementary funds provided by the International Bank for Reconstruction and Development and the International Finance Corporation (IFC).
The World Bank has admitted “shortcomings” in its protections for people displaced by projects the bank supports. It says it is working to improve its policies and how it enforces them. The bank also says protecting people in the way of big projects is a “cornerstone” of its efforts to “end extreme poverty and promote shared ...
The development of the World Bank, the IMF, regional development banks such as the European Bank for Reconstruction and Development (EBRD), and multilateral trade institutions such as the WTO signals a move away from the dominance of the state as the primary actor analysed in international affairs.