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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 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.
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 ...
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]
IBRD International Bank for Reconstruction and Development: World Bank Group, Specialised agency of the UN: Washington, D.C. 1956: IFC International Finance Corporation: World Bank Group: Washington, D.C. 1960: IDA International Development Association: World Bank Group: Washington, D.C. 1966: ICSID, International Centre for Settlement of ...
The World Bank has regularly failed to live up to its own policies for protecting people harmed by projects it finances. The World Bank and its private-sector lending arm, the International Finance Corp., have financed governments and companies accused of human rights violations such as rape, murder and torture.
A continent is a large geographical region defined by the continental shelves and the cultures on the continent. [1] In the modern day, there are seven continents. However, there have been more continents throughout history. Vaalbara was the first supercontinent. [2] Europe is the newest continent. [3]
The two observer states at the UN, the Vatican City and State of Palestine, are also not members of the World Bank. Kosovo is not a member of the UN, but is a member of the International Monetary Fund [1] and the World Bank Group, [2] both specialized agencies in the United Nations System.