The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects.[5] 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, its first loan was to France in 1947. In the 1970s, it focused on loans to developing world countries, shifting away from that mission in the 1980s. For the last 30 years, it has included NGOs and environmental groups in its loan portfolio. Its loan strategy is influenced by the United Nations' Sustainable Development Goals, as well as environmental and social safeguards.
As of 2022[update], the World Bank is run by a president and 25 executive directors, as well as 29 various vice presidents. IBRD and IDA have 189 and 174 member countries, respectively. The U.S., Japan, China, Germany and the U.K. have the most voting power. The bank aims loans at developing countries to help reduce poverty. The bank is engaged in several global partnerships and initiatives, and takes a role in working toward addressing climate change. The World Bank operates a number of training wings, and it works with the Clean Air Initiative and the UN Development Business. It works within the Open Data Initiative and hosts an Open Knowledge Repository.
The World Bank has been criticized as promoting inflation and harming economic development, causing protests in 1988 and 2000. There has also been criticism of the bank's governance and response to the COVID-19 pandemic. The president David Malpass faced strong criticism as he challenged the scientific consensus on climate change. He was replaced by Ajay Banga, supporting climate action.[6][7]
^"About the World Bank". worldbank.org.
^ abhttps://www.worldbank.org/en/about/leadership/members "Member Countries". Retrieved on 2 January 2022.
^"David Malpass, a US Treasury official and Donald Trump's pick, appointed World Bank president". scroll.in. Retrieved 6 April 2019.
^"World Bank Group Leadership". World Bank. Retrieved 2 August 2018.
^"About Us". World Bank. 14 October 2008. Retrieved 13 June 2019.
^Cite error: The named reference Michelle was invoked but never defined (see the help page).
^Lo, oe (23 February 2023). "US backs Ajay Banga to lead World Bank in climate fight". Climate Home news. Retrieved 7 May 2023.
The WorldBank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the...
The WorldBank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and best-known...
The president of the WorldBank Group is the head of WorldBank Group. The president is responsible for chairing the meetings of the boards of directors...
The West Bank (Arabic: الضفة الغربية, romanized: aḍ-Ḍiffah al-Ġarbiyyah; Hebrew: הַגָּדָה הַמַּעֲרָבִית, romanized: HaGadáh HaMaʽarávit), so called due...
The cooperation between the WorldBank and India goes back to the foundation of the International Bank of Reconstruction and Development (IBRD) in 1944...
The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, is a multilateral development bank established by the BRICS states...
chief economist of the WorldBank (full title: Senior Vice President for Development Economics and Chief Economist of the WorldBank Group) is the senior...
largest countries by GDP according to the WorldBank shows how the membership and rankings of the world's ten largest economies has changed. Historically...
largest bank in the world 2017 and 2018, by total assets, (31 December 2020, US$4.324 trillion), ICBC was positioned at 1st in The Banker's Top 1000 World Banks...
eastern part of the Arab world is known as the Mashriq, and the western part as the Maghreb. According to the WorldBank, the Arab world has a total population...
as the main MDBs: WorldBank European Investment Bank (EIB) Islamic Development Bank (IsDB) Asian Development Bank (ADB) European Bank for Reconstruction...
"GINI index (WorldBank estimate)". WorldBank. Retrieved 30 March 2020. "Gini Index coefficient - distribution of family income - The World Factbook"....
Norges Bank (Bokmål: Norges Bank, Nynorsk: Noregs Bank, lit. 'Bank of Norway') is the central bank of Norway. It is responsible for managing the Government...
standards. The primary source of the most recent data presented is the WorldBank Group's 2021 report. The life expectancy is shown separately for males...
IMF and WorldBank meet each autumn in what is officially known as the Annual Meetings of the International Monetary Fund and the WorldBank Group and...
outdated concept of "us" and "them". In 2015, the WorldBank declared that the "developing/developed world categorization" had become less relevant and that...
being violated by the project. The WorldBank's participation in these projects was canceled in 1993. Before the WorldBank could pull out, the Indian Government...
"Bretton Woods twins", the International Monetary Fund and the WorldBank, and what is now the World Trade Organization. The G20 was foreshadowed at the Cologne...
percentage of GDP, based on data published by Central Intelligence Agency and WorldBank. According to Central Intelligence Agency, budget surplus (+) or deficit (-)...
of WorldBank Group. The IBRD offers loans to middle-income developing countries. It is the first of five member institutions that compose the World Bank...
forbidding the usage of roads by Palestinians. A 2007 WorldBank report concluded that the West Bank "is experiencing severe and expanding restrictions on...
partners around the world, Federal Bank handles more than one fifth of India's total inward remittances, approximately. The bank has remittance arrangements...
The history of banking began with the first prototype banks, that is, the merchants of the world, who gave grain loans to farmers and traders who carried...
(Region) WorldBank's GDP (Nominal) Data for Brazil WorldBank's GDP (Nominal) Data for Italy WorldBank's GDP (Nominal) Data for Russia WorldBank's GDP (Nominal)...
the same set of terms for conducting international postal duties. The WorldBank Group is part of the United Nations System and has a formal relationship...
borrowers of the bank number nearly 9.5 million, and 96.81% of those are women. In 1998 the Bank's "Low-cost Housing Program" won a World Habitat Award....
Global Information
