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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 ...
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 International Bank for Reconstruction and Development (IBRD) is an international financial institution, established in 1944 and headquartered in Washington, D.C., United States; it is the lending arm of World Bank Group. The IBRD offers loans to middle-income developing countries. It is the first of five member institutions that compose the ...
Doing so required extending the conference from its original closing date of July 19, 1944 to July 22. Because the United States was the world's largest economy at the time, and the main prospective source of funds for the IMF and IBRD, the U.S. delegation had the largest influence on the proposals agreed to at Bretton Woods.
The world's oldest central bank is the Sveriges Riksbank, which was founded in 1668. Banco di Napoli , which was absorbed by different entities between 2002–2018, had origins dating back to 1539, and until its absorption was likely the oldest bank worldwide in continuous operation; some scholars posit that its origins may be dated back to 1463.
Between 2004 and 2013, the World Bank committed to lend or give at least $338 billion, according to bank data. Its private-lending affiliate, the International Finance Corporation, committed to invest at least $116 billion during the same period in corporations and other banks in pursuit of the overall goal of alleviating poverty.
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.
Dates Name Citizenship ... The development of the World Bank, ... In 2014, the China-led Asian Infrastructure Investment Bank was established. [185] In the media