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The IBRD was established with the original mission of financing the reconstruction efforts of war-torn European nations following World War II, [5] with goals shared by the later Marshall Plan. The Bank issued its inaugural loan of $250 million ($2.6 billion in 2 dollars [ 13 ] ) to France in 1947 to finance infrastructure projects.
For the last 30 years, it has included NGOs and environmental groups in its loan portfolio. Its loan strategy is influenced by environmental and social safeguards. As of 2022, 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 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 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. [ 17 ] Each member country appoints a governor, generally its minister of finance.
An international financial institution (IFI) is a financial institution that has been established (or chartered) by more than one country, and hence is subject to international law. Its owners or shareholders are generally national governments, although other international institutions and other organizations occasionally figure as shareholders.
By the end of January 1960, fifteen countries signed the articles of agreement which established the International Development Association. The association launched in September of that same year with an initial budget of $913 million ($7.1 billion in 2012 dollars [13]).
More precisely, its own package was established within the scope of the Resilience Framework, the Trade Facilitation Programme and the Vital Infrastructure Support Programme etc. [18] In 2020 alone, it has invested €11 billion as part of 411 projects which corresponds to a 10% raison compared to 2019. 72% of its investments were received by ...