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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 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 ...
The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and best-known development bank in the world and an observer at the United Nations Development Group. [7] The bank is headquartered in Washington, D.C., in the United States.
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.
Mount Washington Hotel. The Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates from all 44 allied nations at the Mount Washington Hotel, in Bretton Woods, New Hampshire, United States, to regulate what would be the international monetary and financial order after the conclusion of World War II.
The nation frequently works with the World Bank on a range of initiatives and projects, offering technical support, exchanging knowledge, and helping to plan and implement development programs. [2] [4] One example of France's partnership efforts is involvement in strengthening West African coastal areas' to the impacts of climate change.
The executive directors collectively represent all 187 member states of the World Bank, although decisions regarding IDA matters concern only the IDA's 172 member states. The president oversees the IDA's overall direction and daily operations. [16] As of May 2024, Ajay Banga serves as the President of the World Bank Group. [17]
Czechoslovakia – National Bank of Czechoslovakia (1926–1939 and 1945–1950) and State Bank of Czechoslovakia (1950–1992) Free City of Frankfurt – Frankfurter Bank (1854–1875) Republic of Genoa – Bank of Saint George (1407–1805) [2] German Democratic Republic – Deutsche Notenbank (1948–1968) and Staatsbank der DDR (1968–1990)