Nhungexim: Added Basic Data W/ Infobox - done

2024-10-21T23:56:05Z

Added Basic Data W/ Infobox - done

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{{Short description|Extension of the World Bank headquartered in Washington, DC.}}
{{coord |12|59|2|N|80|14|41|E|type:landmark_region:IN-TN|display=title}}

{{Infobox government agency
|agency_name = World Bank Back Office, Chennai
|nativename = World Bank, Chennai
|logo = World Bank logo.svg
|logo_width=80px
|picture = World Bank Office in Taramani, Chennai.jpg
|picture_width = 220px
|picture_caption = World Bank Office in Chennai
|formed = August 2001 (operations began)<br />15 March 2002(official launch)
|preceding1 =
|preceding2 =
|dissolved =
|superseding =
|jurisdiction =
|headquarters = [[Washington, DC]]

|employees = 1200 (2021)
|budget =
|chief1_name =
|chief1_position =
|parent_agency = [[World Bank]]
|child1_agency =
|slogan =
|website = [http://www.worldbank.org/ World Bank]
|footnotes =
}}

The '''World Bank Chennai''' is the extension of the [[World Bank]] headquartered in [[Washington, DC]].<ref name="Hindu_ChennaiChosenForWB"/> The World Bank Chennai office offers corporate financial, accounting, administrative and IT services for the bank's offices in around 150 countries.<ref name="Hindu_ChennaiChosenForWB">{{cite news
| last = Padmanabhan
| first = Mukund
| title = Chennai chosen for World Bank back office
| location = Chennai
| date = 6 March 2002
| url = http://www.hindu.com/2002/03/06/stories/2002030603070100.htm
| archive-url = https://web.archive.org/web/20130722162527/http://www.hindu.com/2002/03/06/stories/2002030603070100.htm
| url-status = dead
| archive-date = 22 July 2013
| newspaper = [[The Hindu]]
| access-date = 21 Oct 2012}}</ref><ref name="ChiefVisitsChennai">{{cite news
| title = World Bank chief visits Chennai office
| newspaper = ZeeNews India.com
| location = Chennai
| publisher = ZeeNews.com
| date = 29 March 2012
| url = http://zeenews.india.com/business/news/economy/world-bank-chief-visits-chennai-office_44889.html
| access-date = 9 Oct 2012}}</ref> The Chennai office handles several value-added operations of the bank that were earlier handled only in its Washington, D.C., office.

==History==
The Chennai office started its business operation as a primary processing work, including payroll processing, in August 2001 with 80 staff.<ref name="PermanentOfficeInChennai">{{cite news
| last = Radhakrishnan
| first = R. K.
| title = World Bank decides to locate back office in Chennai
| location = Chennai
| date = 26 May 2009
| url = http://www.hindu.com/2009/05/26/stories/2009052660290800.htm
| archive-url = https://web.archive.org/web/20090530190136/http://www.hindu.com/2009/05/26/stories/2009052660290800.htm
| url-status = dead
| archive-date = 30 May 2009
| newspaper = [[The Hindu]]
| access-date = 10 Oct 2012}}</ref> On 15 March 2002, then [[chief minister of Tamil Nadu]], [[J. Jayalalithaa]], inaugurated a new 26,000 sq ft office in [[Raheja Towers, Chennai|Raheja Towers]] in [[Anna Salai]], where the bank started functioning in a full-fledged manner to process all of the bank's accounting functions and its global payrolls, with about 90 personnel.<ref name="DomainB_WBOpensOffice">{{cite news
| title = World Bank opens office in Chennai news
| newspaper = Domain-b.com
| location = Chennai
| date = 16 March 2002
| url = http://www.domain-b.com/finance/banks/world_bank/20020316_office.html
| access-date = 10 Oct 2012}}</ref> The same year, the staff strength increased to about 180.<ref name="BusinessLine_WBOwnOfficeSpace">{{cite news
| title = World Bank to build own office space in Chennai
| newspaper = Business Line
| location = Chennai
| publisher = The Hindu
| date = 18 November 2003
| url = http://www.thehindubusinessline.in/2003/11/18/stories/2003111801351700.htm
| access-date = 31 Jul 2012}}</ref> In 2003, the bank decided to move the analytical work in bond valuation to the Chennai office, whereby the bank moved the work outside its headquarters in Washington, DC for the first time in its history. The size of the bank's commercial bonds portfolio is estimated at US$100 billion.<ref>{{cite news
| title = World Bank may ramp up Chennai BPO operations
| newspaper = Business Standard
| location = Chennai
| date = 17 November 2003
| url = http://www.business-standard.com/india/news/world-bank-may-rampchennai-bpo-operations/161012/
| access-date = 10 Oct 2012}}</ref> On 22 September 2006, the bank moved to a leased premises in [[Taramani]], which was inaugurated by the then chief minister of Tamil Nadu, [[M. Karunanidhi]]. In 2009, the bank decided to purchase the land it took on lease, in order to set up a permanent back office in Chennai. By 2012, the staff strength grew to 500.<ref name="BusinessLine_WBChiefInChennai">{{cite news
| title = World Bank chief in Chennai
| newspaper = Business Line
| location = Chennai
| publisher = The Hindu
| date = 29 March 2012
| url = http://www.thehindubusinessline.com/industry-and-economy/article3258901.ece
| access-date = 9 Oct 2012}}</ref><ref name="ChiefVisitsChennai"/> On 13 December 2021, the bank celebrated the 20th year of its presence in Chennai.<ref name="20YearsInChennai">{{cite news
| title = The World Bank Group Celebrates 20 Years of Presence and Partnership in Chennai
| publisher = The World Bank
| date = 13 December 2021
| url = https://www.worldbank.org/en/news/press-release/2021/12/13/the-world-bank-group-celebrates-20-years-of-presence-and-partnership-in-chennai
| access-date = 1 February 2023}}</ref>

The staff strength of the Chennai office grew as follows:
{| class="wikitable sortable" style="font-size: 90%"
|-
! Year
! No. of staff
|-
| 2001 || 80<ref name="PermanentOfficeInChennai"/>
|-
| 2002 || 90<ref name="DomainB_WBOpensOffice"/>
|-
| 2003 || 180<ref name="BusinessLine_WBOwnOfficeSpace"/>
|-
| 2006 || 240<ref>{{cite news
| last = PTI
| title = World Bank's office opens in Chennai
| newspaper = The Economic Times
| location = Chennai
| publisher = The Times Group
| date = 22 September 2006
| url = http://articles.economictimes.indiatimes.com/2006-09-22/news/27456107_1_world-bank-office-space-bank-vice-president
| archive-url = https://web.archive.org/web/20150223190600/http://articles.economictimes.indiatimes.com/2006-09-22/news/27456107_1_world-bank-office-space-bank-vice-president
| url-status = dead
| archive-date = February 23, 2015
| access-date = 10 Oct 2012}}</ref>
|-
| 2012 || 500<ref name="BusinessLine_WBChiefInChennai"/>
|-
| 2021 || 1200<ref name="20YearsInChennai"/>
|}

==Operations==
The World Bank Chennai office building is located in [[Taramani]] on a 3.5-acre campus off the [[Rajiv Gandhi Salai|IT corridor]] and has 120,000 sq feet built-up area with a capacity to house about 450 staff members.<ref name="PermanentOfficeInChennai"/> The building is certified as a [[LEED Silver]] building.<ref>{{cite web
| title = World Bank Earns LEED Gold for Two Office Buildings
| publisher = Greening the Blue.org
| date = 15 July 2011
| url = http://www.greeningtheblue.org/news/world-bank-earns-leed-gold-two-office-buildings
| access-date = 10 Oct 2012}}</ref> The Taramani office, measuring 128,000 sq ft area, is the largest bank-owned building outside its headquarters in Washington, DC.<ref>{{cite web
| title = World Bank Group President thanks Chennai staff for delivering results on the ground
| work = World Bank—News & Views
| publisher = The World Bank
| date = 29 March 2012
| url = http://www.worldbank.org/en/news/2012/03/29/world-bank-group-president-thanks-chennai-staff-for-delivering-results-on-the-ground
| access-date = 9 Oct 2012}}</ref><ref>{{cite news
| title = World Bank chief makes maiden visit to Chennai
| newspaper = Business Standard
| location = Chennai
| date = 31 March 2012
| url = http://www.business-standard.com/india/news/world-bank-chief-makes-maiden-visit-to-chennai/469599/
| access-date = 9 Oct 2012}}</ref>

Most of the administrative expense and trust fund transactions for the Bank, which range between US$1 billion and US$2 billion a year, are processed in the Chennai office.<ref name="Hindu_ChennaiChosenForWB"/> When the bank commenced its Chennai operations, it was primarily restricted to processing. An analysis component was added later.<ref name="ExpandChennaiOperations">{{cite news
| last = Radhakrishnan
| first = R. K.
| title = World Bank to expand Chennai operations
| location = Chennai
| date = 16 November 2003
| url = http://www.hindu.com/2003/11/16/stories/2003111606200100.htm
| archive-url = https://web.archive.org/web/20031122165248/http://www.hindu.com/2003/11/16/stories/2003111606200100.htm
| url-status = dead
| archive-date = 22 November 2003
| newspaper = [[The Hindu]]
| access-date = 9 Oct 2012}}</ref>

==See also==
{{Portal|India|Banks}}
* [[Economy of Chennai]]

==References==
{{reflist}}

==External links==
* [http://www.worldbank.org/ Official website]

{{Chennai Topics}}
{{World Bank}}

{{authority control}}

[[Category:Carbon finance]]
[[Category:International economic organizations]]
[[Category:United Nations Development Group]]
[[Category:World Bank]]

World Bank office, Chennai - Revision history

Nhungexim: Added Basic Data W/ Infobox - done