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| {{short description|International financial institution}}{{Use dmy dates}}
| | #REDIRECT [[World Bank Group]] {{R from merge}} |
| {{Infobox organization
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| | name = The World Bank
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| | image = [[File:The World Bank logo.svg|250px]]<br/><br/>[[File:World Bank building at Washington.jpg|250px]]
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| | caption = The World Bank building in [[Washington, D.C.]]
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| | established = {{start date and age|1944|July|7|p=1}}
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| | extinction =
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| | type = [[International financial institution]]
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| | status = Treaty
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| | purpose =
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| | headquarters = 1818 [[H Street (Washington, D.C.)|H Street]], NW<br/>[[Washington, D.C.]], U.S.<ref>{{cite web|url=http://www.worldbank.org/en/about|title=About the World Bank|website=worldbank.org}}</ref>
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| | key_people = {{unbulleted list
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| | [[Ajay Banga]] <br/>([[President of the World Bank Group|President]])<ref>{{cite news |url=https://amp.scroll.in/latest/919116/david-malpass-a-us-treasury-official-and-donald-trumps-pick-appointed-world-bank-president |title=David Malpass, a US Treasury official and Donald Trump's pick, appointed World Bank president |work=scroll.in |access-date=6 April 2019}}</ref>
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| | [[Axel van Trotsenburg]] <br/>([[Managing Director|MD]])
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| | [[Anshula Kant]] <br/>([[Managing Director|MD]] and [[Chief Financial Officer|CFO]])
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| | [[Indermit Gill]]<br/>([[World Bank Chief Economist|Chief Economist]],)<ref>{{cite web |title=World Bank Group Leadership |url=http://www.worldbank.org/en/about/leadership/managers |publisher=World Bank |access-date=2 August 2018}}</ref>}}
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| | parent_organization = [[World Bank Group]]
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| | affiliations =
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| | budget =
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| | membership = 189 countries (IBRD)<ref name="Member Countries">https://www.worldbank.org/en/about/leadership/members "Member Countries". Retrieved on 2 January 2022.</ref><br>174 countries (IDA)<ref name="Member Countries"/>
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| | num_staff =
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| | num_volunteers =
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| | website = {{URL|https://www.worldbank.org/}}
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| }}
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| The '''World Bank''' is an [[international financial institution]] that provides [[loan]]s and [[Grant (money)|grant]]s to the governments of [[Least developed countries|low-]] and [[Developing country|middle-income countries]] for the purpose of pursuing capital projects.<ref>{{cite web |title=About Us |publisher=World Bank |url=http://www.worldbank.org/en/about |access-date=13 June 2019}}</ref> 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.
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| {{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 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.
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| The World Bank has been criticized as promoting inflation and harming economic development, causing protests in [[1988 IMF/World Bank protests|1988]] and [[Washington A16, 2000|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]].<ref name=Michelle/><ref>{{cite web |last1=Lo |first1=oe |title=US backs Ajay Banga to lead World Bank in climate fight |url=https://climatechangenews.com/2023/02/23/us-backs-ajay-banga-to-lead-world-bank-in-climate-fight/ |website=Climate Home news |access-date=7 May 2023}}</ref>
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| ==World Bank Group==
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| The [[World Bank Group]] is an extended family of five international organizations, and the parent organization of the World Bank, the collective name given to the first two listed organizations, the IBRD and the IDA:
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| *[[International Bank for Reconstruction and Development]] (IBRD)
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| *[[International Development Association]] (IDA)
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| *[[International Finance Corporation]] (IFC)
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| *[[Multilateral Investment Guarantee Agency]] (MIGA)
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| *[[International Centre for Settlement of Investment Disputes]] (ICSID)
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| ==History==
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| [[File:WhiteandKeynes.jpg|thumb|right|[[Harry Dexter White]] (left) and [[John Maynard Keynes]], the "founding fathers" of both the World Bank and the [[International Monetary Fund]] (IMF)<ref name="Bretton Woods Founding Fathers 2004">{{cite web |title=The Founding Fathers |publisher=International Monetary Fund |url=http://jolis.worldbankimflib.org/Bwf/60panel3.htm |access-date=11 August 2012 |archive-url=https://web.archive.org/web/20170822023626/http://jolis.worldbankimflib.org/Bwf/60panel3.htm |archive-date=22 August 2017 |url-status=dead }}</ref>]]
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| The World Bank was created at the 1944 [[Bretton Woods Conference]], along with the [[International Monetary Fund]] (IMF). The president of the World Bank is traditionally an [[United States|American]].<ref>''[[The New York Times]]'', 17 March 2015, [https://www.nytimes.com/2015/03/18/business/france-germany-and-italy-join-asian-infrastructure-investment-bank.html "France, Germany and Italy Say They'll Join China-Led Bank"]</ref> The World Bank and the IMF are both based in Washington, D.C., and work closely with each other.
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| [[File:The Gold Room - Bretton Woods Mount Washington Hotel.jpg|thumb|The Gold Room at the [[Mount Washington Hotel]] where the International Monetary Fund and World Bank were established]]
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| Although many countries were represented at the Bretton Woods Conference, the [[United States]] and [[United Kingdom]] were the most powerful in attendance and dominated the negotiations.<ref name="Goldman 2005">{{cite book |title=Imperial Nature: The World Bank and Struggles for Social Justice in the Age of Globalization |url=https://archive.org/details/imperialnaturewo0000gold |url-access=registration |author=Goldman, Michael |year=2005 |publisher=[[Yale University Press]] |location=New Haven, CT |isbn=978-0-300-11974-9}}</ref>{{rp|52–54}} The intention behind the founding of the World Bank was to provide temporary loans to low-income countries that could not obtain loans commercially.<ref name=":0">{{cite journal|last1=Clemens|first1=Michael A.|last2=Kremer|first2=Michael|title=The New Role for the World Bank|journal=Journal of Economic Perspectives|language=en|volume=30|issue=1|pages=53–76|doi=10.1257/jep.30.1.53|issn=0895-3309|doi-access=free}}</ref> The Bank may also make loans and demand policy reforms from recipients.<ref name=":0" />
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| === {{anchor|Early History|1944|1974|1944-1974}} 1944–1974===
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| In its early years, the Bank made a slow start for two reasons: it was underfunded, and there were leadership struggles between the US Executive Director and the president of the organization. When the [[Marshall Plan]] went into effect in 1947, many European countries began receiving aid from other sources. Faced with this competition, the World Bank shifted its focus to non-European allies. Until 1968, its loans were [[Earmark (finance)|earmark]]ed for the construction of infrastructure works, such as seaports, highway systems, and power plants, that would generate enough income to enable a borrower country to repay the loan. In 1960, the [[International Development Association]] was formed (as opposed to a UN fund named SUNFED), providing soft loans to developing countries.
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| Before 1974, the reconstruction and development loans the World Bank made were relatively small. Its staff was aware of the need to instill confidence in the bank. [[Fiscal conservatism]] ruled, and loan applications had to meet strict criteria.<ref name="Goldman 2005" />{{rp|56–60}}
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| The first country to receive a World Bank loan was France in 1947. The Bank's president at the time, [[John J. McCloy|John McCloy]], chose France over two other applicants, Poland and Chile. The loan was for US$250 million, half the amount requested, and came with strict conditions. France had to agree to produce a balanced budget and give priority of debt repayment to the World Bank over other governments. World Bank staff closely monitored the use of the funds to ensure that the French government met the conditions. In addition, before the loan was approved, the [[United States State Department]] told the French government that its members associated with the Communist Party would first have to be removed. The French government complied and removed the [[Communist Party of France|Communist]] [[coalition government]]—the so-called [[Tripartite system (politics)|tripartite]]. Within hours, the loan to France was approved.<ref name="Bird 1992">{{cite book |title=The Chairman: John J. McCloy, the Making of the American Establishment |author=Bird, Kai |year=1992 |publisher=[[Simon & Schuster]] |location=New York City |isbn=978-0-671-45415-9 |url=https://archive.org/details/chairmanjohnjmc00bird}}{{rp|288, 290–291}}</ref>
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| ===1974–1980===
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| From 1974 to 1980, the bank concentrated on meeting the basic needs of people in the [[Developing country|developing world]]. The size and number of loans to borrowers greatly increased, as loan targets expanded from infrastructure into social services and other sectors.<ref name="World Bank Historical Chronology 1970-1979">{{cite web |title=World Bank Historical Chronology: 1970–1979 |publisher=World Bank Group |author=World Bank |url=http://go.worldbank.org/847R4CBE80 |archive-url=http://webarchive.loc.gov/all/20111113144021/http://go.worldbank.org/847R4CBE80 |url-status=dead |archive-date=13 November 2011 |access-date=31 May 2012 }}</ref>
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| These changes can be attributed to [[Robert McNamara]], who was appointed to the presidency in 1968 by [[Lyndon B. Johnson]].<ref name="Goldman 2005" />{{rp|60–63}} McNamara implored bank treasurer [[Eugene Rotberg]] to seek out new sources of capital outside of the northern banks that had been the primary sources of funding. Rotberg used the global bond market to increase the capital available to the bank.<ref name="Rotberg 1994">{{cite encyclopedia |title=Financial Operations of the World Bank |author=Rotberg, Eugene |encyclopedia=Bretton Woods: looking to the future: commission report, staff review, background papers |year=1994 |publisher=Bretton Woods Commission |location=Washington, D.C. |url=http://external.worldbankimflib.org/uhtbin/cgisirsi/x/0/0/5/?searchdata1=219610%7Bckey%7D#_ |access-date=13 August 2012 |archive-url=https://web.archive.org/web/20160705163027/http://external.worldbankimflib.org/uhtbin/cgisirsi/x/0/0/5/?searchdata1=219610%7Bckey%7D#_ |archive-date=5 July 2016 |url-status=dead }}</ref> One consequence of the period of poverty alleviation lending was the rapid rise of [[Debt of developing countries|Third World debt]]. From 1976 to 1980, developing world debt rose at an average annual rate of 20%.<ref name="Mosley et al. 1995">{{cite book |title=Aid and Power: The World Bank and Policy-Based Lending, 2nd Edition |author=Mosley, Paul |author2=Harrigan, Jane |author3=Toye, John |year=1995 |volume=1 |publisher=Routledge |location=Abingdon, UK |isbn=978-0-415-13209-1}}</ref><ref name="Toussaint 1999">{{cite book |title=Your Money or Your Life!: The Tyranny of Global Finance |author=Toussaint, Eric |year=1999 |publisher=Pluto Press |location=London |isbn=978-0-7453-1412-9}}</ref>
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| The World Bank Administrative Tribunal was established in 1980, to decide on disputes between the World Bank Group and its staff where allegation of non-observance of contracts of employment or terms of appointment had not been honored.<ref name="World Bank Admin Tribunal 2012">{{cite web | title = World Bank Administrative Tribunal | publisher = World Bank Group | author = World Bank | url = http://lnweb90.worldbank.org/crn/wbt/wbtwebsite.nsf/%28resultsweb%29/about?opendocument | access-date = 14 August 2011 | archive-url = https://web.archive.org/web/20111229110521/http://lnweb90.worldbank.org/crn/wbt/wbtwebsite.nsf/%28resultsweb%29/about?opendocument | archive-date = 29 December 2011 | url-status=dead | df = dmy-all }}</ref>
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| ===1980–1989===
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| McNamara was succeeded by US [[President of the United States|President]] [[Jimmy Carter]]'s nominee, [[Alden W. Clausen]], in 1980.<ref>{{cite news |url=https://www.nytimes.com/2013/01/26/business/aw-clausen-former-bank-of-america-chief-dies-at-89.html |newspaper=The New York Times |title=A.W. Clausen, Former Bank of America Chief, Dies at 89 |author=NELSON D. SCHWARTZ |access-date=27 October 2016 |quote=Mr. Clausen was chosen by President Jimmy Carter to lead the World Bank shortly before Mr. Carter was defeated by Ronald Reagan in 1980, but the new administration supported Mr. Clausen's nomination.}}</ref><ref>{{cite web |url=http://www.sfgate.com/bayarea/article/Tom-Clausen-BofA-World-Bank-head-dies-4218430.php |title=Tom Clausen, BofA, World Bank head, dies |publisher=SFGate |access-date=27 October 2016 |quote=That focus paid dividends when President Jimmy Carter nominated him in 1980 to succeed Robert McNamara as president of the World Bank. }}</ref> Clausen replaced many members of McNamara's staff and crafted a different mission emphasis. His 1982 decision to replace the bank's Chief Economist, [[Hollis B. Chenery]], with [[Anne Krueger]] was an example of this new focus. Krueger was known for her criticism of development funding and for describing [[Third World]] governments as "[[rent-seeking]] states".
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| During the 1980s, the bank emphasized lending to service Third-World debt, and [[structural adjustment]] policies designed to streamline the economies of developing nations. [[UNICEF]] reported in the late 1980s that the structural adjustment programs of the World Bank had been responsible for "reduced health, nutritional and educational levels for tens of millions of children in [[Asia]], [[Latin America]], and [[Africa]]".<ref name="Cornia et al. 1987">{{Cite book | title = Adjustment with a Human Face: Protecting the Vulnerable and Promoting Growth | editor = Cornia, Giovanni Andrea | editor2 = Jolly, Richard | editor3 = Stewart, Frances | year = 1987 | publisher = Oxford University Press USA | location = New York, NY | isbn = 978-0-19-828609-7 | url-access = registration | url = https://archive.org/details/adjustmentwithhu0001unse }}</ref>
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| ===1989–present===
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| Beginning in 1989, in response to harsh criticism from many groups, the bank began including environmental groups and NGOs in its loans to mitigate the past effects of its development policies that had prompted the criticism.<ref name="Goldman 2005" />{{rp|93–97}} It also formed an implementing agency, in accordance with the Montreal Protocols, to stop [[Ozone depletion|ozone-depletion]] damage to the earth's atmosphere by phasing out the use of 95% of ozone-depleting chemicals, with a target date of 2015. Since then, in accordance with its so-called "Six Strategic Themes", the bank has put various additional policies into effect to preserve the environment while promoting development. For example, in 1991, the bank announced that to protect against deforestation, especially in the Amazon, it would not finance any commercial logging or infrastructure projects that harm the environment.
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| In order to promote global public goods, the World Bank tries to control communicable diseases such as malaria, delivering vaccines to several parts of the world, and joining combat forces. In 2000 the bank announced a "war on AIDS" and in 2011 the bank joined the Stop Tuberculosis Partnership.<ref name="World Bank Results 2012">{{cite web |title = Results|publisher = World Bank Group|author = World Bank|url = https://www.worldbank.org/results/|access-date = 31 May 2012}}</ref>
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| Traditionally, based on a tacit understanding between the United States and Europe, the [[World Bank presidential election, 2012|president of the World Bank]] has been selected from candidates nominated by the United States. This is significant because the World Bank tends to lend more readily to countries that are friendly with the United States, not because of direct U.S. influence but because of the employees of the World Bank.<ref>{{cite journal |last1=Clark |first1=Richard |last2=Dolan |first2=Lindsay |title=Pleasing the Principal: US Influence in World Bank Policymaking |journal=American Journal of Political Science |year=2021 |volume=65 |pages=36–51 |doi=10.1111/ajps.12531 |s2cid=219757123 |url=https://onlinelibrary.wiley.com/doi/abs/10.1111/ajps.12531 |access-date=8 December 2020}}</ref> In 2012, for the first time, two non-US citizens were nominated.
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| On 23 March 2012, U.S. President [[Barack Obama]] announced that the United States would nominate [[Jim Yong Kim]] as the next president of the bank.<ref name="Office of the Press Secretary 2012">{{Cite news | title = President Obama Announces U.S. Nomination of Dr. Jim Yong Kim to Lead World Bank | author = Office of the Press Secretary | date = 23 March 2012 | url = https://obamawhitehouse.archives.gov/the-press-office/2012/03/23/president-obama-announces-us-nomination-dr-jim-yong-kim-lead-world-bank | via = [[NARA|National Archives]] | work = [[whitehouse.gov]] | access-date = 23 March 2012}}</ref> Jim Yong Kim was elected on 27 April 2012 and reelected to a second five-year term in 2017. He announced that he would resign effective 1 February 2019.<ref>{{cite news|url=https://www.bbc.com/news/business-46787840|title=Jim Yong Kim steps down as President of World Bank|author=BBC|work=BBC News}}</ref> He was replaced on an interim basis by now-former World Bank CEO [[Kristalina Georgieva]], then by [[David Malpass]] on 9 April 2019.
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| In 2023 a new president was appointed: [[Ajay Banga]]. His term will begun on 2 June. He was supported by the American president [[Joe Biden]] partly because he supports [[climate action]]. He is also expected to help low income countries deal with debts. He is the first Indian American to lead the bank. He worked before as the head of [[Mastercard]]. The former president [[David Malpass]] faced criticism as he challenged the [[scientific consensus on climate change]].<ref name=Michelle>{{cite news |last1=Fleury |first1=Michelle |title=Biden pick Ajay Banga gets top World Bank job|url=https://www.bbc.com/news/business-65474459 |access-date=7 May 2023 |agency=BBC }}</ref>
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| ==COVID-19 Pandemic==
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| In September 2020 during the [[COVID-19 pandemic]], the World Bank announced a $12 billion plan to supply "low and middle income countries" with a vaccine once it was approved.<ref>{{cite news|url=https://www.theguardian.com/business/2020/sep/29/world-bank-announces-plan-poor-countries-buy-covid-vaccines|title=World Bank announces $12bn plan for poor countries to buy Covid vaccines|work=[[The Guardian]]|last=Elliot|first=Larry|access-date=30 September 2020}}</ref> In June of 2022, the bank reported that $10.1 billion had been allocated to supply 78 countries with the vaccine.<ref>{{Cite web |title=World Bank Support for Country Access to COVID-19 Vaccines |url=https://www.worldbank.org/en/who-we-are/news/coronavirus-covid19/world-bank-support-for-country-access-to-covid-19-vaccines |access-date=2022-10-04 |website=World Bank |language=en}}</ref>
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| [[File:World Bank Group headquarters.jpg|alt=|thumb|The [[World Bank Group]] headquarters building in Washington, D.C.]]
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| ==Evolution of criteria==
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| {{Unreferenced section}}
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| Various developments brought the [[Millennium Development Goals]] targets for 2015 within reach in some cases. For the goals to be realized, six criteria must be met: stronger and more inclusive growth in Africa and fragile states, more effort in health and education, integration of the development and environment agendas, more as well as better aid, movement on trade negotiations, and stronger and more focused support from multilateral institutions like the World Bank.<ref name="World Bank MDGs 2012">{{cite web |title = Millennium Development Goals|publisher = World Bank Group|author = World Bank|url = https://www.worldbank.org/mdgs/|access-date = 31 May 2012}}</ref>
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| # '''Eradicate Extreme Poverty and Hunger''': From 1990 through 2004, the proportion of people living in extreme poverty fell from almost a third to less than a fifth. Although results vary widely within regions and countries, the trend indicates that the world as a whole can meet the goal of halving the percentage of people living in poverty. Africa's poverty, however, is expected to rise, and most of the 36 countries where 90% of the world's undernourished children live are in Africa. Less than a quarter of countries are on track for achieving the goal of halving under-nutrition.
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| # '''Achieve Universal Primary Education''': The percentage of children in school in developing countries increased from 80% in 1991 to 88% in 2005. Still, about 72 million children of primary school age, 57% of them girls, were not being educated {{as of|2005|lc=y}}.
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| # '''Promote Gender Equality''': The tide is turning slowly for women in the labor market, yet far more women than men—worldwide more than 60%—are contributing but unpaid family workers. The World Bank Group Gender Action Plan was created to advance women's economic empowerment and promote shared growth.
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| # '''Reduce Child Mortality''': There is some improvement in survival rates globally; accelerated improvements are needed most urgently in South Asia and Sub-Saharan Africa. An estimated 10 million-plus children under five died in 2005; most of their deaths were from preventable causes.
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| # '''Improve Maternal Health''': Almost all of the half-million women who die during pregnancy or childbirth every year live in Sub-Saharan Africa and Asia. There are numerous causes of maternal death that require a variety of health care interventions to be made widely accessible.
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| # '''Combat HIV/AIDS, Malaria, and Other Diseases''': Annual numbers of new HIV infections and AIDS deaths have fallen, but the number of people living with HIV continues to grow. In the eight worst-hit southern African countries, prevalence is above 15 percent. Treatment has increased globally, but still meets only 30 percent of needs (with wide variations across countries). AIDS remains the leading cause of death in Sub-Saharan Africa (1.6 million deaths in 2007). There are 300 to 500 million cases of malaria each year, leading to more than 1 million deaths. Nearly all the cases and more than 95 percent of the deaths occur in Sub-Saharan Africa.
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| # '''Ensure Environmental Sustainability''': Deforestation remains a critical problem, particularly in regions of biological diversity, which continues to decline. Greenhouse gas emissions are increasing faster than energy technology advancement.
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| # '''Develop a Global Partnership for Development''': Donor countries have renewed their commitment. Donors have to fulfill their pledges to match the current rate of core program development. Emphasis is being placed on the Bank Group's collaboration with multilateral and local partners to quicken progress toward the MDGs' realization.
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| === Environmental and Social Safeguards ===
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| To ensure that World Bank-financed operations do not compromise these goals but instead add to their realisation, the following environmental, social, and legal safeguards were defined: Environmental Assessment, Indigenous Peoples, Involuntary Resettlement, Physical Cultural Resources, Forests, Natural Habitats, Pest Management, Safety of Dams, Projects in Disputed Areas, Projects on International Waterways, and Performance Standards for Private Sector Activities.<ref>{{cite web |title=Environmental and Social Policies |author=The World Bank |publisher= World Bank Group |url=https://www.worldbank.org/en/projects-operations/environmental-and-social-policies#safeguards|access-date = 4 December 2020}}</ref>
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| At the World Bank's 2012 annual meeting in Tokyo, a review of these safeguards was initiated, which was welcomed by several civil society organisations.<ref>{{cite web |title=Most relevant review |author=Korinna Horta |publisher=dandc.eu |url=http://www.dandc.eu/en/article/world-bank-reviewing-its-social-and-environmental-safeguards-and-civil-society-organisations}}</ref> As a result, the World Bank developed a new Environmental and Social Framework, which has been in implementation since 1 October 2018.<ref>{{cite web |title=Environmental and Social Framework |author=The World Bank |publisher= World Bank Group |url=https://www.worldbank.org/en/projects-operations/environmental-and-social-framework}}</ref>
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| ==Leadership==
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| The President of the Bank is the president of the entire [[World Bank Group]]. The president is responsible for chairing meetings of the boards of directors and for overall management of the Bank. Traditionally, the president of the Bank has always been a U.S. citizen nominated by the United States, the largest shareholder in the bank (the managing director of the [[International Monetary Fund]] having always been a European). The nominee is subject to confirmation by the board of executive directors to serve a five-year, renewable term. While most World Bank presidents have had banking experience, some have not.<ref name="Hurlburt 2012">{{Cite news | title = Why Jim Yong Kim would make a great World Bank president | author = Hurlburt, Heather | date = 23 March 2012 | newspaper = The Guardian | url = https://www.theguardian.com/commentisfree/cifamerica/2012/mar/23/jim-yong-kim-world-bank-president | access-date = 23 March 2012}}</ref><ref name="World Bank Leadership 2012">{{cite web | title = Leadership | publisher = World Bank Group | author = World Bank | url = http://go.worldbank.org/HWEWI4KIO0 | access-date = 17 July 2012}}</ref>
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| The vice presidents of the Bank are its principal managers, in charge of regions, sectors, networks and functions. There are two executive vice presidents, three senior vice presidents, and 24 vice presidents.<ref name="World Bank Senior Management 2012">{{cite web | title = Senior Management | publisher = World Bank Group | author = World Bank | url = http://go.worldbank.org/DHWEE5LGQ0 | archive-url = https://archive.today/20130416051123/http://go.worldbank.org/DHWEE5LGQ0 | url-status = dead | archive-date = 16 April 2013 | access-date = 12 August 2012 }}</ref>
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| The boards of directors consist of the World Bank Group president and 25 executive directors. The president is the presiding officer, and ordinarily has no vote except to break a tie. The executive directors as individuals cannot exercise any power or commit or represent the Bank unless the boards specifically authorized them to do so. With the term beginning 1 November 2010, the number of executive directors increased by one, to 25.<ref name="World Bank Boards of Directors 2012">{{cite web | title = Boards of Directors | publisher = World Bank Group | author = World Bank | url = http://go.worldbank.org/LHHOT1LSW0 | access-date = 12 August 2012 |archive-url=http://archive.today/20130416051730/http://go.worldbank.org/LHHOT1LSW0 |archive-date=2013-04-16 |url-status=dead}}</ref>
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| ===Presidents===
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| {| class="wikitable"
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| |+Presidents of the World Bank
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| |-
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| ! Name
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| ! Dates
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| ! Nationality
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| ! Previous work
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| |-
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| | [[Eugene Meyer (financier)|Eugene Meyer]]
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| | 1946–1946
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| |{{flagcountry|United States}}
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| | Newspaper publisher and Chairman of the Federal Reserve
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| |-
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| | [[John J. McCloy]]
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| | 1947–1949
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| |{{flagcountry|United States}}
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| | Lawyer and US Assistant Secretary of War
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| |-
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| | {{nowrap|[[Eugene R. Black, Sr.]]}}
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| | 1949–1963
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| |{{flagcountry|United States}}
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| | Bank executive with [[Chase Manhattan Bank|Chase]] and executive director with the World Bank
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| |-
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| | [[George David Woods|George Woods]]
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| | 1963–1968
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| |{{flagcountry|United States}}
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| | Bank executive with [[First Boston Corporation]]
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| |-
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| | [[Robert McNamara]]
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| | 1968–1981
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| |{{flagcountry|United States}}
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| | President of the [[Ford Motor Company]], US Defense Secretary under presidents [[John F. Kennedy]] and [[Lyndon B. Johnson]]
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| |-
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| | [[Alden W. Clausen]]
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| | 1981–1986
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| |{{flagcountry|United States}}
| |
| | Lawyer, bank executive with [[Bank of America]]
| |
| |-
| |
| | [[Barber Conable]]
| |
| | 1986–1991
| |
| |{{flagcountry|United States}}
| |
| | New York State Senator and US Congressman
| |
| |-
| |
| | [[Lewis Thompson Preston|Lewis T. Preston]]
| |
| | 1991–1995
| |
| |{{flagcountry|United States}}
| |
| | Bank executive with [[J.P. Morgan]]
| |
| |-
| |
| | {{nowrap| [[James Wolfensohn]]}}
| |
| | 1995–2005
| |
| |{{flagcountry|United States}} and {{flagcountry|Australia}}
| |
| | Wolfensohn was a naturalised American citizen before taking office. Corporate lawyer and banker
| |
| |-
| |
| | [[Paul Wolfowitz]]
| |
| | 2005–2007
| |
| |{{flagcountry|United States}}
| |
| | US Ambassador to Indonesia, US Deputy Secretary of Defense, Dean of the School of Advanced International Studies (SAIS) at Johns Hopkins University, a prominent architect of [[2003 invasion of Iraq]], resigned World Bank post due to ethics scandal<ref>[http://www.ft.com/cms/s/42f29804-e8ae-11db-b2c3-000b5df10621.html "Wolfowitz Laid Out Terms for Partner's Pay Package"], ''The Financial Times'', 12 April 2007, accessed 14 May 2007</ref>
| |
| |-
| |
| | [[Robert Zoellick]]
| |
| | 2007–2012
| |
| |{{flagcountry|United States}}
| |
| | Deputy Secretary of State and US Trade Representative
| |
| |-
| |
| | [[Jim Yong Kim]]
| |
| | 2012–2019
| |
| |{{flagcountry|United States}}
| |
| |Former Chair of the Department of Global Health and Social Medicine at [[Harvard Medical School|Harvard]], president of [[Dartmouth College]], naturalized American citizen<ref>{{cite news |title=Why Jim Yong Kim would make a great World Bank president |author=Heather Hurlburt |url=https://www.theguardian.com/commentisfree/cifamerica/2012/mar/23/jim-yong-kim-world-bank-president |newspaper=The Guardian |access-date=9 March 2016 |quote=Kim is a naturalized US citizen who was born in Korea. |location=London}}</ref>
| |
| |-
| |
| |[[Kristalina Georgieva]] (acting)
| |
| |2019
| |
| |{{flagcountry|Bulgaria}}
| |
| |Former European Commissioner for the Budget and Human Resources and 2010's "European of the Year"
| |
| |-
| |
| |[[David Malpass]]
| |
| |2019–2023
| |
| |{{flagcountry|United States}}
| |
| | Under Secretary of the Treasury for International Affairs
| |
| |-
| |
| |[[Ajay Banga]]
| |
| |2023–present
| |
| |{{flagcountry|United States}}
| |
| | Former head of [[Mastercard]]<ref name=Michelle/>
| |
| |}
| |
| | |
| ===Chief Economists===
| |
| {{Main|World Bank Chief Economist}}
| |
| | |
| {| class="wikitable"
| |
| |+World Bank Chief Economists<ref>{{cite news|url=https://www.bloomberg.com/news/articles/2018-01-24/romer-steps-down-as-world-bank-chief-economist-after-rocky-stint|title=Paul Romer Steps Down as World Bank Chief Economist After Rocky Stint|last=Mayeda|first=Andrew|newspaper=Bloomberg.com}}</ref>
| |
| |-
| |
| ! Name
| |
| ! Dates
| |
| ! Nationality
| |
| |-
| |
| | [[Hollis B. Chenery]]
| |
| | 1972–1982
| |
| |{{flagcountry|United States}}
| |
| |-
| |
| | [[Anne Osborn Krueger]]
| |
| | 1982–1986
| |
| |{{flagcountry|United States}}
| |
| |-
| |
| | [[Stanley Fischer]]
| |
| | 1988–1990
| |
| |{{flagcountry|United States}} and {{flagcountry|Israel}}
| |
| |-
| |
| | [[Lawrence Summers]]
| |
| | 1991–1993
| |
| |{{flagcountry|United States}}
| |
| |-
| |
| | [[Michael Bruno (economist)|Michael Bruno]]
| |
| | 1993–1996
| |
| |{{flagcountry|Israel}}
| |
| |-
| |
| | [[Joseph Stiglitz|Joseph E. Stiglitz]]
| |
| | 1997–2000
| |
| |{{flagcountry|United States}}
| |
| |-
| |
| | [[Nicholas Stern, Baron Stern of Brentford|Nicholas Stern]]
| |
| | 2000–2003
| |
| |{{flagcountry|United Kingdom}}
| |
| |-
| |
| | [[François Bourguignon]]
| |
| | 2003–2007
| |
| |{{flagcountry|France}}
| |
| |-
| |
| | [[Justin Yifu Lin]]
| |
| | 2008–2012
| |
| |{{flagcountry|China}}
| |
| |-
| |
| | [[Kaushik Basu]]
| |
| | 2012–2016
| |
| |{{flagcountry|India}}
| |
| |-
| |
| | [[Paul Romer]]
| |
| | 2016–2018
| |
| |{{flagcountry|United States}}
| |
| |-
| |
| | [[Shanta Devarajan]] <small>(Acting)</small>
| |
| | 2018–2018
| |
| |{{flagcountry|United States}}
| |
| |-
| |
| | [[Pinelopi Koujianou Goldberg|Penny Goldberg]]<ref>{{cite web |url=https://news.yale.edu/2018/04/26/yales-penny-goldberg-appointed-chief-economist-world-bank |title=Yale's Penny Goldberg appointed chief economist at the World Bank |access-date=27 April 2018}}</ref><ref>{{cite web | title=World Bank Group President Appoints Pinelopi Koujianou Goldberg as Chief Economist |url= http://www.worldbank.org/en/news/press-release/2018/04/26/world-bank-group-president-appoints-pinelopi-koujianou-goldberg-as-chief-economist| access-date=27 April 2018}}</ref><ref>{{Cite news|url=https://finance.yahoo.com/news/world-bank-lose-second-chief-172500978.html|title=World Bank Loses Chief Economist in under 15 months|last=Lawder|first=David|agency=[[Reuters]]|access-date=3 March 2020}}</ref>
| |
| | 2018–2020
| |
| |{{flagcountry|United States}}
| |
| |-
| |
| | Aart Kraay <small>(Acting)</small><ref>{{Cite web|url=https://www.channelnewsasia.com/news/business/world-bank-chief-economist-announces-resignation-12399274|title=World Bank Chief Economist announces resignation|website=[[Channel News Asia]]|access-date=3 March 2020}}</ref><ref>{{cite web |title=Aart Kraay |url=https://www.worldbank.org/en/about/people/a/aart-kraay |publisher=World Bank |access-date=3 March 2020}}</ref>
| |
| | 2020–2020
| |
| |
| |
| |-
| |
| | [[Carmen Reinhart]]
| |
| | 2020–2022
| |
| |{{flagcountry|United States}}
| |
| |-
| |
| |Indermit Gill
| |
| |2022–present
| |
| |{{flagcountry|India}}
| |
| |}
| |
| | |
| === Politicians who were World Bank employees ===
| |
| Some notable [[politicians]] who worked for the World Bank include:
| |
| * Former Afghanistan president, [[Ashraf Ghani]].<ref>{{Cite web|title=Ashraf Ghani {{!}} president of Afghanistan|url=https://www.britannica.com/biography/Ashraf-Ghani|access-date=23 August 2021|website=Encyclopedia Britannica|language=en}}</ref>
| |
| * [[Fakhruddin Ahmed]] was the chief adviser of the interim [[Government of Bangladesh]] during the [[2006–2008 Bangladeshi political crisis|political crisis of 2006–2008]].<ref>{{Cite web|title=The Daily Star Web Edition Vol. 5 Num 933|url=https://archive.thedailystar.net/2007/01/13/d7011301011.htm|access-date=23 August 2021|website=archive.thedailystar.net}}</ref>
| |
| * [[Ngozi Okonjo-Iweala]], former World Bank Managing Director who held several posts in the government of [[Nigeria]], including Minister of Finance.
| |
| * [[Sri Mulyani Indrawati]], former World Bank Managing Director and current Minister of Finance of [[Indonesia]]
| |
| | |
| ==Members==
| |
| {{Main|List of World Bank members}}
| |
| | |
| The [[International Bank for Reconstruction and Development]] (IBRD) has 189 member countries, while the [[International Development Association]] (IDA) has 174. Each member state of IBRD should also be a member of the [[International Monetary Fund]] (IMF) and only members of IBRD are allowed to join other institutions within the Bank (such as IDA).<ref name="Member Countries"/> The five United Nations member states that are not members of the World Bank are Andorra, Cuba, Liechtenstein, Monaco, and North Korea. Kosovo is not a member of the UN, but is a member of the IMF and the World Bank Group, including the IBRD and IDA.
| |
| | |
| ===Voting power===
| |
| In 2010, voting powers at the World Bank were revised to increase the voice of developing countries, notably China. The countries with most voting power are now the United States (15.85%), Japan (6.84%), [[People's Republic of China|China]] (4.42%), Germany (4.00%), the United Kingdom (3.75%), France (3.75%), [[India]] (2.91%),<ref>{{cite news|title=Developing nations get more say in World Bank affairs|url=http://timesofindia.indiatimes.com/india/Developing-nations-get-more-say-in-World-Bank-affairs/articleshow/5858176.cms|access-date=5 April 2014|newspaper=The Times of India}}</ref> Russia (2.77%), Saudi Arabia (2.77%) and Italy (2.64%). Under the changes, known as 'Voice Reform – Phase 2', countries other than China that saw significant gains included [[South Korea]], Turkey, [[Mexico]], Singapore, [[Greece]], [[Czech Republic]], [[Hungary]], Brazil, [[India]], and Spain. Most developed countries' voting power was reduced, along with a few developing countries such as [[Nigeria]]. The voting powers of the United States, Russia and [[Saudi Arabia]] were unchanged.<ref name="IBRD Voting Power Realignment 2010">{{Cite report | title = IBRD 2010 Voting Power Realignment | publisher = World Bank Group | date = 2010 | author = International Bank for Reconstruction and Development | url = http://siteresources.worldbank.org/NEWS/Resources/IBRD2010VotingPowerRealignmentFINAL.pdf | access-date = 14 August 2011 | archive-url = https://web.archive.org/web/20111229201102/http://siteresources.worldbank.org/NEWS/Resources/IBRD2010VotingPowerRealignmentFINAL.pdf | archive-date = 29 December 2011 | url-status = live }}</ref><ref name="Veloo 2010">{{Cite news | title = China given more influence in World Bank | author = Veloo, Betsy May | date = 26 April 2010 | publisher = RTHK | url = http://www.rthk.org.hk/rthk/news/englishnews/news.htm?main&20100426&56&663699 | access-date = 26 April 2010 | archive-date = 5 June 2011 | archive-url = https://web.archive.org/web/20110605192408/http://www.rthk.org.hk/rthk/news/englishnews/news.htm?main&20100426&56&663699 | url-status = dead }}</ref>
| |
| | |
| The changes were brought about with the goal of making voting more universal in regards to standards, rule-based with objective indicators, and transparent among other things. Now, developing countries have an increased voice in the "Pool Model", backed especially by Europe. Additionally, voting power is based on economic size in addition to the International Development Association contributions.<ref name="Stumm 2011">{{Cite news | title = World Bank: More responsibility for developing countries | author = Stumm, Mario | date = March 2011 | publisher = D+C | url = http://www.dandc.eu/articles/193054/index.en.shtml | access-date = 12 August 2011}}</ref>
| |
| | |
| ==List of 20 largest countries by voting power in each World Bank institution==
| |
| The following table shows the subscriptions of the top 20 member countries of the World Bank by voting power in the following World Bank institutions as of December 2014 or March 2015: the [[International Bank for Reconstruction and Development]] (IBRD), the [[International Finance Corporation]] (IFC), the [[International Development Association]] (IDA), and the [[Multilateral Investment Guarantee Agency]] (MIGA). Member countries are allocated votes at the time of membership and subsequently for additional subscriptions to capital (one vote for each share of capital stock held by the member).<ref>{{cite web |url=http://siteresources.worldbank.org/BODINT/Resources/278027-1215524804501/IBRDCountryVotingTable.pdf |title=International Bank for Reconstruction and Development |url-status=dead |access-date=25 October 2014 |archive-date=6 September 2015 |archive-url=https://web.archive.org/web/20150906093100/http://siteresources.worldbank.org/BODINT/Resources/278027-1215524804501/IBRDCountryVotingTable.pdf }}</ref><ref>{{cite web |url=http://siteresources.worldbank.org/BODINT/Resources/278027-1215524804501/IFCCountryVotingTable.pdf |title=International Finance Corporation |url-status=dead |access-date=26 March 2015 |archive-date=6 September 2015 |archive-url=https://web.archive.org/web/20150906192909/http://siteresources.worldbank.org/BODINT/Resources/278027-1215524804501/IFCCountryVotingTable.pdf }}</ref><ref>{{cite web |url=http://siteresources.worldbank.org/BODINT/Resources/278027-1215524804501/IDACountryVotingTable.pdf |title=International Development Association |url-status=dead |access-date=26 March 2015 |archive-date=6 September 2015 |archive-url=https://web.archive.org/web/20150906164130/http://siteresources.worldbank.org/BODINT/Resources/278027-1215524804501/IDACountryVotingTable.pdf }}</ref><ref>{{cite web |url=http://siteresources.worldbank.org/BODINT/Resources/278027-1215524804501/MIGACountryVotingTable.pdf |title=Multilateral Investment Guarantee Agency |url-status=dead |access-date=26 March 2015 |archive-date=6 September 2015 |archive-url=https://web.archive.org/web/20150906191601/http://siteresources.worldbank.org/BODINT/Resources/278027-1215524804501/MIGACountryVotingTable.pdf }}</ref>
| |
| | |
| {| class="wikitable sortable" style="text-align: right"
| |
| |+ The 20 Largest Countries by Voting Power (Number of Votes)
| |
| ! Rank !! Country !! [[International Bank for Reconstruction and Development|IBRD]] !! Country !! [[International Finance Corporation|IFC]] !! Country !! [[International Development Association|IDA]] !! Country !! [[Multilateral Investment Guarantee Agency|MIGA]]
| |
| |-
| |
| | || align=left|'''''World''''' || 2,201,754 || align=left|'''''World''''' || 2,653,476 || align=left|'''''World''''' || 24,682,951 || align=left|'''''World''''' || 218,237
| |
| |-
| |
| | 1 || align=left|{{Flag|United States}} || 358,498 || align=left|{{Flag|United States}} || 570,179 || align=left|{{Flag|United States}}|| 2,546,503 || align=left|{{Flag|United States}} || 32,790
| |
| |-
| |
| | 2 || align=left|{{Flag|Japan}} || 166,094 || align=left| {{Flag|Japan}}|| 163,334 || align=left| {{Flag|Japan}}|| 2,112,243 || align=left| {{Flag|Japan}}|| 9,205
| |
| |-
| |
| | 3 || align=left|{{Flag|China}} || 107,244 || align=left|{{Flag|Germany}} || 129,708 || align=left|{{Flag|United Kingdom}} || 1,510,934 || align=left|{{Flag|Germany}} || 9,162
| |
| |-
| |
| | 4 || align=left|{{flag|Germany}} || 97,224 || align=left|{{flag|France}} || 121,815 || align=left|{{flag|Germany}} || 1,368,001 || align=left|{{flag|France}} || 8,791
| |
| |-
| |
| | 5 || align=left|{{flag|France}} || 87,241 || align=left|{{flag|United Kingdom}} || 121,815 || align=left|{{flag|France}} || 908,843 || align=left|{{flag|United Kingdom}} || 8,791
| |
| |-
| |
| | 6 || align=left|{{flag|United Kingdom}} || 87,241 || align=left|{{flag|India}} || 103,747 || align=left|{{flag|Saudi Arabia}} || 810,293 || align=left|{{flag|China }}|| 5,756
| |
| |-
| |
| | 7 || align=left|{{flag|India}} || 67,690 || align=left|{{flag|Russia}} || 103,653 || align=left|{{flag|India}} || 661,909 || align=left|{{flag|Russia}} || 5,754
| |
| |-
| |
| | 8 || align=left|{{flag|Saudi Arabia}} || 67,155 || align=left|{{flag|Canada}} || 82,142 || align=left|{{flag|Canada}} || 629,658 || align=left|{{flag|Saudi Arabia}} || 5,754
| |
| |-
| |
| | 9 || align=left|{{flag|Canada}} || 59,004 || align=left|{{flag|Italy}} || 82,142 || align=left|{{flag|Italy}} || 573,858 || align=left|{{flag|India}} || 5,597
| |
| |-
| |
| | 10 || align=left|{{flag|Italy}} || 54,877 || align=left|{{flag|China}} || 62,392 || align=left|{{flag|China}} || 521,830 || align=left|{{flag|Canada}} || 5,451
| |
| |-
| |
| | 11 || align=left|{{flag|Russia}} || 54,651 || align=left|{{flag|Netherlands}} || 56,931 || align=left|{{flag|Poland}} || 498,102 || align=left|{{flag|Italy}} || 5,196
| |
| |-
| |
| | 12 || align=left|{{flag|Spain}} || 42,948 || align=left|{{flag|Belgium}} || 51,410 || align=left|{{flag|Sweden}} || 494,360 || align=left|{{flag|Netherlands}} || 4,048
| |
| |-
| |
| | 13 || align=left|{{flag|Brazil}} || 42,613 || align=left|{{flag|Australia}} || 48,129 || align=left|{{flag|Netherlands}} || 488,209 || align=left|{{flag|Belgium}} || 3,803
| |
| |-
| |
| | 14 || align=left|{{flag|Netherlands}} || 42,348 || align=left|{{flag|Switzerland}} || 44,863 || align=left|{{flag|Brazil}} || 412,322 || align=left|{{flag|Australia}} || 3,245
| |
| |-
| |
| | 15 || align=left|{{flag|Korea}} || 36,591 || align=left|{{flag|Brazil}} || 40,279 || align=left|{{flag|Australia}} || 312,566 || align=left|{{flag|Switzerland}} || 2,869
| |
| |-
| |
| | 16 || align=left|{{flag|Belgium}} || 36,463 || align=left|{{flag|Mexico}} || 38,929 || align=left|{{flag|Switzerland}} || 275,755 || align=left|{{flag|Brazil }}|| 2,832
| |
| |-
| |
| | 17 || align=left|{{flag|Iran}} || 34,718 || align=left|{{flag|Spain}} || 37,826 || align=left|{{flag|Belgium}}|| 275,474 || align=left|{{flag|Spain}} || 2,491
| |
| |-
| |
| | 18 || align=left|{{flag|Switzerland}} || 33,296 || align=left|{{flag|Indonesia}} || 32,402 || align=left|{{flag|Norway}} || 258,209 || align=left|{{flag|Argentina}} || 2,436
| |
| |-
| |
| | 19 || align=left|{{flag|Australia}} || 30,910 || align=left|{{flag|Saudi Arabia}} || 30,862 || align=left|{{flag|Denmark}}|| 231,685 || align=left|{{flag|Indonesia}} || 2,075
| |
| |-
| |
| | 20 || align=left|{{flag|Turkey}} || 26,293 || align=left|{{flag|Korea}}|| 28,895 || align=left|{{flag|Pakistan}} || 218,506 || align=left|{{flag|Sweden}} || 2,075
| |
| |}
| |
| | |
| ==Poverty reduction strategies==
| |
| For the poorest [[Developing country|developing countries]] in the world, the bank's assistance plans are based on [[Poverty Reduction Strategy Paper|poverty reduction strategies]]; by combining an analysis of local groups with an analysis of the country's financial and economic situation the World Bank develops a plan pertaining to the country in question. The government then identifies the country's priorities and targets for the reduction of poverty, and the World Bank instigates its aid efforts correspondingly.
| |
| | |
| Forty-five countries pledged US$25.1 billion in "aid for the world's poorest countries", aid that goes to the World Bank [[International Development Association]] (IDA), which distributes the loans to eighty poorer countries. Wealthier [[nations]] sometimes fund their own aid projects, including those for diseases. Robert B. Zoellick, the former president of the World Bank, said when the loans were announced on 15 December 2007, that IDA money "is the core funding that the poorest developing countries rely on".<ref name="Landler 2007">{{Cite news | title = Britain Overtakes U.S. as Top World Bank Donor | author = Landler, Mark | date = 15 December 2007 | newspaper = The New York Times | url = https://www.nytimes.com/2007/12/15/world/15worldbank.html | access-date = 14 August 2011}}</ref>
| |
| | |
| World Bank organizes the [[World Bank Development Marketplace Award|Development Marketplace Awards]], a grant program that surfaces and funds development projects with potential for development impact that are scalable and/or replicable. The grant beneficiaries are social enterprises with projects that aim to deliver social and public services to groups with the lowest incomes.
| |
| | |
| ==Global partnerships and initiatives==
| |
| The World Bank has been assigned temporary management responsibility of the [[Clean Technology Fund]] (CTF), focused on making [[renewable energy]] cost-competitive with coal-fired power as quickly as possible, but this may not continue after UN's Copenhagen climate change conference in December 2009, because of the Bank's continued investment in [[coal-fired power plant]]s.<ref name="Wheeler 2008">{{Cite news | title = Climate Change in Nashville: A Gathering Storm for the World Bank? | author = Wheeler, David | date = 20 May 2008 | publisher = Center for Global Development | url = http://blogs.cgdev.org/globaldevelopment/2008/05/climate-change-in-nashville-a.php | access-date = 9 November 2008}}</ref> (In December 2017, Kim announced the World Bank would no longer finance fossil fuel development.)
| |
| | |
| Together with the [[World Health Organization]], the World Bank administers the [[International Health Partnership]] (IHP+). IHP+ is a group of partners committed to improving the health of citizens in developing countries. Partners work together to put international principles for [[aid effectiveness]] and development cooperation into practice in the [[health sector]]. IHP+ mobilizes national governments, development agencies, civil society, and others to support a single, country-led national health strategy in a well-coordinated way.
| |
| | |
| ===Climate change===
| |
| {{main|Climate Change}}
| |
| World Bank President [[Jim Yong Kim]] said in 2012:
| |
| | |
| <blockquote>A 4-degree warmer world can, and must be, avoided—we need to hold warming below 2 degrees ... Lack of action on climate change threatens to make the world our children inherit a completely different world than we are living in today. Climate change is one of the single biggest challenges facing development, and we need to assume the moral responsibility to take action on behalf of future generations, especially the poorest.<ref>{{Cite press release|title=New Report Examines Risks of 4 Degree Hotter World by End of Century |url=https://www.worldbank.org/en/news/press-release/2012/11/18/new-report-examines-risks-of-degree-hotter-world-by-end-of-century |publisher=World Bank |access-date=12 October 2013 }}</ref></blockquote>
| |
| | |
| A World Bank report into [[climate change]] in 2012 noted that (p. xiii) "even with the current mitigation commitments and pledges fully implemented, there is roughly a 20 percent likelihood of exceeding 4 °C by 2100." This is despite the fact that the "global community has committed itself to holding warming below 2 °C to prevent 'dangerous' climate change". Furthermore, "a series of recent extreme events worldwide highlight the vulnerability of all countries ... No nation will be immune to the impacts of climate change."<ref name= "Turn down the heat">[https://openknowledge.worldbank.org/handle/10986/11860 Why a 4 degree centrigrade warmer world must be avoided] November 2012 World Bank</ref>
| |
| | |
| The World Bank doubled its aid for [[climate change adaptation]] from $2.3bn (£1.47bn) in 2011 to $4.6bn in 2012. The planet is now 0.8 °C warmer than in pre-industrial times. It says that 2 °C warming will be reached in 20 to 30 years.<ref>[https://www.worldbank.org/en/news/feature/2013/06/19/what-climate-change-means-africa-asia-coastal-poor What Climate Change Means for Africa, Asia and the Coastal Poor] World Bank 19 June 2012</ref><ref>[https://www.theguardian.com/environment/2013/jun/19/climate-change-developing-countries-world-bank World's poorest will feel brunt of climate change, warns World Bank] ''[[The Guardian]]'' 19 June 2012</ref>
| |
| | |
| In December 2017, Kim announced the World Bank would no longer finance [[fossil fuel]] development,<ref>Ness, Erik, "The Cost of Skepticism," ''Brown Alumni Monthly,'' March/April 2018, p.16</ref><ref>{{Cite web|title=World Bank to quit upstream oil and gas projects after 2019|url=https://www.devex.com/news/sponsored/world-bank-to-quit-upstream-oil-and-gas-projects-after-2019-91736|access-date=26 August 2020|website=Devex}}</ref> but a 2019 [[International Consortium of Investigative Journalists]] article found that the Bank continues "to finance oil and gas exploration, pipelines and refineries," that "these fossil fuel investments make up a greater share of the bank's current energy lending portfolio than renewable projects," and that the Bank "has yet to meaningfully shift away from fossil fuels."<ref>{{Cite web|url=https://www.icij.org/investigations/world-bank/the-world-bank-is-still-hooked-on-fossil-fuels-despite-climate-pledge/|title=The World Bank is Still Hooked on Fossil Fuels Despite Climate Pledge|website=ICIJ|language=en-US|access-date=6 December 2019}}</ref>
| |
| | |
| EU finance ministers joined civil sector groups, including [[Extinction Rebellion]], in November 2019 in calling for an end to World Bank funding of fossil fuels.<ref>{{Cite web|url=https://www.dw.com/en/eu-finance-ministers-call-for-end-to-fossil-fuel-funding/a-51173077|title=EU finance ministers call for end to fossil fuel funding|last=Camino Gonzalez|first=Jenipher|website=Deutsche Welle|language=en-GB|access-date=6 December 2019}}</ref><ref>{{Cite web|url=https://www.commondreams.org/newswire/2019/10/18/no-more-excuses-world-bank-must-halt-all-funding-fossil-fuels|title=No More Excuses: The World Bank Must Halt All Funding for Fossil Fuels|website=Common Dreams|language=en|access-date=6 December 2019}}</ref><ref>{{Cite news|url=https://www.washingtonpost.com/local/climate-change-protesters-plan-to-block-downtown-dc-streets-friday-morning/2019/12/05/1d4c1a04-17a7-11ea-9110-3b34ce1d92b1_story.html|title=Climate change protesters block downtown D.C. streets in hours-long protest|last=Lang|first=Marissa J.|newspaper=[[Washington Post]]|access-date=8 December 2019}}</ref>
| |
| | |
| In 2021, the World Bank offered support to Kazakhstan to help the country in its mission for [[low-carbon economy|decarbonization]] and [[carbon neutrality]].<ref>{{Cite web|title=World Bank to Support Kazakhstan on its Path to Decarbonization and Carbon Neutrality, Says World Bank VP for Europe and Central Asia|url=https://astanatimes.com/2021/11/world-bank-to-support-kazakhstan-on-its-path-to-decarbonization-and-carbon-neutrality-says-world-bank-vp-for-europe-and-central-asia/|access-date=2021-11-20|website=The Astana Times|language=en}}</ref>
| |
| | |
| In 2023 a new president was appointed: [[Ajay Banga]]. He was supported by the American president [[Joe Biden]] partly because he supports [[climate action]]. The former president [[David Malpass]] faced criticism as he challenged the [[scientific consensus on climate change]].<ref>{{cite news |last1=Fleury |first1=Michelle |title=Biden pick Ajay Banga gets top World Bank job|url=https://www.bbc.com/news/business-65474459 |access-date=7 May 2023 |agency=BBC }}</ref>
| |
| | |
| ===Food security===
| |
| {{Main|Food security}}
| |
| | |
| # Global Food Security Program: Launched in April 2010, six countries alongside the [[Bill and Melinda Gates Foundation]] have pledged $925 million for [[food security]]. To date, the program has helped eight countries, promoting agriculture, research, trade in agriculture, etc.
| |
| # Launched Global Food Crisis Response Program: Given grants to approximately 40 nations for [[seeds]], etc. for improving productivity.
| |
| # In process of increasing its yearly spending for agriculture to $6–8 billion from earlier $4 billion.
| |
| # Runs various nutrition programs across the world, e.g., [[vitamin A]] doses for children, school meals, etc.<ref>{{Cite web|title=Food Security|url=https://www.worldbank.org/en/topic/food-security|access-date=14 October 2020|website=World Bank|language=en}}</ref>
| |
| | |
| ==Training wings==
| |
| | |
| === Global Operations Knowledge Management Unit ===
| |
| The World Bank Institute (WBI) was a "global connector of knowledge, learning and innovation for poverty reduction". It aimed to inspire change agents and prepare them with essential tools that can help achieve development results.
| |
| | |
| WBI had four major strategies to approach development problems: innovation for development, knowledge exchange, leadership and coalition building, and structured learning. World Bank Institute (WBI) was formerly known as Economic Development Institute (EDI), established on 11 March 1955 with the support of the Rockefeller and Ford Foundations. The purpose of the institute was to provide an open place where senior officials from developing countries could discuss development policies and programs. Over the years, EDI grew significantly and in 2000, the institute was renamed as the World Bank Institute. Sanjay Pradhan is the past Vice President of the World Bank Institute.<ref name="World Bank Institute About 2012">{{cite web | title = About WBI | publisher = World Bank Group | author = World Bank Institute | url = http://wbi.worldbank.org/wbi/about | access-date = 31 May 2012 | archive-url = https://web.archive.org/web/20120529155048/http://wbi.worldbank.org/wbi/about | archive-date = 29 May 2012 | url-status=dead | df = dmy-all }}</ref> As of 2019, World Bank Institute functions have been mostly encapsulated by a new unit Global Operations Knowledge Management Unit (GOKMU), which is now responsible for knowledge management and learning across the Bank.
| |
| | |
| ===Global Development Learning Network===
| |
| The Global Development Learning Network (GDLN) is a partnership of over 120 learning centers (GDLN Affiliates) in nearly 80 countries around the world. GDLN Affiliates collaborate in holding events that connect people across countries and regions for learning and dialogue on development issues.
| |
| | |
| GDLN clients are typically NGOs, government, private sector, and development agencies who find that they work better together on subregional, regional, or global development issues using the facilities and tools offered by GDLN Affiliates. Clients also benefit from the ability of Affiliates to help them choose and apply these tools effectively and to tap development practitioners and experts worldwide. GDLN Affiliates facilitate around 1000 video conference-based activities a year on behalf of their clients, reaching some 90,000 people worldwide. Most of these activities bring together participants in two or more countries over a series of sessions. A majority of GDLN activities are organized by small government agencies and NGOs.
| |
| | |
| ====GDLN Asia Pacific====
| |
| The GDLN in the East Asia and Pacific region has experienced rapid growth and Distance Learning Centers now operate or are planned in 20 countries: Australia, Mongolia, Cambodia, China, Indonesia, Singapore, Philippines, Sri Lanka, Japan, Papua New Guinea, South Korea, Thailand, Laos, Timor Leste, Fiji, Afghanistan, Bangladesh, India, Nepal, and New Zealand. With over 180 Distance Learning Centers, it is the largest development learning network in the Asia and Pacific region. The Secretariat Office of GDLN Asia Pacific is located in the Center of Academic Resources of Chulalongkorn University, Bangkok, Thailand.
| |
| | |
| GDLN Asia Pacific was launched at the GDLN's East Asia and Pacific regional meeting held in Bangkok from 22 to 24 May 2006. Its vision is to become "the premier network exchanging ideas, experience and know-how across the Asia Pacific Region". GDLN Asia Pacific is a separate entity to The World Bank. It has endorsed its own Charter and Business Plan and, in accordance with the Charter, a GDLN Asia Pacific Governing Committee has been appointed.
| |
| | |
| The committee comprises China (2), Australia (1), Thailand (1), The World Bank (1), and finally, a nominee of the Government of Japan (1). The organization is currently hosted by Chulalongkorn University in Bangkok, Thailand, a founding member of the GDLN Asia Pacific.
| |
| | |
| The Governing Committee has determined that the most appropriate legal status for the GDLN AP in Thailand is a "Foundation". The World Bank is engaging a solicitor in Thailand to process all documentation in order to obtain this status.
| |
| | |
| GDLN Asia Pacific is built on the principle of shared resources among partners engaged in a common task, and this is visible in the organizational structures that exist, as the network evolves. Physical space for its headquarters is provided by the host of the GDLN Centre in Thailand – Chulalongkorn University; Technical expertise and some infrastructure is provided by the Tokyo Development Learning Centre (TDLC); Fiduciary services are provided by Australian National University (ANU) Until the GDLN Asia Pacific is established as a legal entity in Thailand, ANU, has offered to assist the governing committee, by providing a means of managing the inflow and outflow of funds and of reporting on them. This admittedly results in some complexity in contracting arrangements, which need to be worked out on a case-by-case basis and depends to some extent on the legal requirements of the countries involved.
| |
| | |
| ===JUSTPAL Network===
| |
| A Justice Sector Peer-Assisted Learning (JUSTPAL) Network was launched in April 2011 by the Poverty Reduction and Economic Management (PREM) Department of the World Bank's Europe and Central Asia (ECA) Region. JUSTPAL's objective is to provide an online and offline platform for justice professionals to exchange knowledge, good practices, and peer-driven improvements to justice systems and thereby support countries to improve their justice sector performance, quality of justice, and service delivery to citizens and businesses.
| |
| | |
| The JUSTPAL Network includes representatives of judiciaries, ministries of justice, prosecutors, anti-corruption agencies, and other justice-related entities from across the globe. It has active members from more than 50 countries.
| |
| | |
| To facilitate fruitful exchange of reform experiences and sharing of applicable good practices, JUSTPAL has organized its activities under five Communities of Practice (COPs): Budgeting for the Justice Sector; Information Systems for Justice Services; Justice Sector Physical Infrastructure; Court Management and Administration; and Prosecution and Anti-Corruption Agencies.
| |
| | |
| ==Country assistance strategies==
| |
| As a guideline to the World Bank's operations in any particular country, a Country Assistance Strategy is produced in cooperation with the local government and any interested stakeholders and may rely on analytical work performed by the Bank or other parties.
| |
| | |
| ==Multi-Donor Trust Fund==
| |
| Another programme is the Multi-Donor Trust Fund.<ref name="mdtfu">{{cite news |title=World Bank Announces Additional $1.49 Billion Financing Support for Ukraine |url=https://www.worldbank.org/en/news/press-release/2022/06/07/-world-bank-announces-additional-1-49-billion-financing-support-for-ukraine |publisher=The World Bank Group }}</ref>
| |
| | |
| ==Clean Air Initiative==
| |
| Clean Air Initiative (CAI) is a World Bank initiative to advance innovative ways to improve air quality in cities through partnerships in selected regions of the world by sharing knowledge and experiences. It includes [[electric vehicle]]s.<ref name="Clean Air Initiative 2012">{{cite web | title = About Us | publisher = Clean Air Initiative-Asia Center | author = Clean Air Initiative | url = http://cleanairinitiative.org/portal/aboutus | access-date = 31 May 2010 | archive-url = https://web.archive.org/web/20100625070337/http://cleanairinitiative.org/portal/aboutus | archive-date = 25 June 2010 | url-status=dead | df = dmy-all }}</ref> Initiatives like this help address and tackle [[List of pollution-related diseases|pollution-related diseases]].
| |
| | |
| ==United Nations Development Business==
| |
| Based on an agreement between the United Nations and the World Bank in 1981, ''[[Development Business]]'' became the official source for World Bank Procurement Notices, Contract Awards, and Project Approvals.<ref name="Development Business 2012">{{cite web | title = About Us | publisher = United Nations | url = http://www.devbusiness.com/DevBusinessViewer.aspx?Content=AboutUNDBPage | access-date = 19 August 2012}}</ref>
| |
| | |
| In 1998, the agreement was renegotiated, and included in this agreement was a joint venture to create an online version of the publication. Today, ''Development Business'' is the primary publication for all major multilateral development banks, U.N. agencies, and several national governments, many of which have made the publication of their tenders and contracts in ''Development Business'' a mandatory requirement.<ref name="Development Business 2012" />
| |
| | |
| The World Bank or the [[World Bank Group]] is also a sitting observer in the [[United Nations Development Group]].<ref name="UN Development Group 2012">{{cite web | title = UNDG Members | publisher = United Nations | author = United Nations Development Group | url = http://www.undg.org/index.cfm?P=13 | access-date = 19 August 2012 | url-status=dead | archive-url = https://web.archive.org/web/20110511144047/http://www.undg.org/index.cfm?P=13 | archive-date = 11 May 2011 | df = dmy-all }}</ref>
| |
| | |
| ==Open data initiative==
| |
| The World Bank collects and processes large amounts of data and generates them on the basis of economic models. These data and models have gradually been made available to the public in a way that encourages reuse,<ref name="Strom 2011">{{Cite news | title = World Bank Is Opening Its Treasure Chest of Data | author = Strom, Stephanie | date = 2 July 2011 | newspaper = The New York Times | url = https://www.nytimes.com/2011/07/03/business/global/03world.html | access-date = 20 August 2012}}</ref> whereas the recent publications describing them are available as [[open access]] under a [[Creative Commons Licenses|Creative Commons Attribution License]], for which the bank received the SPARC Innovator 2012 award.<ref name="SPARC 2012">{{cite web | title = SPARC Innovator: The World Bank | publisher = Association of Research Libraries | author = SPARC | url = http://www.arl.org/sparc/media/World_Bank_SPARC_Innovator.shtml | access-date = 11 July 2012}}</ref>
| |
| | |
| The World Bank also endorses the [[Principles for Digital Development]].<ref>{{cite web|url=http://blogs.worldbank.org/ic4d/why-world-bank-endorses-principles-digital-development|title=Why the World Bank endorses the Principles for Digital Development|first=Samhir|last=Vasdev|website=Information and Communications for Development}}</ref>
| |
| | |
| ==Grants table==
| |
| | |
| The following table lists the top 15 DAC 5 Digit Sectors<ref>{{cite web |url=http://iatistandard.org/202/codelists/Sector/ |title=DAC 5 Digit Sector |publisher=The IATI Standard |access-date=4 September 2016}}</ref> to which the World Bank has committed funding, as recorded in its [[International Aid Transparency Initiative]] (IATI) publications. The World Bank states on the IATI Registry website that the amounts "will cover 100% of [[International Bank for Reconstruction and Development|IBRD]] and [[International Development Association|IDA]] development flows" but will not cover other development flows.<ref>{{cite web |url=https://iatiregistry.org/publisher/about/worldbank |title=About - The World Bank - IATI Registry |access-date=4 September 2016}}</ref>
| |
| | |
| {| class="sortable wikitable"
| |
| |-
| |
| !
| |
| ! colspan="12" | Committed funding (US$ millions)
| |
| |-
| |
| ! Sector !! Before 2007 !! 2007 !! 2008 !! 2009 !! 2010 !! 2011 !! 2012 !! 2013 !! 2014 !! 2015 !! 2016 !! Sum
| |
| |-
| |
| | Road transport
| |
| | style="text-align:right;" | 4,654.2
| |
| | style="text-align:right;" | 1,993.5
| |
| | style="text-align:right;" | 1,501.8
| |
| | style="text-align:right;" | 5,550.3
| |
| | style="text-align:right;" | 4,032.3
| |
| | style="text-align:right;" | 2,603.7
| |
| | style="text-align:right;" | 3,852.5
| |
| | style="text-align:right;" | 2,883.6
| |
| | style="text-align:right;" | 3,081.7
| |
| | style="text-align:right;" | 3,922.6
| |
| | style="text-align:right;" | 723.7
| |
| | style="text-align:right;" | 34,799.8
| |
| |-
| |
| | Social/ welfare services
| |
| | style="text-align:right;" | 613.1
| |
| | style="text-align:right;" | 208.1
| |
| | style="text-align:right;" | 185.5
| |
| | style="text-align:right;" | 2,878.4
| |
| | style="text-align:right;" | 1,477.4
| |
| | style="text-align:right;" | 1,493.2
| |
| | style="text-align:right;" | 1,498.5
| |
| | style="text-align:right;" | 2,592.6
| |
| | style="text-align:right;" | 2,745.4
| |
| | style="text-align:right;" | 1,537.7
| |
| | style="text-align:right;" | 73.6
| |
| | style="text-align:right;" | 15,303.5
| |
| |-
| |
| | Electrical transmission/ distribution
| |
| | style="text-align:right;" | 1,292.5
| |
| | style="text-align:right;" | 862.1
| |
| | style="text-align:right;" | 1,740.2
| |
| | style="text-align:right;" | 2,435.4
| |
| | style="text-align:right;" | 1,465.1
| |
| | style="text-align:right;" | 907.7
| |
| | style="text-align:right;" | 1,614.9
| |
| | style="text-align:right;" | 395.7
| |
| | style="text-align:right;" | 2,457.1
| |
| | style="text-align:right;" | 1,632.2
| |
| | style="text-align:right;" | 374.8
| |
| | style="text-align:right;" | 15,177.8
| |
| |-
| |
| | Public finance management
| |
| | style="text-align:right;" | 334.2
| |
| | style="text-align:right;" | 223.1
| |
| | style="text-align:right;" | 499.7
| |
| | style="text-align:right;" | 129.0
| |
| | style="text-align:right;" | 455.3
| |
| | style="text-align:right;" | 346.6
| |
| | style="text-align:right;" | 3,156.8
| |
| | style="text-align:right;" | 2,724.0
| |
| | style="text-align:right;" | 3,160.5
| |
| | style="text-align:right;" | 2,438.9
| |
| | style="text-align:right;" | 690.5
| |
| | style="text-align:right;" | 14,158.6
| |
| |-
| |
| | Rail transport
| |
| | style="text-align:right;" | 279.3
| |
| | style="text-align:right;" | 284.4
| |
| | style="text-align:right;" | 1,289.0
| |
| | style="text-align:right;" | 912.2
| |
| | style="text-align:right;" | 892.5
| |
| | style="text-align:right;" | 1,487.4
| |
| | style="text-align:right;" | 841.8
| |
| | style="text-align:right;" | 740.6
| |
| | style="text-align:right;" | 1,964.9
| |
| | style="text-align:right;" | 1,172.2
| |
| | style="text-align:right;" | −1.6
| |
| | style="text-align:right;" | 9,862.5
| |
| |-
| |
| | Rural development
| |
| | style="text-align:right;" | 335.4
| |
| | style="text-align:right;" | 237.5
| |
| | style="text-align:right;" | 382.8
| |
| | style="text-align:right;" | 616.7
| |
| | style="text-align:right;" | 2,317.4
| |
| | style="text-align:right;" | 972.0
| |
| | style="text-align:right;" | 944.0
| |
| | style="text-align:right;" | 177.8
| |
| | style="text-align:right;" | 380.9
| |
| | style="text-align:right;" | 1,090.3
| |
| | style="text-align:right;" | −2.5
| |
| | style="text-align:right;" | 7,452.4
| |
| |-
| |
| | Urban development and management
| |
| | style="text-align:right;" | 261.2
| |
| | style="text-align:right;" | 375.9
| |
| | style="text-align:right;" | 733.3
| |
| | style="text-align:right;" | 739.6
| |
| | style="text-align:right;" | 542.1
| |
| | style="text-align:right;" | 1,308.1
| |
| | style="text-align:right;" | 914.3
| |
| | style="text-align:right;" | 258.9
| |
| | style="text-align:right;" | 747.3
| |
| | style="text-align:right;" | 1,122.1
| |
| | style="text-align:right;" | 212.2
| |
| | style="text-align:right;" | 7,214.9
| |
| |-
| |
| | Business support services and institutions
| |
| | style="text-align:right;" | 113.3
| |
| | style="text-align:right;" | 20.8
| |
| | style="text-align:right;" | 721.7
| |
| | style="text-align:right;" | 181.4
| |
| | style="text-align:right;" | 363.3
| |
| | style="text-align:right;" | 514.0
| |
| | style="text-align:right;" | 310.0
| |
| | style="text-align:right;" | 760.1
| |
| | style="text-align:right;" | 1,281.9
| |
| | style="text-align:right;" | 1,996.0
| |
| | style="text-align:right;" | 491.3
| |
| | style="text-align:right;" | 6,753.7
| |
| |-
| |
| | Energy policy and administrative management
| |
| | style="text-align:right;" | 102.5
| |
| | style="text-align:right;" | 243.0
| |
| | style="text-align:right;" | 324.9
| |
| | style="text-align:right;" | 234.2
| |
| | style="text-align:right;" | 762.0
| |
| | style="text-align:right;" | 654.9
| |
| | style="text-align:right;" | 902.1
| |
| | style="text-align:right;" | 480.5
| |
| | style="text-align:right;" | 1,594.2
| |
| | style="text-align:right;" | 1,001.8
| |
| | style="text-align:right;" | 347.9
| |
| | style="text-align:right;" | 6,648.0
| |
| |-
| |
| | Agricultural water resources
| |
| | style="text-align:right;" | 733.2
| |
| | style="text-align:right;" | 749.5
| |
| | style="text-align:right;" | 84.6
| |
| | style="text-align:right;" | 251.8
| |
| | style="text-align:right;" | 780.6
| |
| | style="text-align:right;" | 819.5
| |
| | style="text-align:right;" | 618.3
| |
| | style="text-align:right;" | 1,040.3
| |
| | style="text-align:right;" | 1,214.8
| |
| | style="text-align:right;" | 824.0
| |
| | style="text-align:right;" | −105.8
| |
| | style="text-align:right;" | 7,011.0
| |
| |-
| |
| | Decentralisation and support to subnational government
| |
| | style="text-align:right;" | 904.5
| |
| | style="text-align:right;" | 107.9
| |
| | style="text-align:right;" | 176.1
| |
| | style="text-align:right;" | 206.7
| |
| | style="text-align:right;" | 331.2
| |
| | style="text-align:right;" | 852.8
| |
| | style="text-align:right;" | 880.6
| |
| | style="text-align:right;" | 466.8
| |
| | style="text-align:right;" | 1,417.0
| |
| | style="text-align:right;" | 432.5
| |
| | style="text-align:right;" | 821.3
| |
| | style="text-align:right;" | 6,597.3
| |
| |-
| |
| | Disaster prevention and preparedness
| |
| | style="text-align:right;" | 66.9
| |
| | style="text-align:right;" | 2.7
| |
| | style="text-align:right;" | 260.0
| |
| | style="text-align:right;" | 9.0
| |
| | style="text-align:right;" | 417.2
| |
| | style="text-align:right;" | 609.5
| |
| | style="text-align:right;" | 852.9
| |
| | style="text-align:right;" | 373.5
| |
| | style="text-align:right;" | 1,267.8
| |
| | style="text-align:right;" | 1,759.7
| |
| | style="text-align:right;" | 114.2
| |
| | style="text-align:right;" | 5,733.5
| |
| |-
| |
| | Sanitation - large systems
| |
| | style="text-align:right;" | 441.9
| |
| | style="text-align:right;" | 679.7
| |
| | style="text-align:right;" | 521.6
| |
| | style="text-align:right;" | 422.0
| |
| | style="text-align:right;" | 613.1
| |
| | style="text-align:right;" | 1,209.4
| |
| | style="text-align:right;" | 268.0
| |
| | style="text-align:right;" | 55.4
| |
| | style="text-align:right;" | 890.6
| |
| | style="text-align:right;" | 900.8
| |
| | style="text-align:right;" | 93.9
| |
| | style="text-align:right;" | 6,096.3
| |
| |-
| |
| | Water supply - large systems
| |
| | style="text-align:right;" | 646.5
| |
| | style="text-align:right;" | 438.1
| |
| | style="text-align:right;" | 298.3
| |
| | style="text-align:right;" | 486.5
| |
| | style="text-align:right;" | 845.1
| |
| | style="text-align:right;" | 640.2
| |
| | style="text-align:right;" | 469.0
| |
| | style="text-align:right;" | 250.5
| |
| | style="text-align:right;" | 1,332.4
| |
| | style="text-align:right;" | 609.9
| |
| | style="text-align:right;" | 224.7
| |
| | style="text-align:right;" | 6,241.3
| |
| |-
| |
| | Health policy and administrative management
| |
| | style="text-align:right;" | 661.3
| |
| | style="text-align:right;" | 54.8
| |
| | style="text-align:right;" | 285.8
| |
| | style="text-align:right;" | 673.8
| |
| | style="text-align:right;" | 1,581.4
| |
| | style="text-align:right;" | 799.3
| |
| | style="text-align:right;" | 251.5
| |
| | style="text-align:right;" | 426.3
| |
| | style="text-align:right;" | 154.8
| |
| | style="text-align:right;" | 368.1
| |
| | style="text-align:right;" | 496.0
| |
| | style="text-align:right;" | 5,753.1
| |
| |-
| |
| ! Other
| |
| ! style="text-align:right;" | 13,162.7
| |
| ! style="text-align:right;" | 6,588.3
| |
| ! style="text-align:right;" | 8,707.1
| |
| ! style="text-align:right;" | 11,425.7
| |
| ! style="text-align:right;" | 17,099.5
| |
| ! style="text-align:right;" | 11,096.6
| |
| ! style="text-align:right;" | 16,873.4
| |
| ! style="text-align:right;" | 13,967.1
| |
| ! style="text-align:right;" | 20,057.6
| |
| ! style="text-align:right;" | 21,096.5
| |
| ! style="text-align:right;" | 3,070.3
| |
| ! style="text-align:right;" | 140,074.5
| |
| |-
| |
| ! Total
| |
| ! style="text-align:right;" | 24,602.6
| |
| ! style="text-align:right;" | 13,069.4
| |
| ! style="text-align:right;" | 17,712.6
| |
| ! style="text-align:right;" | 27,152.6
| |
| ! style="text-align:right;" | 33,975.6
| |
| ! style="text-align:right;" | 26,314.8
| |
| ! style="text-align:right;" | 34,248.6
| |
| ! style="text-align:right;" | 27,593.9
| |
| ! style="text-align:right;" | 43,748.8
| |
| ! style="text-align:right;" | 41,905.2
| |
| ! style="text-align:right;" | 7,624.5
| |
| ! style="text-align:right;" | 297,948.5
| |
| |}
| |
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| ==Open Knowledge Repository==
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| {{main|Open Knowledge Repository}}
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| The World Bank hosts the Open Knowledge Repository (OKR)<ref>{{cite web | url=https://openknowledge.worldbank.org | title=Open Knowledge Repository (OKR) | publisher=World Bank | access-date=22 October 2013}}</ref> as an official open access repository for its research outputs and knowledge products. The World Bank's repository is listed in the [[Registry of Research Data Repositories]] re3data.org.<ref>{{cite web|title=World Bank Entry in re3data.org|url=http://service.re3data.org/repository/r3d100000042|website=www.re3data.org|access-date=21 July 2014}}</ref>
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| ==Criticisms and controversy{{anchor|Criticisms}}==
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| The World Bank has long been criticized by non-governmental organizations, such as the indigenous rights group [[Survival International]], and academics, including [[Henry Hazlitt]], [[Ludwig Von Mises]], and its former Chief Economist [[Joseph Stiglitz]].<ref name="Stiglitz 2003a">{{Cite book | title = The Roaring Nineties: A New History of the World's Most Prosperous Decade | author = Stiglitz, Joseph E. | year = 2003 | publisher = W. W. Norton & Company | location = New York, NY | isbn = 978-0-393-05852-9 | url = https://archive.org/details/roaringninetiesn00stig }}</ref><ref name="Stiglitz 2003b">{{Cite book | title = Globalization and Its Discontents | author = Stiglitz, Joseph E. | year = 2003 | publisher = W. W. Norton & Company | location = New York, NY | isbn = 978-0-393-32439-6 | url = https://archive.org/details/globalizationits00stig_0 }}</ref><ref name="Stiglitz 2007">{{Cite book | title = Making Globalization Work | author = Stiglitz, Joseph E. | year = 2007 | publisher = W. W. Norton & Company | location = New York, NY | isbn = 978-0-393-33028-1 | url = https://archive.org/details/makingglobalizat00stig }}</ref> Hazlitt argued that the World Bank along with the monetary system it was designed within would promote world inflation and "a world in which international trade is State-dominated" when they were being advocated.<ref name="Hazlitt 1984">{{Cite book | title = From Bretton Woods to World Inflation: A Study of the Causes and Consequences | author = Hazlitt, Henry | year = 1984 | publisher = Regnery Publishing | location = Washington, D.C. | isbn = 978-0-89526-617-0}}</ref> Stiglitz argued that the [[free market]] reform policies that the Bank advocates are often harmful to [[economic development]] if implemented badly, too quickly ("[[shock therapy (economics)|shock therapy]]"), in the wrong sequence or in weak, uncompetitive economies.<ref name="Stiglitz 2003b" /><ref name="Schneider 2002">{{Cite encyclopedia | title = World Markets: Anthropological Perspectives | author = Schneider, Jane | encyclopedia = Exotic No More: Anthropology on the Front Lines | editor = MacClancy, Jeremy | year = 2002 | publisher = University of Chicago Press | location = Chicago, IL | isbn = 978-0-226-50013-3 | url = https://archive.org/details/exoticnomoreanth00macc }}</ref>
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| One of the most common criticisms of the World Bank has been the way it is governed. While the World Bank represents 188 countries, it is run by a small number of economically powerful countries. These countries (which also provide most of the institution's funding) choose the Bank's leadership and senior management, and their interests dominate.<ref name="Woods 2007">{{Cite book | title = The Globalizers: The IMF, the World Bank, and Their Borrowers | author = Woods, Ngaire | year = 2007 | publisher = Cornell University Press | location = Ithaca, NY | isbn = 978-0-8014-7420-0}}</ref>{{rp|190}} Titus Alexander argues that the unequal voting power of western countries and the World Bank's role in developing countries makes it similar to the South African Development Bank under apartheid, and therefore a pillar of [[global apartheid]].<ref name="Alexander 1996">{{Cite book | title = Unravelling Global Apartheid: An Overview of World Politics | author = Alexander, Titus | year = 1996 | publisher = Polity | location = Cambridge, UK | isbn = 978-0-7456-1352-9 | url-access = registration | url = https://archive.org/details/unravellinggloba0000alex }}</ref>{{rp|133–141}}
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| In the 1990s, the World Bank and the IMF forged the [[Washington Consensus]], policies that included [[deregulation]] and liberalization of markets, [[privatization]] and the [[civil service reform in developing countries|downscaling of government]]. Though the Washington Consensus was conceived as a policy that would best promote development, it was criticized for ignoring equity, employment, and how reforms like privatization were carried out. Stiglitz argued that the Washington Consensus placed too much emphasis on GDP growth and not enough on the permanence of growth or on whether growth contributed to better living standards.<ref name="Stiglitz 2007" />{{rp|17}}
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| The [[United States Senate Committee on Foreign Relations]] report criticized the World Bank and other international financial institutions for focusing too much "on issuing loans rather than on achieving concrete development results within a finite period of time" and called on the institution to "strengthen anti-corruption efforts".<ref name="Committee on Foreign Relations 2010">{{Cite report | title = The International Financial Institutions: A Call For Change | publisher = U.S. Government Printing Office | date = 2010 | author = Committee on Foreign Relations, United States Senate, 111th Congress | url = http://www.foreign.senate.gov/imo/media/doc/55285.pdf | access-date = 20 August 2012}}</ref>
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| [[James Ferguson (anthropologist)|James Ferguson]] has argued that the main effect of many development projects carried out by the World Bank and similar organizations is not the alleviation of poverty. Instead, the projects often serve to expand the exercise of bureaucratic state power. His case studies of development projects in [[Thaba-Tseka District|Thaba-Tseka]] show that the World Bank's characterization of the economic conditions in [[Lesotho]] was flawed, and the Bank ignored the political and cultural character of the state in crafting its projects. As a result, the projects failed to help the poor but succeeded in expanding the government bureaucracy.<ref>{{Cite journal|last1=Ferguson|first1=James|last2=Lohmann|first2=Larry|title=The Anti-Politics Machine|url=http://stuz-muk.de/wp-content/uploads/2014/07/Ferguson-The-Anti-Politics-Machine.pdf|journal=The Ecologist|volume=24|issue=5|pages=176–181|access-date=13 April 2017|archive-date=16 May 2019|archive-url=https://web.archive.org/web/20190516125652/http://stuz-muk.de/wp-content/uploads/2014/07/Ferguson-The-Anti-Politics-Machine.pdf|url-status=dead}}</ref>
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| Criticism of the World Bank and other organizations often takes the form of [[protesting]], such as the [[World Bank Oslo 2002 Protests]],<ref name="Gibbs 2002">{{Cite news | title = Europe: Norway: Protests As World Bank Meets | author = Gibbs, Walter | date = 25 June 2002 | newspaper = The New York Times | url = https://www.nytimes.com/2002/06/25/world/world-briefing-europe-norway-protests-as-world-bank-meets.html | access-date = 20 August 2012}}</ref> the 2007 [[October Rebellion]],<ref name="Williams & Ruane 2007">{{Cite news | title = Violence Erupts at Protest in Georgetown | author = Williams, Clarence | author2 = Ruane, Michael E. | date = 20 October 2007 | newspaper = The Washington Post | url = https://www.washingtonpost.com/wp-dyn/content/article/2007/10/19/AR2007101901728.html | access-date = 30 May 2008}}</ref> and the 1999 [[World Trade Organization Ministerial Conference of 1999 protest activity|Battle of Seattle]].<ref name="Wilson 1999">{{Cite news | title = Embattled police chief resigns | author = Wilson, Kimberly A.C. | date = 7 December 1999 | newspaper = Seattle Post-Intelligencer | url = http://www.iatp.org/news/embattled-police-chief-resigns | access-date = 19 May 2008}}</ref> Such demonstrations have occurred all over the world, even among the Brazilian [[Kayapo people]].<ref name="Clendenning 2008">{{cite magazine | title = Amazon Indians Attack Official Over Dam Project | author = Clendenning, Alan | date = 21 May 2008 | agency = Associated Press | magazine = National Geographic | url = http://news.nationalgeographic.com/news/2008/05/080521-AP-indians-dam.html | access-date = 21 May 2008}}</ref>
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| Another source of criticism has been the tradition of having an American head the bank, implemented because the United States provides the majority of World Bank funding. "When economists from the World Bank visit poor countries to dispense cash and advice," observed ''[[The Economist]]'' in 2012, "they routinely tell governments to reject [[cronyism]] and fill each important job with the best candidate available. It is good advice. The World Bank should take it."<ref name="The Economist 2012">{{Cite news | title = Hats off to Ngozi | date = 31 March 2012 | newspaper = The Economist | url = https://www.economist.com/node/21551490 | access-date = 2 April 2012}}</ref>
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| In 2021, an independent inquiry of the World Bank's ''Doing Business'' reports by the law firm [[Wilmer_Cutler_Pickering_Hale_and_Dorr|WilmerHale]] found that World Bank leaders, including then-Chief Executive [[Kristalina Georgieva]] and then-President [[Jim Yong Kim]],<ref>{{cite news |title=Inquiry puts ex-World Bank officials under scrutiny on China |url=https://apnews.com/article/business-china-world-bank-jim-yong-kim-aee690d7ec87d9bbd4d36cc5fcfa7018 |work=AP News }}</ref> pressured staff members of the bank to alter data to inflate the rankings for [[China]], [[Saudi Arabia]], [[Azerbaijan]] and the [[United Arab Emirates]].<ref>{{cite news |title=Probe finds World Bank changed data to boost China ranking |url=https://www.aljazeera.com/economy/2021/9/17/probe-finds-world-bank-changed-data-to-boost-china-ranking |work=Al-Jazeera }}</ref><ref>{{cite news |title=Investigation finds World Bank leaders pushed staffers to boost rankings for China and Saudi Arabia in high-profile reports |url=https://edition.cnn.com/2021/09/17/business/world-bank-investigation/index.html |work=CNN }}</ref>
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| ===Structural adjustment===
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| The effect of [[structural adjustment]] policies on poor countries has been one of the most significant criticisms of the World Bank.<ref>{{cite book|last=Graeber|first=David|author-link=David Graeber|title=Direct Action: An Ethnography|publisher=[[AK Press]]|pages=442–443|isbn=978-1-904859-79-6|year=2009}}</ref> The [[1979 energy crisis]] plunged many countries into economic crisis.<ref name="deVries 1996">{{Cite encyclopedia | title = The World Bank's Focus on Poverty | author = deVries, Barend A. | encyclopedia = The World Bank: Lending on a Global Scale | editor = Griesgraber, Jo Marie | editor2 = Gunter, Bernhard G. | year = 1996 | publisher = Pluto Press | location = London, UK | isbn = 978-0-7453-1049-7}}</ref>{{rp|68}} The World Bank responded with [[structural adjustment loan]]s, which distributed aid to struggling countries while enforcing policy changes in order to reduce inflation and fiscal imbalance. Some of these policies included encouraging [[production (economics)|production]], investment and labour-intensive manufacturing, changing real [[exchange rates]], and altering the distribution of government resources. Structural adjustment policies were most effective in countries with an institutional framework that allowed these policies to be implemented easily. For some countries, particularly in [[Sub-Saharan Africa]], economic growth regressed and inflation worsened.
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| By the late 1980s, some international organizations began to believe that structural adjustment policies were worsening life for the world's poor, due to a reduction in social spending and an increase in the price of food, as subsidies were lifted. The World Bank changed structural adjustment loans, allowing for social spending to be maintained, and encouraging a slower change to policies such as transfer of subsidies and price rises.<ref name="deVries 1996" />{{rp|70}} In 1999, the World Bank and the IMF introduced the Poverty Reduction Strategy Paper approach to replace structural adjustment loans.<ref name="Tan 2007">{{Cite encyclopedia | title = The poverty of amnesia: PRSPs in the legacy of structural adjustment | author = Tan, Celine | encyclopedia = The World Bank and Governance: A Decade of Reform and Reaction | editor = Stone, Diane | editor2 = Wright, Christopher | year = 2007 | publisher = Routledge | location = New York, NY | isbn = 978-0-415-41282-7}}</ref>{{rp|147}}
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| ===Fairness of assistance conditions===
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| Some critics,<ref>{{cite web | url=http://www.wdm.org.uk/sites/default/files/treacherousconditions07052003.pdf | title=Treacherous conditions: How IMF and World Bank policies tied to debt relief are undermining development | publisher=World Development Movement | year=2003 | access-date=12 May 2013 | author=Hardstaff, Peter | archive-date=29 March 2014 | archive-url=https://web.archive.org/web/20140329034727/http://www.wdm.org.uk/sites/default/files/treacherousconditions07052003.pdf | url-status=dead }}</ref> most prominently the author [[Naomi Klein]], are of the opinion that the World Bank Group's loans and aid have unfair conditions attached to them that reflect the interests, financial power and political doctrines (notably the [[Washington Consensus]]) of the Bank and the countries that are most influential within it. Among other allegations, Klein says the Group's credibility was damaged "when it forced school fees on students in Ghana in exchange for a loan; when it demanded that Tanzania privatise its water system; when it made telecom privatisation a condition of aid for Hurricane Mitch; when it demanded labour 'flexibility' in Sri Lanka in the aftermath of the Asian tsunami; when it pushed for eliminating food subsidies in post-invasion Iraq".<ref>{{cite news | url=https://www.theguardian.com/commentisfree/2007/apr/27/comment.business | title=The World Bank has the perfect standard bearer | newspaper=The Guardian | date=27 April 2007 | access-date=12 May 2013 | author=Klein, Naomi}}</ref>
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| A study of the period 1970-2004 found that a less-developed country would on average receive more World Bank projects during any period when it occupied one of the rotating seats on the UN Security Council.<ref>{{Cite journal|last1=Dreher|first1=Axel|last2=Sturm|first2=Jan-Egbert|last3=Vreeland|first3=James Raymond|title=Development aid and international politics: Does membership on the UN Security Council influence World Bank decisions?|url=https://www.sciencedirect.com/science/article/pii/S0304387808000187|journal=Journal of Development Economics|language=en|volume=88|issue=1|pages=1–18|doi=10.1016/j.jdeveco.2008.02.003|issn=0304-3878|hdl=10419/50418|hdl-access=free}}</ref>
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| ===Sovereign immunity===
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| The World Bank requires [[sovereign immunity]] from countries it deals with.<ref name="IFI Watch 2004">{{Cite journal | title = The World Bank and the Question of Immunity | journal = IFI Watch – Bangladesh | volume = 1 | issue = 1 | year = 2004 | pages = 1–10 | author = IFI Watch | url = http://www.unnayan.org/Other/IFI_Watch_Bangladesh_Vol_1%20No_1.pdf | access-date = 4 September 2004 | archive-date = 8 November 2004 | archive-url = https://web.archive.org/web/20041108100213/http://www.unnayan.org/Other/IFI_Watch_Bangladesh_Vol_1%20No_1.pdf | url-status = dead }}</ref><ref name="World Bank Sovereign Immunity 2007">{{Cite report | title = Sovereign Immunity | publisher = World Bank Group | date = 2007 | author = World Bank | url = http://siteresources.worldbank.org/INTINFANDLAW/Resources/sovereignimmunity.pdf | access-date = 20 August 2012}}</ref><ref name="Hasson 2002">{{Cite journal | title = Extraterritorial Jurisdiction and Sovereign Immunity on Trial: Noriega, Pinochet, and Milosevic – Trends in Political Accountability and Transnational Criminal Law | journal = Boston College International and Comparative Law Review | volume = 25 | issue = 1 | year = 2002 | pages = 125–158 | author = Hasson, Adam Isaac | url = http://lawdigitalcommons.bc.edu/iclr/vol25/iss1/6/ | access-date = 25 April 2012}}</ref> Sovereign immunity waives a holder from all legal liability for their actions. It is proposed that this immunity from responsibility is a "shield which The World Bank wants to resort to, for escaping accountability and security by the people".<ref name="IFI Watch 2004"/> As the United States has veto power, it can prevent the World Bank from taking action against its interests.<ref name="IFI Watch 2004"/>
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| ===PricewaterhouseCoopers===
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| World Bank favored [[PricewaterhouseCoopers]] as a consultant in a bid for privatizing the water distribution in [[Delhi]], India.<ref>{{cite web|title=WB channels Delhi water for PWC|website=[[The Times of India]]|url=http://timesofindia.indiatimes.com/city/delhi/WB-channels-Delhi-water-for-PwC/articleshow/1185933.cms}}</ref>
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| === COVID-19 ===
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| The World Bank has been criticized for the slow response of its [[Pandemic Emergency Financing Facility]] (PEF), a fund that was created to provide money to help manage pandemic outbreaks. The terms of the PEF, which is financed by bonds sold to private investors, prevent any money from being released from the fund until 12 weeks after the outbreak was initially detected (23 March). The [[COVID-19 pandemic]] met all other requirements for the funding to be released in January 2020.<ref>{{cite news|url=https://www.ft.com/content/70dd05ac-54d8-11ea-8841-482eed0038b1|work=Financial Times|title=World Bank's pandemic bonds sink as coronavirus spreads|access-date=4 March 2020|first=Anna|last=Gross | name-list-style = vanc }}</ref>
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| Critics have argued that the terms of the PEF are too stringent, and the 12-week delay means that the funding will be much less effective than if it was released to assist governments in initially containing the outbreak. They argue that the fund prioritizes the interests of the private bondholders over public health.<ref>{{cite web|url=https://www.france24.com/en/20200226-coronavirus-pandemic-bonds|publisher=France 24|title='Useless' pandemic bonds offer little hope for dealing with coronavirus|first=Sébastian|last=Seibt| name-list-style = vanc |access-date=4 March 2020}}</ref>
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| === Cronyism ===
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| In May 2023, British newspaper [[The Guardian|''The Guardian'']] reported leaked recordings from some World Bank staff referring to Robert Malpass, the son of the institution's president [[David Malpass]], as a "prince" and an "important little fellow" who could go "running to daddy" if things went wrong. Malpass served as undersecretary of the [[United States Department of the Treasury|US Treasury]] in the [[Presidency of Donald Trump|Trump administration]] before being appointed by Trump in February 2019 to be World Bank's president. Before Malpass became president, his son Robert had joined the [[International Finance Corporation]] (IFC), a branch of the World Bank Group that lends money to private sector businesses and whose [[United States dollar|USD]] 5.5 billion funding from a USD 13 billion World Bank capital increase was secured by the US Treasury at the time that David Malpass was the Treasury's undersecretary.<ref>{{Cite news |last=Makortoff |first=Kalyeena |last2=correspondent |first2=Kalyeena Makortoff Banking |title=World Bank staff were told to give special treatment to son of Trump official |language=en-GB |work=The Guardian |url=https://www.theguardian.com/business/2023/apr/12/world-bank-staff-son-of-trump-official-david-malpass |access-date=2023-05-09 |issn=0261-3077}}</ref>
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| ==See also==
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| {{Portal|Banks|Business}}
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| * [[Clean Energy for Development Investment Framework]]
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| * [[Democracy Index]]
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| * [[Energy Sector Management Assistance Program]] (ESMAP)
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| * [[International Finance Corporation]]
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| * [[New Development Bank]]
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| * [[The Swiss constituency]]
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| ==References==
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| {{reflist}}
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| ==Further reading==
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| {{Library resources box}}
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| * Ascher, W. "New development approaches and the adaptability of international agencies: the case of the World Bank" ''International Organization'' 1983. 37, 415–439.
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| * Bazbauers, Adrian Robert. ''The World Bank and Transferring Development'' (Springer, 2018).
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| * Bergsen, H., Lunde, L., ''Dinosaurs or Dynamos? The United Nations and the World Bank at the Turn of the Century.'' (Earthscan, London, 1999).
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| * Bilbert, C., and C. Vines, eds. ''The World Bank: Structures and Policies'' (Cambridge UP, 2000)
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| * Brown, Michael Barratt. ''Africa's choices: after thirty years of the World Bank'' (Routledge, 2019).
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| * Davis, Gloria. ''A history of the social development network in The World Bank, 1973-2003'' (The World Bank, 2004).
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| * Heldt, Eugénia C., and Henning Schmidtke. "Explaining coherence in international regime complexes: How the World Bank shapes the field of multilateral development finance." ''Review of International Political Economy'' (2019): 1–27. [https://www.tandfonline.com/doi/full/10.1080/09692290.2019.1631205 online]
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| * Heyneman, Stephen P. "The history and problems in the making of education policy at the World Bank, 1960–2000." ''International Journal of Educational Development'' 23 (2003) 315–337
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| * Hurni, Bettina S. ''The Lending Policy Of The World Bank In The 1970s'' (1980)
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| * Mason, Edward S., and Robert E. Asher. ''The world bank since Bretton Woods'' (Brookings Institution Press, 2010).
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| * Pereira, João Márcio Mendes. "The World Bank as a political, intellectual, and financial actor (1944-1994)." ''Relaciones Internacionales'' 26.52 (2017): [https://revistas.unlp.edu.ar/RRII-IRI/article/download/2179/3594 online in English]
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| * Pereira, João Márcio Mendes. "Assaulting Poverty: Politics and Economic Doctrine in the History of the World Bank (1944-2014)." ''Revista De História'' 174 (2016): 235–265. [http://www.scielo.br/scielo.php?pid=S0034-83092016000100235&script=sci_arttext online]
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| * Polak, Jacques J., and James M. Boughton. "The World Bank and the International Monetary Fund: A Changing Relationship." in ''Economic Theory and Financial Policy'' (Routledge, 2016) pp. 92–146.
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| * Salda, Anne C. M., ed. ''Historical dictionary of the World Bank'' (1997)
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| *Weaver, Catherine. 2008. ''Hypocrisy Trap: The World Bank and the Poverty of Reform''. Princeton University Press.
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| * Woods, Ngaire. ''The globalizers: the IMF, the World Bank, and their borrowers'' (Cornell UP, 2014).
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| * World Bank. ''A Guide to the World Bank'' (2nd ed. 2007) [https://www.questia.com/library/119807900/a-guide-to-the-world-bank online]
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| ==External links==
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| * {{Official website|https://www.worldbank.org/}}
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| * [https://www.worldbank.org/en/about/what-we-do/brief/ibrd IBRD main page]
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| * [https://www.worldbank.org/ida/ IDA main page]
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| {{World Bank}}
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| {{Economics}}
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| {{Humanitarian partners of the European Commission}}
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| [[Category:World Bank| ]]
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| [[Category:World Bank Group| ]]
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| [[Category:1944 in economics]]
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| [[Category:Carbon finance]]
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| [[Category:International economic organizations]]
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| [[Category:Multilateral development banks]]
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| [[Category:Organizations based in Washington, D.C.]]
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| [[Category:Organizations established in 1944]]
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| [[Category:Supranational banks]]
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| [[Category:United Nations Development Group]]
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