The World Bank

The World Bank is a global organization created in 1944 at the Bretton Woods Conference alongside the International Monetary Fund. The World Bank has two divisions: the International Bank for Reconstruction and Development and the International Development Association. They provide loans and grants, primarily to poorer countries, that are financed by wealthier nations. Currently, they have 184 member countries, and their main goal is to reduce poverty. The World Bank plays an essential role in the global economy and strives to develop countries to benefit from international commerce and improve living standards. Read pages 7-11 and browse the other sections to become familiar with the World Bank's structure and purpose.

Governance of the World Bank Group

Founding Documents

Each of the five institutions of the World Bank Group has its own Articles of Agreement or an equivalent founding document. These documents legally define the institution's purpose, organization, and operations, including the mechanisms by which it is owned and governed. By signing these documents and meeting the requirements set forth in them, a country can become a member of the Bank Group institutions.


Source: World Bank, https://openknowledge.worldbank.org/bitstream/handle/10986/6710/405190Guide0to101OFFICIAL0USE0ONLY1.pdf
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