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An organization that generally supports poor countries for economic development and the fight against poverty
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The World Bank Group ( English : World Bank Group ( WBG )) is an umbrella institution created by 5 international organizations whose aim is to support poor countries by providing loans.
world Bank
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Establishment27 December 1945Typeinternational organizationlegal statusTreatyAimEconomic development , fight against povertyMembers187 countriesMinisterDavid Malpassmain organBoard of directors [1]Official siteworldbank.org
The WBG became a formal entity on 27 December 1945, after the International Convention for the Bretton Woods system was adopted, the agreement that emerged at the United Nations Monetary and Financial Conference (01-22 July 1944).
The institution, which started its activities on June 25, 1946, approved the first loan on May 9, 1947. US$250 million was given to France for post-war reconstruction. The five institutions within the World Bank Group are:
International Bank for Reconstruction and Development (IBRD)
International Development Association (IDA)
International Finance Corporation (IFC)
Multilateral Investment Guarantee Agency (MIGA)
International Center for Settlement of Investment Disputes (ICSID)
The term " World Bank " usually refers only to IBRD and IDA. The World Bank Group (WBG) refers to all five institutions here. [2]
The activities of the World Bank (IBRD and IDA), especially in developing countries , are in areas such as human development (e.g. education, health), agriculture and rural development (e.g. irrigation, village services), environmental protection (e.g. pollution reduction, making and implementing regulations), It focuses on areas such as infrastructure (roads, urban transformation, electricity) and governance (e.g. fight against corruption, developing legal institutions). In addition to IBRD and IDA member countries, preferential loans and grants are also given to poor countries. Loans or grants for specific projects are often linked to broader policy changes in the sector or economy. For example, a loan or grant to improve coastal environmental management may require the implementation of new regulations and the creation of new environmental institutions to limit pollution at the national and local levels.
IFC and MIGA provide private sector investments and insurance respectively.
The World Bank is also an observer of the United Nations Development Group .
Contents
Membershipchange
World Bank Group:
Member countries of the 5 WBG institutions
4 Member countries of the WBG institution
3 Member countries of the WBG institution
2 Member countries of the WBG institution
IBRD member countries only
WBG members according to the number of organizations they participate in are as follows:
