HISTORY OF WORLD BANK

 The World Bank is an International Financial Institution and is a member of the United Nations
development group.
 It was originally established as a single institution in 1994 at Bretton Woods, USA. Its loans
helped European countries rebuild after World War II.
 The idea of the bank was conceived by John Maynard Keynes and Harry White.
 Derives its support from 180 member nations and pitches bond offerings to the world’s capital
markets.
 The bank made its first, general reconstruction loans to France, the Netherlands, Denmark, and
Luxembourg in 1947. Since then, the bank has worked with developing countries such as India
and China on projects that include rail.
 In the 1970s, the Bank shifted its attention to poverty eradication.
 In the 1980s, the Bank continued to enlarge its focus on issues of social development.

 History
 The past 70 years have seen major changes in the world economy.  Over that time, the
World Bank Group—the world’s largest development institution—has worked to help
more than 100 developing countries and countries in transition adjust to these changes
by offering loans and tailored knowledge and advice. The Bank Group works with
country governments, the private sector, civil society organizations, regional
development banks, think tanks, and other international  institutions on issues ranging
from climate change, conflict, and food security to education, agriculture, finance, and
trade. All of these efforts support the Bank Group’s twin goals of ending extreme
poverty by 2030 and boosting shared prosperity of the poorest 40 percent of the
population in all countries. 
 Founded in 1944, the International Bank for Reconstruction and Development—soon
called the World Bank—has expanded to a closely associated group of five
development institutions.  Originally, its loans helped rebuild countries devastated by
World War II.  In time, the focus shifted from reconstruction to development, with a
heavy emphasis on infrastructure such as dams, electrical grids, irrigation systems, and
roads.  With the founding of the International Finance Corporation in 1956, the
institution became able to lend to private companies and financial institutions in
developing countries.  And the founding of the International Development Association in
1960 put greater emphasis on the poorest countries, part of a steady shift toward the
eradication of poverty becoming the Bank Group’s primary goal.  The subsequent
launch of the International Centre for Settlement of Investment Disputes and the
 Multilateral Investment Guarantee Agency further rounded out the Bank Group’s ability
to connect global financial resources to the needs of developing countries. 
 Today the Bank Group’s work touches nearly every sector that is important to fighting
poverty, supporting economic growth, and ensuring sustainable gains in the quality of
people’s lives in developing countries.  While sound project selection and design remain
paramount, the Bank Group recognizes a wide range of factors that are critical to
success—effective institutions, sound policies, continuous learning through evaluation
and knowledge-sharing, and partnership, including with the private sector.  The Bank
Group has long-standing relationships with more than 180 member countries, and it
taps these to address development challenges that are increasingly global.  On critical
issues like climate change, pandemics, and forced migration, the Bank Group plays a
leading role because it is able to convene discussion among its country members and a
wide array of partners.  It can help address crises while building the foundations for
longer-term, sustainable development.
 The evolution of the Bank Group has also been reflected in the diversity of its
multidisciplinary staff, who include economists, public policy experts, sector experts,
and social scientists, based at headquarters in Washington, D.C., and in the field. 
Today, more than a third of staff are based in country offices. 
 As demand for its services has increased over time, the Bank Group has risen to meet
them. For perspective, the World Bank made four loans totaling $497 million in 1947, as
compared to 302 commitments totaling $60 billion in 2015. 

FAQs

 Where is the World Bank? – the headquarter of world Bank is situated in Washington, D.C, USA>
 Who is the current head of the World Bank? – David R. Malpass was elected as 13 th President of
the World Bank Group by its Board of Executive Directors on April 5, 2019.
 Who is the largest contributor to the World Bank? – The United States was a leading force in the
establishment of the International Bank for Reconstruction and Development in 1944 and
remains the largest shareholder of the World Bank Group today.
 Who is the CEO of the World Bank 2021? – Anshula Kant was appointed Managing Director and
World Bank Group Chief Financial Officer on October 7, 2019.
 How many countries are in the World Bank? – there are 189 countries, the only countries that
are not a members of the World Bank are Andorra, Cuba, Liechtenstein, Monaco, and North
Korea.
  Which country has highest loan from World Bank? – since then, India has become the country
with the largest country program and its lending portfolio of the World Bank group inheres of
104 operations with a total volume of $27.1 billion.
 What country has zero debt? – Saudi Arabia has maintained one of the lowest debt-to-GDP
ratios due to its high export rates, which primarily consist of petroleum and petroleum goods.
 How many organization are there in World Bank? – the World Bank group comprises five
constituent institutions: the International Bank for Reconstruction and Development ( IBRD ),
the International Development Association (IDA), the International Finance Corporation (IFC),
the Multilateral Investment Guarantee Agency (MIGA), and the international Centre for
Settlement of Investment Disputes(ICSID).

Overview
The World Bank Group works to accelerate sustainable and inclusive
economic growth across regions and sectors. We play a critical role in building
partnerships and creating new opportunities for the private sector.

Ending poverty and reducing inequality are ambitious goals. But the gap
in funding between what is needed and what is available amounts to trillions
of dollars each year. The only way to spur this level of investment is by
creating new markets and bringing innovative solutions to developing
countries. This is why the private sector must be involved.

Opportunities have never been greater for owners of capital to get a

reasonable return while expanding their investments in developing countries.

But to enter these markets, private investors need better information on

opportunities, and assurance that these present acceptable risks. For their
part, many developing countries need help to attract and manage private
capital. With our global outreach and local presence, the World Bank Group is
a strategic advisor that can help link capital looking for greater returns with
countries seeking to improve the lives of their people. 

Engagement
The World Bank Group has 70 years of experience working with governments
and the private sector around the world. We have long-standing relationships
in 189 countries, an international staff, offices in 140 countries, and deep
expertise across regions and sectors.  We facilitate private investment through
high-impact projects — for example, the Global Infrastructure Facility, which
prepares and structures complex infrastructure public-private partnerships,
and the Climate Change Action Plan to deliver investable projects in clean
energy.  We coordinate closely with other organizations, agencies, and
multilateral institutions that are working with the private sector.

The World Bank Group offers multiple channels and instruments to encourage
the private sector to seek opportunities and engage in developing countries.
These include:

Creating markets and matching opportunities: We help create markets by

identifying new opportunities and unmet demand, sharing this information with
the global business community, and helping governments build an
environment that will open doors to private sector investment. We use a range
of tools to understand country-level needs and risks, including our systematic
country diagnostics. 

Building new markets for companies: Through operations in emerging

markets and in high-risk, fragile, and conflict-affected environments, we have
built considerable risk management expertise to help governments reform and
enable business opportunities. We use technical expertise and financing to
design solutions that link business interests and development impact. We help
businesses successfully navigate new environments and increase their impact
by connecting with local supply chains and strengthening relationships with
local communities. We also offer credit enhancement instruments, political risk
insurance, and payment and loan guarantees, which can be part of a package
enabling new projects and transactions and unlocking better opportunities for
private sector investment.  

Promoting investment opportunities for investors and financial

institutions: We mobilize resources from capital markets, reflecting our
financial strength. We are also working to mobilize additional capital for
the 2030 Agenda, using a range of tools, platforms, and approaches to
mitigate risks in emerging and high-risk markets.

In addition to issuing traditional Triple-A credit-quality products in several

currencies, we offer innovative solutions that support responsible, sustainable
investments while reducing associated risks. We have themed bonds,
including green, social, peace, SDG Index-Linked, and catastrophe bonds.
And in 2016, for the first time, IDA received Triple-A credit ratings, enabling it
to raise money in capital markets to help finance life-changing investments in
the world’s 75 poorest countries – from providing clean water and energy to
creating opportunities for refugees and responding to natural disasters and
health crises.
Building relationships to advance common goals: The World Bank Group
forms alliances with CEOs and global business groups on initiatives that are
of mutual interest and can advance development priorities such as the Carbon
Pricing Leadership Coalition and Invest4Climate. We also partner with
organizations like the World Economic Forum and join other public and private
platforms to promote transformational change.
David R. Malpass (@DavidMalpassWBG), was selected as 13th President of the World
Bank Group by its Board of Executive Directors on April 5, 2019.  His five-year term
began on April 9.

Mr. Malpass previously served as Under Secretary of the Treasury for International
Affairs for the United States. Mr. Malpass represented the United States in international
settings, including the G-7 and G-20 Deputy Finance Ministerial, World Bank–IMF
Spring and Annual Meetings, and meetings of the Financial Stability Board, the
Organization for Economic Cooperation and Development, and the Overseas Private
Investment Corporation.

In 2018, Mr. Malpass advocated for the capital increase for the IBRD and IFC as part of
a reform agenda featuring sustainable lending practices, more efficient use of capital,
and a focus on raising living standards in poor countries. He was also instrumental in
advancing the Debt Transparency Initiative, adopted by the Bank Group and the IMF, to
increase public disclosure of debt and thereby reduce the frequency and severity of
debt crises.

Projects •The World Bank provides low-interest loans, zero to low-interest credits, and grants to
developing countries. •Support a wide array of investments in such areas as education, health, public
administration, infrastructure, financial and private sector development, agriculture, and
environmental and natural resource management. •Cofinanced with governments, other multilateral
institutions, commercial banks, export credit agencies, and private sector investors

Pwede mn amo na lng ni sa purpose or goals. •World Bank promotes long-term economic
development and poverty reduction by providing technical and financial support •Help countries
reform certain sectors or implement specific projects—such as building schools and health centers,
providing water and electricity •Fighting disease and protecting the environment •World Bank
assistance is generally long term and is funded both by member country contributions and through
bond issuance •World Bank staff are often specialists on particular issues, sectors, or techniques.

Sources: https://twitter.com/DavidMalpassWBG

https://www.worldbank.org/en/home

https://www.worldbank.org/en/news/press-release/2020/12/16/philippines-world-bank-approves-two-
projects-to-support-recovery-from-pandemic-boost-competitiveness-and-resilience-against-shocks