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World Bank Group
Sign in to saveAlso known as WBG
group of five international organizations that make leveraged loans to developing countries
Key facts
- Established
- 4 July 1944 ; 81 years ago ( 1944-07-04 )
- Type
- Intergovernmental organization
- Legal status
- Treaty
- Purpose
- Economic development , poverty elimination
- Headquarters
- 1818 H Street Northwest , Washington D.C. , U.S.
- Members
- 189 states (188 UN countries and Kosovo ) - see List of World Bank members
- President
- Ajay Banga
- Md cfo
- Anshula Kant
- Main organ
- Board of Directors
- Parent organization
- United Nations
- Website
- worldbank.org
via Wikipedia infobox
Research organization · ROR
- Type
- Other
- Founded
- 1944
- Location
- Washington, United States
- Also known as
- WBG
- Status
- Active
GRID grid.484609.7 · ISNI 0000 0004 0403 163X
Wikidata facts
- Instance of
- specialized agency of the United Nations
- Has part
- World Bank
- Country
- United States
- Headquarters
- Washington, D.C.
- Official website
- www.worldbank.org/en/home
- Image
- World Bank building at Washington.jpg
Show 10 more facts
- Commons category
- World Bank Group
- topic's main category
- Category:World Bank Group
- inception
- 1944-07-04
- different from
- International Bank for Reconstruction and Development
- social media followers
- 3785996
- position held by head of the organization
- President of the World Bank Group
- short name
- GBM
- on focus list of Wikimedia project
- Wikipedia:Vital articles/Level/4
- partnership with
- International Civil Aviation Organization
- funder
- Open Society Foundations
Sources (11)
via Wikidata · CC0
~40 min read
Encyclopedic overview
The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. The group is the largest development bank in the world. It is headquartered in Washington, D.C., United States. The bank's stated mission is to achieve the twin goals of ending extreme poverty and building shared prosperity. Historically, within the group, the IBRD and IDA were collectively known as the World Bank due to their emphasis on global lending.
The World Bank was established along with the International Monetary Fund at the 1944 Bretton Woods Conference. Initially, its loans helped rebuild countries devastated by World War II. Over time, it has shifted its focus to development, with a stated mission of eradicating extreme poverty and boosting shared prosperity. It has been criticized for it's structural adjustment programs, governence, environmental record, and policies detrimental to the social welfare.
Excerpted from Wikipedia’s “World Bank Group” article, available under the CC BY-SA 4.0 licence.