World Bank Group

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World Bank Group
Established4 July 1944;79 years ago (1944-07-04)
Type Intergovernmental organization
Legal statusTreaty
Purpose Economic development, poverty elimination
Headquarters1818 H Street Northwest,
Washington D.C., U.S. [1]
Membership
189 states (188 UN countries and Kosovo) [2]
Ajay Banga [3]
MD & CFO
 Anshula Kant [4]
Main organ
Board of Directors [5]
Parent organization
Flag of the United Nations.svg  United Nations [6]
Website worldbank.org

The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and best-known development bank in the world and an observer at the United Nations Development Group. [7] The bank is headquartered in Washington, D.C., in the United States. It provided around $98.83 billion in loans and assistance to "developing" and transition countries in the 2021 fiscal year. [8] The bank's stated mission is to achieve the twin goals of ending extreme poverty and building shared prosperity. [9] Total lending as of 2015 for the last 10 years through Development Policy Financing was approximately $117 billion. [10] Its five organizations are

Contents

The first two are sometimes collectively referred to as the World Bank.

The activities of the World Bank (the IBRD and IDA) focus on developing countries, in fields such as human development (e.g. education, health), agriculture and rural development (e.g. irrigation and rural services), environmental protection (e.g. pollution reduction, establishing and enforcing regulations), infrastructure (e.g. roads, urban regeneration, and electricity), large industrial construction projects, and governance (e.g. anti-corruption, legal institutions development). The IBRD and IDA provide loans at preferential rates to member countries, as well as grants to the poorest countries. Loans or grants for specific projects are often linked to wider policy changes in the sector or the country's economy as a whole. For example, a loan to improve coastal environmental management may be linked to the development of new environmental institutions at national and local levels and the implementation of new regulations to limit pollution. [11]

History

Founding

The WBG came into formal existence on 27 December 1946 following international ratification of the Bretton Woods agreements, which emerged from the United Nations Monetary and Financial Conference (1–22 July 1944). It also provided the foundation of the Osiander Committee in 1951, responsible for the preparation and evaluation of the World Development Report. Commencing operations on 25 June 1946, it approved its first loan on 9 May 1947 (USD 250M to France for postwar reconstruction, in real terms the largest loan the bank has issued to date).

Membership

World Bank Group: .mw-parser-output .legend{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .legend-color{display:inline-block;min-width:1.25em;height:1.25em;line-height:1.25;margin:1px 0;text-align:center;border:1px solid black;background-color:transparent;color:black}.mw-parser-output .legend-text{} Member states of all five WBG organizations Member states of four WBG organizations Member states of three WBG organizations Member states of two WBG organizations Member states only of the IBRD World Bank Group.png
World Bank Group:
  Member states of all five WBG organizations
  Member states of four WBG organizations
  Member states of three WBG organizations
  Member states of two WBG organizations
  Member states only of the IBRD

All of the 188 UN members and Kosovo that are WBG members participate at a minimum in the IBRD. As of May 2016, all of them also participate in some of the other four organizations (IDA, IFC, MIGA, and ICSID).

WBG members by the number of organizations in which they participate: [2]

  1. Only in the IBRD:
  2. The IBRD and one other organization: San Marino, Nauru, Tuvalu, Brunei
  3. The IBRD and two other organizations: Antigua and Barbuda, Suriname, Venezuela, Namibia, Marshall Islands, Kiribati
  4. The IBRD and three other organizations: India, Mexico, Belize, Jamaica, Dominican Republic, Brazil, Bolivia, Uruguay, Ecuador, Dominica, Saint Vincent and the Grenadines, Guinea-Bissau, Equatorial Guinea, Angola, South Africa, Seychelles, Libya, Somalia, Ethiopia, Eritrea, Djibouti, Bahrain, Qatar, Iran, Malta, Bulgaria, Poland, Russia, Belarus, Kyrgyzstan, Tajikistan, Turkmenistan, Thailand, Laos, Vietnam, Palau, Tonga, Vanuatu, Maldives, Bhutan, Myanmar
  5. All five WBG organizations: the rest of the 138 WBG members

Non-members are Andorra, Cuba, Liechtenstein, Monaco, Palestine, the Holy See (Vatican City), Taiwan, and North Korea, of which Andorra is the only IMF member state did not join WBG.

The Republic of China joined the World Bank on December 27, 1945. [12] After the Chinese Civil War, the government fled to Taiwan and continued its membership in the WBG until April 16, 1980, when the People's Republic of China replaced the ROC. Since then, it uses the name "Taiwan, China". [13]

Excluded from the list are the following de facto states: Abkhazia, Artsakh, Northern Cyprus, the Sahrawi Arab Democratic Republic, Somaliland, South Ossetia, and Transnistria.

Organizational structure

The World Bank Group Building in Washington, D.C. The World Bank Group Building.jpg
The World Bank Group Building in Washington, D.C.
The World Bank Sign on the building The World Bank Group.jpg
The World Bank Sign on the building

Together with four affiliated agencies created between 1957 and 1988, the IBRD is part of the World Bank Group. The group's headquarters are in Washington, D.C. It is an international organization owned by member governments; although it makes profits, they are used to support continued efforts in poverty reduction. [14]

Technically the World Bank is part of the United Nations system, [15] but its governance structure is different: each institution in the World Bank Group is owned by its member governments, which subscribe to its basic share capital, with votes proportional to shareholding. Membership gives certain voting rights that are the same for all countries but there are also additional votes that depend on financial contributions to the organization. The president of the World Bank is nominated by the president of the United States and elected by the bank's Board of Governors. [16] As of 15 November 2009, the United States held 16.4% of total votes, Japan 7.9%, Germany 4.5%, the United Kingdom 4.3%, and France 4.3%. As changes to the bank's Charter require an 85% supermajority, the U.S. can block any major change in the bank's governing structure. [17] Because the U.S. exerts formal and informal influence over the bank as a result of its vote share, control over the presidency, and the bank's headquarters location in Washington, D.C., friends and allies of the U.S. receive more projects with more lenient terms. [18]

World Bank Group agencies

The World Bank Group consists of

The term "World Bank" generally refers to just the IBRD and IDA, whereas the term "World Bank Group" or "WBG" is used to refer to all five institutions collectively. [16]

The World Bank Institute is the capacity development branch of the World Bank, providing learning and other capacity-building programs to member countries.

The IBRD has 189 member governments, and the other institutions have between 153 and 184. [2] The institutions of the World Bank Group are all run by a board of governors meeting once a year. [16] Each member country appoints a governor, generally its minister of finance. Daily, the World Bank Group is run by a board of 25 executive directors to whom the governors have delegated certain powers. Each director represents either one country (for the largest countries), or a group of countries. Executive directors are appointed by their respective governments or the constituencies. [16]

The agencies of the World Bank are each governed by their Articles of Agreement that serves as the legal and institutional foundation for all their work. [16]

The activities of the IFC and MIGA include investment in the private sector and providing insurance, respectively.

Presidency

Traditionally, the bank president has been a U.S. citizen nominated by the president of the United States, the bank's largest shareholder. The nominee is subject to confirmation by the executive directors, to serve a five-year, renewable term. [16]

Current president

Ajay Banga is the current and 14th President of the World Bank Group.

Managing director

The managing director of the World Bank is responsible for organizational strategy; budget and strategic planning; information technology; shared services; Corporate Procurement; General Services and Corporate Security; the Sanctions System; and the Conflict Resolution and Internal Justice System. The present managing director, Shaolin Yang, assumed the office after Sri Mulyani resigned to become finance minister of Indonesia. [19] [20] The managing director and World Bank Group chief financial officer is Anshula Kant since 7 October 2019. [21]

Extractive Industries Review

After longstanding criticisms from civil society of the bank's involvement in the oil, gas, and mining sectors, the World Bank in July 2001 launched an independent review called the Extractive Industries Review (EIR—not to be confused with Environmental Impact Report). The review was headed by an "Eminent Person", Emil Salim (former Environment Minister of Indonesia). Salim held consultations with a wide range of stakeholders in 2002 and 2003. The EIR recommendations were published in January 2004 in a final report, "Striking a Better Balance". [22] The report concluded that fossil fuel and mining projects do not alleviate poverty, and recommended that World Bank involvement with these sectors be phased out by 2008 to be replaced by investment in renewable energy and clean energy. The World Bank published its Management Response to the EIR in September 2004 [23] after extensive discussions with the board of directors. The Management Response did not accept many of the EIR report's conclusions, but the EIR served to alter the World Bank's policies on oil, gas, and mining in important ways, as the World Bank documented in a recent follow-up report. [24] One area of particular controversy concerned the rights of indigenous peoples. Critics point out that the Management Response weakened a key recommendation that indigenous peoples and affected communities should have to provide 'consent for projects to proceed; instead, there would be 'consultation'. [25] Following the EIR process, the World Bank issued a revised Policy on Indigenous Peoples. [26]

Criticism

A young World Bank protester in Jakarta, Indonesia Worldbank protest jakarta.jpg
A young World Bank protester in Jakarta, Indonesia
World Bank/IMF protesters smashed the windows of this PNC Bank branch located in the Logan Circle neighbourhood of Washington, D.C. IMF and World Bank protests - damage in Logan Circle.jpg
World Bank/IMF protesters smashed the windows of this PNC Bank branch located in the Logan Circle neighbourhood of Washington, D.C.

The World Bank has long been criticized by a range of non-governmental organizations and academics, notably including its former chief economist Joseph Stiglitz, who is equally critical of the International Monetary Fund, the US Treasury Department, and the US and other developed country trade negotiators. [27] Critics argue that the so-called free market reform policies—which the bank advocates in many cases—in practice are often harmful to economic development if implemented badly, too quickly ("shock therapy"), in the wrong sequence, or in very weak, uncompetitive economies. [27] World Bank loan agreements can also force procurements of goods and services at uncompetitive, non-free-market, prices. [28] : 5  Other critical writers, such as John Perkins, label the international financial institutions as 'illegal and illegitimate and a cog of coercive American diplomacy in carrying out financial terrorism. [29]

In Masters of Illusion: The World Bank and the Poverty of Nations (1996), Catherine Caufield argues that the assumptions and structure of the World Bank operation ultimately harm developing nations rather than promote them. Caufield first criticizes the highly homogenized and Western recipes of "development" the bank holds. To the World Bank, different nations and regions are indistinguishable and ready to receive the "uniform remedy of development". The danger of this assumption is that to attain even small portions of success, Western approaches to life are adopted and traditional economic structures and values are abandoned. A second assumption is that poor countries cannot modernize without money and advice from abroad.

Several intellectuals in developing countries have argued that the World Bank is deeply implicated in contemporary modes of donor and NGO-driven imperialism and that its intellectual contribution functions, primarily, to seek to blame the poor for their condition. [30]

Defenders of the World Bank contend that no country is forced to borrow its money. The bank provides both loans and grants. Even the loans are concessional since they are given to countries that have no access to international capital markets. Furthermore, the loans, both to poor and middle-income countries, are below market-value interest rates. The World Bank argues that it can help development more through loans than grants because money repaid on the loans can then be lent for other projects.

Criticism was also expressed towards the IFC and MIGA and their way of evaluating the social and environmental impact of their projects. Critics state that even though IFC and MIGA have more of these standards than the World Bank, they mostly rely on private-sector clients to monitor their implementation and miss an independent monitoring institution in this context. This is why an extensive review of the institutions' implementation strategy of social and environmental standards is demanded. [31]

The World Bank was the subject of a scandal with its then-president Paul Wolfowitz and his aide, Shaha Riza, in 2007. [32]

According to reports citing a recording of a 2018 staff meeting shared by a whistleblower, World Bank staff were informed Robert Malpass, a recent economics graduate of Cornell University and the son of David Malpass, then US Under Secretary of the Treasury for International Affairs and later President of the World Bank Group, would be hired as an analyst in July of that year. On the recording, staff were reportedly told Robert Malpass was a "prince" and an "important little fellow" who could go "running to daddy." Bank officials also believed David Malpass was more influential than then-US Treasury Secretary Steven Mnuchin, who they said "has little or no clue on things." [33] In April 2018, the US Treasury had changed its position to back a $13 billion capital infusion for the bank. [34]

Allegations of corruption

The World Bank's Integrity Vice Presidency (INT) is charged with the investigation of internal fraud and corruption, including complaint intake, investigation, and investigation reports. [35]

Investments

The World Bank Group has also been criticized for investing in projects with human rights issues. [36]

The Compliance Advisor/Ombudsman (CAO) criticized a loan the bank made to the palm oil company Dinant after the 2009 Honduran coup d'état. There have been numerous killings of Campesinos in the region where Dinant was operating. [37]

Other controversial investments include loans to the Chixoy Hydroelectric Dam in Guatemala while it was under military dictatorship, and to Goldcorp (then Glamis Gold) for the construction of the Marlin Mine.

In 2019, the Congressional-Executive Commission on China questioned the World Bank about a loan in Xinjiang, China, that was used to buy high-end security gear, including surveillance equipment. [38] [39] The bank launched an internal investigation in response to the allegation. In August 2020, U.S. lawmakers questioned the continued disbursement of the loan. [40]

List of presidents

List of chief economists

List of World Bank Directors-General of Evaluation

See also

Related Research Articles

The International Bank for Reconstruction and Development (IBRD) is an international financial institution, established in 1944 and headquartered in Washington, D.C., United States; it is the lending arm of World Bank Group. The IBRD offers loans to middle-income developing countries. It is the first of five member institutions that compose the World Bank Group. The initial mission of the IBRD in 1944, was to finance the reconstruction of European nations devastated by World War II. The IBRD and its concessional lending arm, the International Development Association (IDA), are collectively known as the World Bank as they share the same leadership and staff.

The International Development Association (IDA) is a development finance institution which offers concessional loans and grants to the world's poorest developing countries. The IDA is a member of the World Bank Group and is headquartered in Washington, D.C. in the United States. It was established in 1960 to complement the existing International Bank for Reconstruction and Development by lending to developing countries which suffer from the lowest gross national income, from troubled creditworthiness, or from the lowest per capita income. Together, the International Development Association and International Bank for Reconstruction and Development are collectively generally known as the World Bank, as they follow the same executive leadership and operate with the same staff.

The Independent Evaluation Group (IEG) is an independent unit within the World Bank Group (WBG) charged with objectively evaluating the activities of the International Bank for Reconstruction and Development (IBRD) and International Development Association, the work of International Finance Corporation (IFC) in private sector development, and the Multilateral Investment Guarantee Agency's (MIGA) guarantee projects and services to provide accountability, help de WGB avoid unnecessarily mistakes and successfully reach their goals. The head of IEG, the Director-General, Evaluation, reports directly to the Bank Group's Board of Executive Directors and not to Bank Group management.

<span class="mw-page-title-main">World Bank</span> International financial institution

The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. 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.

<span class="mw-page-title-main">China and the World Bank</span> Overview of the relationship between China and the World Bank

China originally joined the World Bank Group (WBG) on December 27, 1945. However, after the Chinese Civil War, the World Bank recognized the Republic of China as its member, until the relationship ended in 1980, when the membership was replaced by the People's Republic of China. The People's Republic of China (PRC) did not become involved with the World Bank group until 1980, when it first joined the World Bank in April due to the market reforms known as reform and opening-up. Prior to the economic reform and its relation with the World Bank, according to CRS, "China maintained policies that kept the economy very poor, stagnant, centrally controlled, vastly inefficient, and relatively isolated from the global economy". Since its entry into the World Bank, China has transformed into a market-based economy and has experienced rapid economic and social development. Currently, although China has become the world's second largest economy with 1.4 billion population, it still has a close relationship with the World Bank in areas such as poverty, environmental protection and new challenges from the reform.

Sri Lanka has been involved with the World Bank since its initial entrance into the International Bank for Reconstruction and Development (IBRD) on August 29, 1950. Currently, Sri Lanka's quota in the IBERT is approximately 515.4 million dollars, thus allotting 5,846 votes or 0.25% of the total votes in the institution. Sri Lanka later became a member of the other institutions in the world bank such as the International Finance Corporation (IFC) on July 20, 1956, with a current quota of 7.491 million dollars, allotting 8,311 votes or 0.32% of the total votes; the International Development Association (IDA) on June 27, 1961, with a current share of 98,100 votes or 0.36% within the institution; the International Center for Settlement of Investment Disputes (ICSID) on November 11, 1967; and the Multilateral Investment Guarantee Agency (MIGA) on May 27, 1988, with a current quota of 4.78 million SDR. Sri Lanka is currently in the India-led constituency for these organizations, representing the country as part of the South Asian block.

The World Bank Group country partnership framework aims to support Haiti's efforts to reduce poverty and provide economic opportunities for all Haitians. The framework aims to strengthen institutions, government capacity, and public financial management as aid and concessional financing rapidly decline.

<span class="mw-page-title-main">Uruguay and the World Bank</span>

Uruguay and the World Bank have been working together for a long time. This is because they both mutually benefit.

<span class="mw-page-title-main">Vietnam and the World Bank</span> Vietnams relationship with the World Bank

Vietnam joined the World Bank Group (WBG) on 21 September 1956. Before the mid-1980s, Vietnam was one of the world's least developed countries. A series of economic and political reforms launched in 1986, known as Đổi Mới, caused Vietnam to experience rapid economic growth and development, becoming a lower middle-income country. The World Bank (WB) has maintained a development partnership with Vietnam since 1993. As of 25 March 2019, it has committed a total of US$24 billion in loans, credits, and grants to Vietnam through 165 operations and projects, 44 of which are active as of 2019 and comprise US$9 billion. With an estimated extreme poverty rate below 3% and a GDP growth rate of 7.1% in 2018, Vietnam's economy continues to show fundamental strength and is supported by robust domestic demand and export-oriented manufacturing.

In 1980, Djibouti became a member of the World Bank Group (WBG). The WBG includes five different organizations: 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). Accounting for more than thirteen thousand projects across 173 countries, the WBG is one of the main lending facilities of the world. The WBG works together with governments and private sectors in order to enhance countries efforts towards development and poverty reduction.

<span class="mw-page-title-main">Croatia and the World Bank</span>

Croatia joined the World Bank in 1993, two years after declaring independence from the Socialist Federal Republic of Yugoslavia in 1991. The World Bank's projects from the mid-1990s to the mid-2000s primarily focused on infrastructural and environmental projects.

<span class="mw-page-title-main">The Democratic Republic of the Congo and the World Bank</span> The DRCs relations with the World Bank

The World Bank Group is a family of five international organizations, which has continuously given leverage loans and financial assistance to developing nations like the Democratic Republic of the Congo, commonly known as the DRC. The country has received assistance from the World Bank in the form of social programs in order to induce and sustain economic development. This assistance has been directed toward conflict prevention, investments in education, and addressing environmental degradation.

Myanmar is considered a lower-middle income state, and although there are areas in the country that are lagging there have been measurable improvements in terms of development since 2005. The World Bank's current strategy in Myanmar is to focus on rural development. Due to the conflict in the Rakhine area the World Bank Group (WBG) has increased its focus on social inclusion. Implementation of projects within Myanmar have increased access to electricity, schools, and healthcare. The current framework is laid out in the Myanmar Country Partnership Framework 2015-2019.

<span class="mw-page-title-main">Poland and the World Bank</span>

After separating from the World Bank and other International Financial Institutions for decades due to pressure from the Soviet Union, Poland rejoined the World Bank on June 27, 1986. The World Bank was instrumental in financing and providing technical assistance for Poland as it transitioned from a Command Economy into a Market-Oriented Economy. As a middle income country, Poland has worked primarily with the International Bank for Reconstruction and Development since it is not eligible for loans from the International Development Association. Additionally, Poland has had a few projects with the Multilateral Investment Guarantee Agency and the International Finance Corporation. Currently, most of Poland's engagements with the World Bank Group concern environmental concerns and public finances.

<span class="mw-page-title-main">Panama and the World Bank</span> Relationship between Panama and the World Bank

The World Bank Group, composed of five institutions, works together with the Panamanian government to reduce poverty and increase prosperity. Panama first became a member of the World Bank Group on March 14, 1946. In the past decade, Panama's annual growth has increased by 7.2% in the span of 12 years, making it one of the fastest growing economies in the world. In 2019, Panama was ranked the second fastest growing economy in Latin America by the World Bank. As of 2019, Panama has $435.59 million US dollars being distributed amongst seven projects, all geared toward their overall goal of poverty reduction and indigenous inclusion. Continuing with their efforts to reduce extreme poverty, the World Bank along with efforts of the Panamanian government has reduced poverty from 39.9% to 26.2% while extreme poverty has been reduced by an estimated 15.6% to 11.3% from 2014 to 2019. As of late 2019, there is an estimated $213.26 million US dollars of undisbursed loans.

<span class="mw-page-title-main">South Korea and the World Bank</span>

South Korea first joined the World Bank Group as a member in 1955. Over the years, South Korea manages to develop its economy in a successful and positive manner. The country now is a financial contributor to the World Bank to help other, rather than an aid recipient in the old days. Under the help and cooperation with the World Bank, South Korea became a rapid growth country in economy begin in the 1970s, and it now became a large shareholder of the institution to help out other developing countries.

<span class="mw-page-title-main">Kazakhstan and the World Bank</span>

Kazakhstan joined the World Bank in 1992 after it had gained independence from the in 1991. Kazakhstan has one of the fastest growing economies of all, and as a result had its classification changed from a lower-middle income state to and upper-middle income state in 2006. Because of this, Kazakhstan has begun to rely less on international financing as it had in previous decades; however, Kazakhstan still takes out loans from the world bank, primarily relating to the countries environmental issues.

The World Bank, in seeking to promote development within less developed countries, describes itself as a fund rather than a Bank, by initiating projects for less developed countries in pursuit to end poverty. The World Bank initiates and divides such projects for each Developed country through its 5 internal Institutions: that being MIGA, IDA, IFC, ICSID, and IRD. One target Latin American country was Guatemala. According to recent World Bank data, 8.7% of Guatemala's people met the standard of extreme poverty. This standard is quantified to mean an average income of less than $1.9 a day. Such poverty thus increasingly grew by "half a million" from the time of 2000–2014 With increasingly high poverty and a lack thereof appropriate education in 2016 prompted the World Bank partnership with Guatemala through the partnership.

<span class="mw-page-title-main">Belarus and the World Bank</span>

The World Bank Group is a large international financial institution that continuously provides loans and grants in order to fund capital projects in poor and developing nations across the globe. Its main goal is to reduce poverty worldwide. It consists of five other large international financial banks within in, each providing funding for different types of projects. Belarus joined the World Bank back in 1992 and has since then received over $2.5 billion in lending commitments since then and in the form of grant financing, it has received $31 million, with much of this funding going towards programs that include civil society partners. Currently, Belarus's active portfolio within the World Bank has a total of $933 million, with it containing a total of nine different projects, as well as two more projects that are currently still in preparation in the areas of energy efficiency and higher education. The majority of this funding has been directed towards the themes of pollution management and environmental health, climate change, and rural services and infrastructures, with the majority of the funding going directly into the central government, other agencies and extractives, and forestry sectors of the country, as well as sustainable energy. In looking to have more economic growth, improving the private sector environment within Belarus could help.

Jennifer "DJ" Nordquist is a public policy expert who served as the U.S. Executive Director of the World Bank, representing the U.S. as the largest shareholder at the International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Finance Corporation (IFC), and Multilateral Investment Guarantee Agency (MIGA).

References

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  2. 1 2 3 "Member Countries". World Bank Group. Retrieved 3 June 2016.
  3. ↑ "U.S. Businessman Ajay Banga Approved to Lead World Bank". scroll.in. Retrieved 19 June 2023.
  4. ↑ "SBI MD Anshula Kant appointed as MD, CFO of World Bank Group". antopedia.org. Retrieved 13 July 2019.
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  6. ↑ "UN System" . Retrieved 17 February 2024.
  7. ↑ "RDSI Sign Gold". United Nations Development Group. Retrieved 27 May 2012.[ dead link ]
  8. ↑ "Fiscal year data". World Bank. Retrieved 7 December 2021.
  9. ↑ The World Bank, Press release: "World Bank Group Commitments Rise Sharply in FY14 Amid Organizational Change", July 1 2014, http://www.worldbank.org/en/news/press-release/2014/07/01/world-bank-group-commitments-rise-sharply-in-fy14-amid-organizational-change
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  11. ↑ World bank – structured financial products (PDF). Washington: World bank. 5 April 2016. Archived (PDF) from the original on 9 October 2022. Retrieved 5 November 2018.
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  13. ↑ "Taiwan, China | Data".
  14. ↑ FAQ-About The World Bank Archived 12 March 2013 at the Wayback Machine , Worldbank.org.
  15. ↑ The United Nations system: Principal Organs Archived 3 March 2016 at the Wayback Machine , Colorado.edu.
  16. 1 2 3 4 5 6 "About Us" Archived 11 June 2012 at the Wayback Machine , wordbank.org, accessed 30 May 2007.
  17. ↑ US Blocks Stronger African Voice At World Bank Retrieved 7 August 2007.
  18. ↑ Clark Richard and Lindsay Dolan. "Pleasing the Principal: U.S. Influence in World Bank Policymaking." 2021. American Journal of Political Science 65(1): 36-51. https://doi.org/10.1111/ajps.12531
  19. ↑ "More Chinese at helm of international organisations". The Straits Times. Archived from the original on 3 October 2018. Retrieved 3 October 2018.
  20. ↑ "Indonesia's president appoints World Bank's Sri Mulyani as finance minister". The Star. Retrieved 3 October 2018.
  21. ↑ "Anshula Kant".
  22. ↑ "Striking a Better Balance", worldbank.org, January 2004, accessed 30 May 2007.
  23. ↑ "Striking a Better Balance", Archived 13 November 2005 at the Wayback Machine , "World Bank Group Management Response" to "The World Bank Group and Extractive Industries: The Final Report of the Extractive Industries Review: World Bank Group Management Response",17 September 2004, accessed 30 May 2007.
  24. ↑ "Oil, Gas, Mining, and Chemicals" (follow up report) [ permanent dead link ], accessed 30 May 2007.
  25. ↑ "The Energy Tug of War" Archived 30 September 2007 at the Wayback Machine , The New Internationalist , No. 373 (November 2004), accessed 30 May 2007.
  26. ↑ "World Bank Operational Manual: Operational Policies: Indigenous Peoples" (Op 4.10), worldbank.org, July 2005, accessed 30 May 2007. Archived version from 7 May 2008
  27. 1 2 See Joseph Stiglitz, The Roaring Nineties , Globalization and Its Discontents , and Making Globalization Work .
  28. ↑ "Microsoft Word - IFI Watch Bangladesh_Vol_1 No_1.doc" (PDF). Archived from the original (PDF) on 8 November 2004. Retrieved 31 May 2010.
  29. ↑ Perkins, John (2004). Confessions of an Economic Hit Man . Plume. p. 259. ISBN   0-452-28708-1.
  30. ↑ For instance see David Moore's edited book 'The World Bank', University of KwaZulu-Natal Press, 2007
  31. ↑ Korinna Horta (February 2013). "Most relevant review". dandc.eu.
  32. ↑ "Pressure grows on World Bank boss". BBC News. 13 April 2007. Retrieved 29 June 2022.
  33. ↑ Makortoff, Kalyeena (12 April 2023). "World Bank staff were told to give special treatment to son of Trump official". The Guardian. Retrieved 12 April 2023.
  34. ↑ Lawder, David (21 April 2018). "World Bank shareholders back $13 billion capital increase". Reuters. Retrieved 12 April 2023.
  35. ↑ "Integrity Vice Presidency - The Investigative Process". Web.world bank.org. Archived from the original on 10 December 2011. Retrieved 27 May 2012.
  36. ↑ Mychalejko, Cyril (23 January 2014). "Beyond Reform: It's Time to Shut Down the World Bank". Upside Down World. Retrieved 5 April 2014.
  37. ↑ Malkin, Elisabeth (10 January 2014). "World Bank Is Criticized for Honduran Loan". The New York Times. Retrieved 5 April 2014.
  38. ↑ Allen-Ebrahimian, Bethany (27 August 2019). "The World Bank Was Warned About Funding Repression in Xinjiang". Foreign Policy . Retrieved 28 August 2019.
  39. ↑ Allen-Ebrahimian, Bethany (11 December 2019). "Scoop: China tried to get World Bank to fund surveillance in Xinjiang". Axios. Retrieved 14 August 2020.
  40. ↑ Allen-Ebrahimian, Bethany (14 August 2020). "Lawmakers demand answers from World Bank on Xinjiang loan". Axios. Retrieved 14 August 2020.
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