• It is an international financial institution that
provides loan to developing countries for
• The Bank’s initial goal was to assist in the
reconstruction of post-war Europe and to
• Robert Zoellick has been President of the
World Bank since 2007
The World Bank Group
1. International Bank for Reconstruction and Development (IBRD)
– Est. 1946, “aims to reduce poverty in middle-income and creditworthy poorer
countries by promoting sustainable development through loans, guarantees,
risk management products, and analytical and advisory services”
2. International Development Association (IDA)
– Est.1960, interest free loans and grants
3. International Finance Corporation (IFC)
– Est.1956, Private sector arm of the World Bank
4. Multilateral Investment Guarantee Agency (MIGA)
– Est.1988, Promotes Foreign Direct Investment in developing countries
5. International Centre for Settlement of Investment Disputes (ICSID)
– Est. 1966, facilitate the settlement of investment disputes between
governments and foreign investors
PURRPOSE OF WORLD BANK
• Assist development and reconstruction
• To promote long term balanced international
• To lend for project development
• To conduct its operations with due regard to
• Promote private investment
Structure of the World Bank
Headquartered in Washington D.C.
Over 100 offices all over the world
185 member countries
Membership of the IMF is required
5 Largest shareholders: France, Germany,
Japan, UK, and US
Board of Directors
• 24 members of the Board (5 from the largest
shareholders, 19 to cover the remaining
• President of the World Bank serves as the
Chairman of the Board
• General operations
• Meet twice a week
• According to the Charter, the member with the
greatest # of shares, chooses the president.
• The president is, traditionally, a U.S. citizen and is
the chairman of the Board.
Future plans :
Millennium Development Goals
Targets and Goals set for 2015
• Reducing Poverty and Hunger—global poverty is
projected to fall to 12 percent
• Educating All Children—ensure that all children
complete primary education.
• Empowering Women—eliminate gender disparity in
primary and secondary education.
• Saving Children—reduce the under 5 mortality rate.
• Caring for Mothers—reduce the maternal mortality
• Combating Diseases—such as AIDS/HIV, Tuberculosis,
malaria, and other major diseases.
• Using Resources Wisely—improvements in slum
dwellings, create sustainable access to drinking water,
and sustainable access to basic sanitation.
• Working Together—make available technological
advancements in information and communication.
Allow affordable access to essential drugs in
developing countries. Address the particular need of
• The World Bank Group focus on governance and anticorruption
(GAC) follows from its mandate to reduce poverty—a capable and
accountable state creates opportunities for poor people, provides
better services, and improves development outcomes.
• The country has primary responsibility for improving governance—
country ownership and leadership are key to successful
implementation, and the World Bank Group is committed to
supporting a country’s own priorities. A country’s government
remains the principal counterpart for the World Bank Group.
• The World Bank Group is committed to remaining engaged in the
fight against poverty, and seeking creative ways of providing
support, even in poorly-governed countries—“don’t make the poor
• The form of World Bank Group engagement on GAC will vary from
country to country, depending on specific circumstances—while
there is no ‘one-size-fits-all’, the WBG will adopt a consistent
approach towards operational decisions across countries,
systematically anchored in national strategies, supported by World
Bank Group Country Assistance Strategies, with no change in the
performance-based allocation system for IDA countries or IBRD
resource allocation system.
• Engaging systematically with a broad range of government,
business, and civil society stakeholders is key to GAC reform and
development outcomes—so, consistent with its mandate, the
World Bank Group will scale up existing good practice in engaging
with multiple stakeholders in its operational work, including by
strengthening transparency, participation, and third-party
monitoring in its own operations.
• The World Bank Group will strive to strengthen, rather than bypass,
country systems—better national institutions are the more effective
and long term solution to governance and corruption challenges
and to mitigating fiduciary risk for all public money, including that
from the Bank.
• The World Bank Group will work with donors, international
institutions, and other actors at the country and global levels
to ensure a harmonized approach and coordination based on
respective mandates and comparative advantage—“the World
Bank Group should not act in isolation.”