The World Bank is an international financial institution that provides loans and grants to governments of low and middle income countries to run capital projects. The World Bank consists of two institutions. These; International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA). The most important goal stated by the World Bank is poverty reduction. Information about “Who is the World Bank owned by, Relationship between the World Bank and the IMF” are in rest of the article. You can browse here for Belgium Brussels Stock Exchange BEL20 companies.
Who is the World Bank owned by?
The World Bank was established in 1944. Its parent institution is the World Bank Group. Its abbreviation is WBG or WB. The World Bank is headquartered in Washington, capital of the United States. The aim of the World Central Bank is to provide loans to poor countries and help their development. The main goal has been determined as eliminating poverty. 189 countries (including Kosovo) are members of the World Bank, which is dominated by the USA and England. It was decided that the President of the World Bank should be a permanent American citizen. And this practice is currently ongoing. The President of the World Bank is David Malpass, it is expected to continue his duty in 2021.
The World Bank Group is a large family of five international organizations:
- International Bank for Reconstruction and Development (IBRD)
- International Development Association (IDA)
- International Finance Corporation (IFC)
- Multilateral Investment Guarantee Agency (MIGA)
- International Center for the Settlement of Investment Disputes (ICSID)
Relationship between the World Bank and the IMF!
Both the World Bank and the International Monetary Fund (IMF) were established at the Bretton Woods Conference in 1944. Like the World Bank, the IMF has its headquarters in Washington. It is the Golden Room in Mount Washington Hotel where the International Monetary Fund and the World Bank are established.
World bank official website: https://www.worldbank.org/