• The World Bank grants loans to fund international development projects. Established on December 27, 1945, initial investments were devoted to rebuilding nations after conflict, specifically war-torn Europe after World War II. While the organization still helps fund post-conflict reconstruction, its focus has shifted to projects that foster economic growth and business development

  On April 2, 2009, the leaders at the G20 London summit agreed to provide an additional $1 trillion in funds for the World Bank and IMF. Falling short of committing to a global stimulus package, the funds are proposed to help offset the global economic downturn.Fox News: G-20 Leaders to Give $1 Trillion ... (April 2, 2009)

• Fast Facts

  1. Established: December 27, 1945World Bank: About The World Bank
  2. Part of the Bretton Woods Agreement
  3. Headquarters: Washington D.C.
  4. Offices in more than 100 countries
  5. President: Robert ZoellickWorld Bank: Office of the President
  6. Stated goal is reducing poverty
  7. First loan: $250 million to France for reconstruction after World War II
  8. Training wings: World Bank Institute and Global Development Learning Network
  9. 185 member countries
  10. Over 10,000 employees

• Boards of Directors

  • International Bank for Reconstruction and Development (IBRD)
  • International Development Association (IDA)
  • International Finance Corporation (IFC)
  • Multilateral Investment Guarantee Agency (MIGA)

• World Bank PresidentsWorld Bank: [http://web.worldbank.org/WBSITE/EXTERNAL/EXTABOUTUS/EXTARCHIVES/0,,contentMDK:20510826~pagePK:36726~piPK:437378~theSitePK:29506,00.html World Bank Group Presidents]

  • Eugene Meyer 1946-1946
  • John McCloy 1947-1949
  • Eugene Black 1949-1962
  • George Woods 1963-1968
  • Robert McNamara 1968-1981
  • Alden Clausen 1981-1986
  • Barber Conable 1986-1991
  • Lewis Preston 1991-1995
  • James Wolfensohn 1995-2005
  • Paul Wolfowitz 2005-2007
  • Robert Zoellick elected in 2007

• Shrinking Economy

  In March 2009 the World Bank indicated that the world economy was shrinking for the first time since World War II. They also indicated that the economy is in the worst condition since the Great Depression, with developing countries facing a potential shortfall of $700 billion.CNNMoney: Economy worst since Great Depression (March 9, 2009)

• Investments

  The Bank's investments are guided by five key principles which include capacity building, infrastructure creation and improvement, development of financial systems and institutions, combating corruption and providing consultancy and training.World Bank: About The World Bank

• Criticism

  The World Bank has received considerable criticism, most of which argues that the institution was not, in reality, established to combat poverty but instead to promote United States and similar industrialized countries business interests.Bretton Woods Project: ...Criticsm about the World Bank and IMF Many have argued that World Bank programs have actually contributed to poverty and environmental degradation in many areas.Guardian UK: WorldBank Accused of Razing Congo forests (October 4, 2007)

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