World Bank

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 International Monetary Fund (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)

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

• 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

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)

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

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)