Category

Specialized Agencies

HQ location

Washington D.C.

Date established

1944

Resolution

GA Resolution 50(I)

Joined CEB

15 November 1947

Leadership

President

Since inception in 1944, the World Bank has expanded from a single institution to a closely associated group of five development institutions. Its mission evolved from the International Bank for Reconstruction and Development (IBRD) as facilitator of post-war reconstruction and development to the present-day mandate of worldwide poverty alleviation in close coordination with its five affiliates that form the World Bank Group: the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Guarantee Agency (MIGA), and the International Centre for the Settlement of Investment Disputes (ICSID)

 

The World Bank, at one point, had homogeneous staff of engineers and financial analysts, based solely in Washington, D.C. Today, it has a multidisciplinary and diverse staff that includes economists, public policy experts, sector experts and social scientists—and now more than a third of its staff are based in country offices. Reconstruction remains an important part of the work of the World Bank. However, at today's World Bank, poverty reduction through an inclusive and sustainable globalization remains the overarching goal.

The IBRD, established in 1944 as the original institution of the World Bank Group, it is structured like a cooperative that is owned and operated for the benefit of its 188 member countries.

Five Agencies, One Group
The World Bank Group consists of five organizations:

IBRD
The International Bank for Reconstruction and Development (IBRD) lends to governments of middle-income and creditworthy low-income countries.

IDA
The International Development Association (IDA) provides interest-free loans—called credits— and grants to governments of the poorest countries.

IFC
The International Finance Corporation (IFC) provides loans, equity and technical assistance to stimulate private sector investment in developing countries.

MIGA
The Multilateral Investment Guarantee Agency (MIGA) provides guarantees against losses caused by non-commercial risks to investors in developing countries.

ICSID
The International Centre for Settlement of Investment Disputes (ICSID) provides international facilities for conciliation and arbitration of investment disputes.

At its Annual Meeting in September 2006, the World Bank — with the encouragement of its shareholder governments — committed to make further improvements to the services it provides its members. To meet the increasingly sophisticated demands of middle-income countries, IBRD is overhauling financial and risk management products, broadening the provision of free-standing knowledge services and making it easier for clients to deal with the Bank.

Country / Date of Membership

 

Afghanistan, Jul 14, 1955
Albania, Oct 15, 1991
Algeria, Sep 26, 1963
Angola, Sep 19, 1989
Antigua and Barbuda, Sep 22, 1983
Argentina, Sep 20, 1956
Armenia, Sep 16, 1992
Australia, Aug 5, 1947
Austria, Aug 27, 1948
Azerbaijan, Sep 18, 1992
Bahamas, Aug 21, 1973
Bahrain, Sep 15, 1972
Bangladesh, Aug 17, 1972
Barbados, Sep 12, 1974
Belarus, Jul 10, 1992
Belgium, Dec 27, 1945
Belize, Mar 19, 1982
Benin, Jul 10, 1963
Bhutan, Sep 28, 1981
Bolivia, Dec 27, 1945
Bosnia and Herzegovina, Feb 25, 1993
Botswana, Jul 24, 1968
Brazil, Jan 14, 1946
Brunei Darussalam, Oct 10, 1995
Bulgaria, Sep 25, 1990
Burkina Faso, May 2, 1963
Burundi, Sep 28, 1963
Cambodia, Jul 22, 1970
Cameroon, Jul 10, 1963
Canada, Dec 27, 1945
Cape Verde, Nov 20, 1978
Central African Republic, Jul 10, 1963
Chad, Jul 10, 1963
Chile, Dec 31, 1945
China, Dec 27, 1945
Colombia, Dec 24, 1946
Comoros, Oct 28, 1976
Congo, Democratic Republic of, Sep 28, 1963
Congo, Republic of, Jul 10, 1963
Costa Rica, Jan 8, 1946
Cote d'Ivoire, Mar 11, 1963
Croatia, Feb 25, 1993
Cyprus, Dec 21, 1961
Czech Republic, Jan 1, 1993
Denmark, Mar 30, 1946
Djibouti, Oct 1, 1980
Dominica, Sep 29, 1980
Dominican Republic, Sep 18, 1961
Ecuador, Dec 28, 1945
Egypt, Arab Republic of, Dec 27, 1945
El Salvador, Mar 14, 1946
Equatorial Guinea, Jul 1, 1970
Eritrea, Jul 6, 1994
Estonia, Jun 23, 1992
Ethiopia, Dec 27, 1945
Fiji, May 28, 1971
Finland, Jan 14, 1948
France, Dec 27, 1945
Gabon, Sep 10, 1963
Gambia, The, Oct 18, 1967
Georgia, Aug 7, 1992
Germany, Aug 14, 1952
Ghana, Sep 20, 1957
Greece, Dec 27, 1945
Grenada, Aug 27, 1975
Guatemala, Dec 28, 1945
Guinea, Sep 28, 1963
Guinea-Bissau, Mar 24, 1977
Guyana, Sep 26, 1966
Haiti, Sep 8, 1953
Honduras, Dec 27, 1945
Hungary, Jul 7, 1982
Iceland, Dec 27, 1945
India, Dec 27, 1945
Indonesia, Apr 13, 1967
Iran, Islamic Republic of, Dec 29, 1945
Iraq, Dec 27, 1945
Ireland, Aug 8, 1957
Israel, Jul 12, 1954
Italy, Mar 27, 1947
Jamaica, Feb 21, 1963
Japan, Aug 13, 1952
Jordan, Aug 29, 1952
Kazakhstan, Jul 23, 1992
Kenya, Feb 3, 1964
Kiribati, Sep 29, 1986
Korea, Republic of, Aug 26, 1955
Kosovo, Jun 29, 2009
Kuwait, Sep 13, 1962
Kyrgyz Republic, Sep 18, 1992
Lao People's Democratic Republic, Jul 5, 1961
Latvia, Aug 11, 1992
Lebanon, Apr 14, 1947
Lesotho, Jul 25, 1968
Liberia, Mar 28, 1962
Libya, Sep 17, 1958
Lithuania, Jul 6, 1992
Luxembourg, Dec 27, 1945
Macedonia, FYR of, Feb 25, 1993
Madagascar, Sep 25, 1963
Malawi, Jul 19, 1965
Malaysia, Mar 7, 1958
Maldives, Jan 13, 1978
Mali, Sep 27, 1963
Malta, Sep 26, 1983
Marshall Islands, May 21, 1992
Mauritania, Sep 10, 1963
Mauritius, Sep 23, 1968
Mexico, Dec 31, 1945
Micronesia, Federated States of, Jun 24, 1993
Moldova, Aug 12, 1992
Mongolia, Feb 14, 1991
Montenegro, Jan 18, 2007
Morocco, Apr 25, 1958
Mozambique, Sep 24, 1984
Myanmar, Jan 3, 1952
Namibia, Sep 25, 1990
Nepal, Sep 6, 1961
Netherlands, Dec 27, 1945
New Zealand, Aug 31, 1961
Nicaragua, Mar 14, 1946
Niger, Apr 24, 1963
Nigeria, Mar 30, 1961
Norway, Dec 27, 1945
Oman, Dec 23, 1971
Pakistan, Jul 11, 1950
Palau, Dec 16, 1997
Panama, Mar 14, 1946
Papua New Guinea, Oct 9, 1975
Paraguay, Dec 28, 1945
Peru, Dec 31, 1945
Philippines, Dec 27, 1945
Poland, Jun 27, 1986
Portugal, Mar 29, 1961
Qatar, Sep 25, 1972
Romania, Dec 15, 1972
Russian Federation, Jun 16, 1992
Rwanda, Sep 30, 1963
Samoa, Jun 28, 1974
San Marino, Sep 21, 2000
Sao Tome and Principe, Sep 30, 1977
Saudi Arabia, Aug 26, 1957
Senegal, Aug 31, 1962
Serbia, Feb 25, 1993
Seychelles, Sep 29, 1980
Sierra Leone, Sep 10, 1962
Singapore, Aug 3, 1966
Slovak Republic, Jan 1, 1993
Slovenia, Feb 25, 1993
Solomon Islands, Sep 22, 1978
Somalia, Aug 31, 1962
South Africa, Dec 27, 1945
South Sudan, Apr 18, 2012
Spain, Sep 15, 1958
Sri Lanka, Aug 29, 1950
St. Kitts and Nevis, Aug 15, 1984
St. Lucia, Jun 27, 1980
St. Vincent and the Grenadines, Aug 31, 1982
Sudan, Sep 5, 1957
Suriname, Jun 27, 1978
Swaziland, Sep 22, 1969
Sweden, Aug 31, 1951
Switzerland, May 29, 1992
Syrian Arab Republic, Apr 10, 1947
Tajikistan, Jun 4, 1993
Tanzania, Sep 10, 1962
Thailand, May 3, 1949
Timor-Leste, Jul 23, 2002
Togo, Aug 1, 1962
Tonga, Sep 13, 1985
Trinidad and Tobago, Sep 16, 1963
Tunisia, Apr 14, 1958
Turkey, Mar 11, 1947
Turkmenistan, Sep 22, 1992
Tuvalu, Jun 24, 2010
Uganda, Sep 27, 1963
Ukraine, Sep 3, 1992
United Arab Emirates, Sep 22, 1972
United Kingdom, Dec 27, 1945
United States, Dec 27, 1945
Uruguay, Mar 11, 1946
Uzbekistan, Sep 21, 1992
Vanuatu, Sep 28, 1981
Venezuela, Republica Bolivariana de, Dec 30, 1946
Vietnam, Sep 21, 1956
Yemen, Republic of, Oct 3, 1969
Zambia, Sep 23, 1965
Zimbabwe, Sep 29, 1980

 

The World Bank
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Washington, DC 20433 USA
Tel: +1 (202) 473-1000
Fax: +1 (202) 477-6391