World Bank

The World Bank (French: Banque

mondiale)[5] is an international financial
institution that provides interest-free loans
and grants to the governments of poorer
countries for the purpose of pursuing
capital projects.[6] It comprises two
institutions: the International Bank for
Reconstruction and Development (IBRD),
and the International Development
Association (IDA). The World Bank is a
component of the World Bank Group.
 World Bank

World Bank logo

Motto Working for a World

Free of Poverty

Formation July 1945

Type Monetary International

Financial Organization

Legal status Treaty

Headquarters 1818 H Street NW,

Washington, D.C., U.S.[1]
Membership 189 countries (IBRD)[2]
173 countries (IDA)[2]
Key people David Malpass
(President)[3]
 Kristalina Georgieva
(Chief Executive Officer)

Penny Goldberg
Parent organization World Bank Group
(Chief Economist)[4]

The World Bank's most recent stated goal

is the reduction of poverty.[7] As of
November 2018, the largest recipients of
world bank loans were India ($859 million
in 2018) and China ($370 million in 2018),
through loans from IBRD.[8][9]

World Bank Group

The World Bank Group is an extended
family of five international organizations,
and the parent organization of the World
Bank, the collective name given to the first
two listed organizations, the IBRD and the
IDA:

International Bank for Reconstruction

and Development (IBRD)
International Development Association
(IDA)
International Finance Corporation (IFC)
Multilateral Investment Guarantee
Agency (MIGA)
International Centre for Settlement of
Investment Disputes (ICSID)

History
John Maynard Keynes (right) and Harry Dexter White,
the "founding fathers" of both the World Bank and the
International Monetary Fund (IMF).[10]

The World Bank was created at the 1944

Bretton Woods Conference along with the
International Monetary Fund (IMF). The
president of the World Bank is,
traditionally, an American.[11] The World
Bank and the IMF are both based in
Washington, D.C., and work closely with
each other.

The Gold Room at the Mount Washington Hotel where

the International Monetary Fund and World Bank were
established

Although many countries were

represented at the Bretton Woods
Conference, the United States and United
Kingdom were the most powerful in
attendance and dominated the
negotiations.[12]:52–54 The intention behind
the founding of the World Bank was to
provide temporary loans to low-income
countries which were unable to obtain
loans commercially.[7] The Bank may also
make loans and demand policy reforms
from recipients.[7]

1944–1947

Before 1974, the reconstruction and

development loans provided by the World
Bank were relatively small. The Bank's
staff were aware of the need to instill
confidence in the bank. Fiscal
conservatism ruled, and loan applications
had to meet strict criteria.[12]:56–60
The first country to receive a World Bank
loan was France. The Bank's president at
the time, John McCloy, chose France over
two other applicants, Poland and Chile.
The loan was for US$250 million, half the
amount requested, and it came with strict
conditions. France had to agree to produce
a balanced budget and give priority of debt
repayment to the World Bank over other
governments. World Bank staff closely
monitored the use of the funds to ensure
that the French government met the
conditions. In addition, before the loan
was approved, the United States State
Department told the French government
that its members associated with the
Communist Party would first have to be
removed. The French government
complied and removed the Communist
coalition government - the so-called
tripartite. Within hours, the loan to France
was approved.[13]

When the Marshall Plan went into effect in

1947, many European countries began
receiving aid from other sources. Faced
with this competition, the World Bank
shifted its focus to non-European
countries. Until 1968, its loans were
earmarked for the construction of
infrastructure works, such as seaports,
highway systems, and power plants, that
would generate enough income to enable
a borrower country to repay the loan. In
1960, the International Development
Association was formed (as opposed to a
UN fund named SUNFED), providing soft
loans to developing countries.

1974–1980

From 1974 to 1980 the bank concentrated

on meeting the basic needs of people in
the developing world. The size and number
of loans to borrowers was greatly
increased as loan targets expanded from
infrastructure into social services and
other sectors.[14]
These changes can be attributed to Robert
McNamara, who was appointed to the
presidency in 1968 by Lyndon B.
Johnson.[12]:60–63 McNamara implored
bank treasurer Eugene Rotberg to seek out
new sources of capital outside of the
northern banks that had been the primary
sources of funding. Rotberg used the
global bond market to increase the capital
available to the bank.[15] One consequence
of the period of poverty alleviation lending
was the rapid rise of third world debt.
From 1976 to 1980 developing world debt
rose at an average annual rate of
20%.[16][17]
In 1980 the World Bank Administrative
Tribunal was established to decide on
disputes between the World Bank Group
and its staff where allegation of non-
observance of contracts of employment or
terms of appointment had not been
honored.[18]

1980–1989

In 1980 McNamara was succeeded by US

President Jimmy Carter's nominee, Alden
W. Clausen.[19][20] Clausen replaced many
members of McNamara's staff and crafted
a different mission emphasis. His 1982
decision to replace the bank's Chief
Economist, Hollis B. Chenery, with Anne
Krueger was an example of this new
focus. Krueger was known for her criticism
of development funding and for describing
Third World governments as "rent-seeking
states".

During the 1980s the bank emphasized

lending to service Third-World debt, and
structural adjustment policies designed to
streamline the economies of developing
nations. UNICEF reported in the late 1980s
that the structural adjustment programs of
the World Bank had been responsible for
"reduced health, nutritional and
educational levels for tens of millions of
children in Asia, Latin America, and
Africa".[21]

1989–present

Beginning in 1989, in response to harsh

criticism from many groups, the bank
began including environmental groups and
NGOs in its loans to mitigate the past
effects of its development policies that
had prompted the criticism.[12]:93–97 It also
formed an implementing agency, in
accordance with the Montreal Protocols,
to stop ozone-depletion damage to the
Earth's atmosphere by phasing out the use
of 95% of ozone-depleting chemicals, with
a target date of 2015. Since then, in
accordance with its so-called "Six
Strategic Themes", the bank has put
various additional policies into effect to
preserve the environment while promoting
development. For example, in 1991 the
bank announced that to protect against
deforestation, especially in the Amazon, it
would not finance any commercial logging
or infrastructure projects that harm the
environment.

In order to promote global public goods,

the World Bank tries to control
communicable disease such as malaria,
delivering vaccines to several parts of the
world and joining combat forces. In 2000
the bank announced a "war on AIDS" and
in 2011 the Bank joined the Stop
Tuberculosis Partnership.[22]

Traditionally, based on a tacit

understanding between the United States
and Europe, the president of the World
Bank has always been selected from
candidates nominated by the United
States. In 2012, for the first time, two non-
US citizens were nominated.

On 23 March 2012, U.S. President Barack

Obama announced that the United States
would nominate Jim Yong Kim as the next
president of the Bank.[23] Jim Yong Kim
was elected on 27 April 2012 and re-
elected for a second five-year term in
2017. He announced that he will resign
effective 1 February 2019.[24] He was
replaced on an interim basis by World
Bank CEO Kristalina Georgieva.

The World Bank Group headquarters building in

Washington, D.C.
Criteria

Various developments had brought the

Millennium Development Goals targets for
2015 within reach in some cases. For the
goals to be realized, six criteria must be
met: stronger and more inclusive growth in
Africa and fragile states, more effort in
health and education, integration of the
development and environment agendas,
more as well as better aid, movement on
trade negotiations, and stronger and more
focused support from multilateral
institutions like the World Bank.[25]

1. Eradicate Extreme Poverty and

Hunger: From 1990 through 2004 the
 proportion of people living in extreme
poverty fell from almost a third to
less than a fifth. Although results vary
widely within regions and countries,
the trend indicates that the world as a
whole can meet the goal of halving
the percentage of people living in
poverty. Africa's poverty, however, is
expected to rise, and most of the 36
countries where 90% of the world's
undernourished children live are in
Africa. Less than a quarter of
countries are on track for achieving
the goal of halving under-nutrition.
2. Achieve Universal Primary
Education: The percentage of
 children in school in developing
countries increased from 80% in 1991
to 88% in 2005. Still, about 72 million
children of primary school age, 57%
of them girls, were not being
educated as of 2005.
3. Promote Gender Equality: The tide is
turning slowly for women in the labor
market, yet far more women than
men- worldwide more than 60% – are
contributing but unpaid family
workers. The World Bank Group
Gender Action Plan was created to
advance women's economic
empowerment and promote shared
growth.
4. Reduce Child Mortality: There is
some improvement in survival rates
globally; accelerated improvements
are needed most urgently in South
Asia and Sub-Saharan Africa. An
estimated 10 million-plus children
under five died in 2005; most of their
deaths were from preventable
causes.
5. Improve Maternal Health: Almost all
of the half million women who die
during pregnancy or childbirth every
year live in Sub-Saharan Africa and
Asia. There are numerous causes of
maternal death that require a variety
 of health care interventions to be
made widely accessible.
6. Combat HIV/AIDS, Malaria, and
Other Diseases: Annual numbers of
new HIV infections and AIDS deaths
have fallen, but the number of people
living with HIV continues to grow. In
the eight worst-hit southern African
countries, prevalence is above 15
percent. Treatment has increased
globally, but still meets only 30
percent of needs (with wide
variations across countries). AIDS
remains the leading cause of death in
Sub-Saharan Africa (1.6 million
deaths in 2007). There are 300 to
 500 million cases of malaria each
year, leading to more than 1 million
deaths. Nearly all the cases and more
than 95 percent of the deaths occur
in Sub-Saharan Africa.
7. Ensure Environmental Sustainability:
Deforestation remains a critical
problem, particularly in regions of
biological diversity, which continues
to decline. Greenhouse gas
emissions are increasing faster than
energy technology advancement.
8. Develop a Global Partnership for
Development: Donor countries have
renewed their commitment. Donors
 have to fulfill their pledges to match
the current rate of core program
development. Emphasis is being
placed on the Bank Group's
collaboration with multilateral and
local partners to quicken progress
toward the MDGs' realization.

To make sure that World Bank-financed

operations do not compromise these
goals but instead add to their realisation,
environmental, social and legal safeguards
were defined. However, these safeguards
have not been implemented entirely yet. At
the World Bank's annual meeting in Tokyo
2012 a review of these safeguards has
been initiated, which was welcomed by
several civil society organisations.[26]

Leadership
The President of the Bank is the president
of the entire World Bank Group. The
president is responsible for chairing
meetings of the Boards of Directors and
for overall management of the Bank.
Traditionally, the President of the Bank has
always been a US citizen nominated by the
United States, the largest shareholder in
the bank (the managing director of the
International Monetary Fund having
always been a European). The nominee is
subject to confirmation by the Board of
Executive Directors, to serve for a five-year,
renewable term. While most World Bank
presidents have had banking experience,
some have not.[27][28]

The vice presidents of the Bank are its

principal managers, in charge of regions,
sectors, networks and functions. There are
two Executive Vice presidents, three
Senior Vice presidents, and 24 Vice
presidents.[29]

The Boards of Directors consist of the

World Bank Group President and 25
Executive Directors. The President is the
presiding officer, and ordinarily has no vote
except a deciding vote in case of an equal
division. The Executive Directors as
individuals cannot exercise any power nor
commit or represent the Bank unless
specifically authorized by the Boards to do
so. With the term beginning 1 November
2010, the number of Executive Directors
increased by one, to 25.[30]

Presidents
 Name Dates Nationality Previous work

1946– Newspaper publisher and Chairman of the Federal

Eugene Meyer United States
1946 Reserve

1947–
John J. McCloy United States Lawyer and US Assistant Secretary of War
1949

1949– Bank executive with Chase and executive director

Eugene R. Black, Sr. United States
1963 with the World Bank

1963–
George Woods United States Bank executive with First Boston Corporation
1968

President of the Ford Motor Company, US Defense

1968–
Robert McNamara United States Secretary under Presidents John F. Kennedy and
1981
Lyndon B. Johnson

1981–
Alden W. Clausen United States Lawyer, bank executive with Bank of America
1986

1986–
Barber Conable United States New York State Senator and US Congressman
1991

1991–
Lewis T. Preston United States Bank executive with J.P. Morgan
1995

United States
1995– Wolfensohn was a naturalised American citizen
James Wolfensohn Australia
2005 before taking office. Corporate lawyer and banker
(prev.)

US Ambassador to Indonesia, US Deputy Secretary

of Defense, Dean of the School of Advanced
2005– International Studies (SAIS) at Johns Hopkins
Paul Wolfowitz United States
2007 University, prominent architect of 2003 invasion of
Iraq, resigned World Bank post due to ethics
scandal[31]

2007– Deputy Secretary of State and US Trade

Robert Zoellick United States
2012 Representative

United States Former Chair of the Department of Global Health

2012–
Jim Yong Kim South Korea and Social Medicine at Harvard, president of
2019
(prev.) Dartmouth College, naturalized American citizen[32]

Kristalina 2019– Bulgaria Former European Commissioner for the Budget

Georgieva 2019 and Human Resources and 2010's "European of the
(acting) Year"

2019– Under Secretary of the Treasury for International

David Malpass United States
present Affairs

Chief Economists
Name Dates Nationality

Hollis B. Chenery 1972–1982 United States

Anne Osborn Krueger 1982–1986 United States

Stanley Fischer 1988–1990 United States/Israel

Lawrence Summers 1991–1993 United States

Michael Bruno 1993–1996 Israel

Joseph E. Stiglitz 1997–2000 United States

Nicholas Stern 2000–2003 United Kingdom

François Bourguignon 2003–2007 France

Justin Yifu Lin 2008–2012 China

Kaushik Basu 2012–2016 India

Shanta Devarajan 2016–2018 United States

[33]

Members
The International Bank for Reconstruction
and Development (IBRD) has 189 member
countries, while the International
Development Association (IDA) has 173
members. Each member state of IBRD
should also be a member of the
International Monetary Fund (IMF) and
only members of IBRD are allowed to join
other institutions within the Bank (such as
IDA).[2]

Voting power

In 2010 voting powers at the World Bank

were revised to increase the voice of
developing countries, notably China. The
countries with most voting power are now
the United States (15.85%), Japan (6.84%),
China (4.42%), Germany (4.00%), the
United Kingdom (3.75%), France (3.75%),
India (2.91%),[34] Russia (2.77%), Saudi
Arabia (2.77%) and Italy (2.64%). Under the
changes, known as 'Voice Reform – Phase
2', countries other than China that saw
significant gains included South Korea,
Turkey, Mexico, Singapore, Greece, Brazil,
India, and Spain. Most developed
countries' voting power was reduced,
along with a few developing countries
such as Nigeria. The voting powers of the
United States, Russia and Saudi Arabia
were unchanged.[35][36]
The changes were brought about with the
goal of making voting more universal in
regards to standards, rule-based with
objective indicators, and transparent
among other things. Now, developing
countries have an increased voice in the
"Pool Model", backed especially by Europe.
Additionally, voting power is based on
economic size in addition to International
Development Association contributions.[37]

List of 20 largest countries by

voting power in each World
Bank institution
The following table shows the
subscriptions of the top 20 member
countries of the World Bank by voting
power in the following World Bank
institutions as of December 2014 or March
2015: the International Bank for
Reconstruction and Development (IBRD),
the International Finance Corporation
(IFC), the International Development
Association (IDA), and the Multilateral
Investment Guarantee Agency (MIGA).
Member countries are allocated votes at
the time of membership and subsequently
for additional subscriptions to capital (one
vote for each share of capital stock held
by the member).[38][39][40][41]
The 20 Largest Countries by voting power (Number of Votes)
Rank Country IBRD Country IFC Country IDA Country M

World 2,201,754 World 2,653,476 World 24,682,951 World 218

United United United United

1 358,498 570,179 2,546,503 32
States States States States

2 Japan 166,094 Japan 163,334 Japan 2,112,243 Japan 9

United
3 China 107,244 Germany 129,708 1,510,934 Germany 9
Kingdom

4 Germany 97,224 France 121,815 Germany 1,368,001 France 8

United United
5 France 87,241 121,815 France 908,843 8
Kingdom Kingdom

United Saudi
6 87,241 India 103,747 810,293 China 5
Kingdom Arabia

7 India 67,690 Russia 103,653 India 661,909 Russia 5

Saudi Saudi
8 67,155 Canada 82,142 Canada 629,658 5
Arabia Arabia

9 Canada 59,004 Italy 82,142 Italy 573,858 India 5

10 Italy 54,877 China 62,392 China 521,830 Canada 5

11 Russia 54,651 Netherlands 56,931 Poland 498,102 Italy 5

12 Spain 42,948 Belgium 51,410 Sweden 494,360 Netherlands 4

13 Brazil 42,613 Australia 48,129 Netherlands 488,209 Belgium 3

14 Netherlands 42,348 Switzerland 44,863 Brazil 412,322 Australia 3

15 Korea 36,591 Brazil 40,279 Australia 312,566 Switzerland 2

16 Belgium 36,463 Mexico 38,929 Switzerland 275,755 Brazil 2

17 Iran 34,718 Spain 37,826 Belgium 275,474 Spain 2

18 Switzerland 33,296 Indonesia 32,402 Norway 258,209 Argentina 2

Saudi
19 Australia 30,910 30,862 Denmark 231,685 Indonesia 2
Arabia

20 Turkey 26,293 Korea 28,895 Pakistan 218,506 Sweden 2

Poverty reduction strategies
For the poorest developing countries in the
world, the bank's assistance plans are
based on poverty reduction strategies; by
combining a cross-section of local groups
with an extensive analysis of the country's
financial and economic situation the World
Bank develops a strategy pertaining
uniquely to the country in question. The
government then identifies the country's
priorities and targets for the reduction of
poverty, and the World Bank aligns its aid
efforts correspondingly.

Forty-five countries pledged US$25.1

billion in "aid for the world's poorest
countries", aid that goes to the World Bank
International Development Association
(IDA), which distributes the loans to eighty
poorer countries. While wealthier nations
sometimes fund their own aid projects,
including those for diseases, and although
IDA is the recipient of criticism, Robert B.
Zoellick, the former president of the World
Bank, said when the loans were
announced on 15 December 2007, that IDA
money "is the core funding that the
poorest developing countries rely on".[42]

World Bank organizes Development

Marketplace Awards, a competitive grant
program that surfaces and funds
innovative, development projects with high
potential for development impact that are
scalable and/or replicable. The grant
beneficiaries are social enterprises with
projects that aim to deliver a range of
social and public services to the most
underserved low-income groups.

Global partnerships and

initiatives
The World Bank has been assigned
temporary management responsibility of
the Clean Technology Fund (CTF), focused
on making renewable energy cost-
competitive with coal-fired power as
quickly as possible, but this may not
continue after UN's Copenhagen climate
change conference in December 2009,
because of the Bank's continued
investment in coal-fired power plants.[43]
(In December 2017, Kim announced the
World Bank would no longer finance fossil
fuel development.)

Together with the World Health

Organization, the World Bank administers
the International Health Partnership
(IHP+). IHP+ is a group of partners
committed to improving the health of
citizens in developing countries. Partners
work together to put international
principles for aid effectiveness and
development cooperation into practice in
the health sector. IHP+ mobilizes national
governments, development agencies, civil
society and others to support a single,
country-led national health strategy in a
well-coordinated way.

Climate change

World Bank President Jim Yong Kim said

in 2012 that:

"A 4 degree warmer world can, and must

be, avoided – we need to hold warming
below 2 degrees ... Lack of action on
climate change threatens to make the
world our children inherit a completely
different world than we are living in
today. Climate change is one of the
single biggest challenges facing
development, and we need to assume
the moral responsibility to take action
on behalf of future generations,
especially the poorest."[44] A World Bank
report into Climate change in 2012
noted that (p. xiii): "Even with the current
mitigation commitments and pledges
fully implemented, there is roughly a 20
percent likelihood of exceeding 4 °C by
2100." This is despite the fact that the
"global community has committed itself
 to holding warming below 2 °C to
prevent 'dangerous' climate change".
Furthermore: "A series of recent extreme
events worldwide highlight the
vulnerability of all countries ... No nation
will be immune to the impacts of
climate change."[45]

The World Bank doubled its aid for climate

change adaptation from $2.3bn (£1.47bn)
in 2011 to $4.6bn in 2012. The planet is
now 0.8 °C warmer than in pre-industrial
times. It says that 2 °C warming will be
reached in 20 to 30 years.[46][47]

In December 2017, Kim announced the

World Bank would no longer finance fossil
fuel development.[48]

Food security

1. Global Food Security Program:

Launched in April 2010, six countries
alongside the Bill and Melinda Gates
Foundation have pledged $925
million for food security. To date, the
program has helped eight countries,
promoting agriculture, research, trade
in agriculture, etc.
2. Launched Global Food Crisis
Response Program: Given grants to
approximately 40 nations for seeds,
etc. for improving productivity.
 3. In process of increasing its yearly
spending for agriculture to $6–8
billion from earlier $4 billion.
4. Runs several nutrition program
across the world, e.g., vitamin A
doses for children, school meals, etc.

Training wings
Global Operations Knowledge
Management Unit

The World Bank Institute (WBI) was a

"global connector of knowledge, learning
and innovation for poverty reduction". It
aimed to inspire change agents and
prepare them with essential tools that can
help achieve development results. WBI had
four major strategies to approach
development problems: innovation for
development, knowledge exchange,
leadership and coalition building, and
structured learning. World Bank Institute
(WBI) was formerly known as Economic
Development Institute (EDI), established
on 11 March 1955 with the support of the
Rockefeller and Ford Foundations. The
purpose of the institute was to serve as
provide an open place where senior
officials from developing countries could
discuss development policies and
programs. Over the years, EDI grew
significantly and in 2000, the Institute was
renamed as the World Bank Institute.
Sanjay Pradhan is the past Vice President
of the World Bank Institute.[49]As of 2019,
The World Bank Institute functions have
been mostly encapsulated by a new unit
Global Operations Knowledge
Management Unit (GOKMU) which is now
responsible for knowledge management
and learning across the Bank.

Global Development Learning

Network

The Global Development Learning Network

(GDLN) is a partnership of over 120
learning centers (GDLN Affiliates) in nearly
80 countries around the world. GDLN
Affiliates collaborate in holding events that
connect people across countries and
regions for learning and dialogue on
development issues.

GDLN clients are typically NGOs,

government, private sector and
development agencies who find that they
work better together on subregional,
regional or global development issues
using the facilities and tools offered by
GDLN Affiliates. Clients also benefit from
the ability of Affiliates to help them choose
and apply these tools effectively, and to
tap development practitioners and experts
worldwide. GDLN Affiliates facilitate
around 1000 videoconference-based
activities a year on behalf of their clients,
reaching some 90,000 people worldwide.
Most of these activities bring together
participants in two or more countries over
a series of sessions. A majority of GDLN
activities are organized by small
government agencies and NGOs.

GDLN Asia Pacific

The GDLN in the East Asia and Pacific

region has experienced rapid growth and
Distance Learning Centers now operate, or
are planned in 20 countries: Australia,
Mongolia, Cambodia, China, Indonesia,
Singapore, Philippines, Sri Lanka, Japan,
Papua New Guinea, South Korea, Thailand,
Laos, Timor Leste, Fiji, Afghanistan,
Bangladesh, India, Nepal and New
Zealand. With over 180 Distance Learning
Centers, it is the largest development
learning network in the Asia and Pacific
region. The Secretariat Office of GDLN
Asia Pacific is located in the Center of
Academic Resources of Chulalongkorn
University, Bangkok, Thailand.

GDLN Asia Pacific was launched at the

GDLN's East Asia and Pacific regional
meeting held in Bangkok from 22 to 24
May 2006. Its vision is to become "the
premier network exchanging ideas,
experience and know-how across the Asia
Pacific Region". GDLN Asia Pacific is a
separate entity to The World Bank. It has
endorsed its own Charter and Business
Plan and, in accordance with the Charter, a
GDLN Asia Pacific Governing Committee
has been appointed.

The committee comprises China (2),

Australia (1), Thailand (1), The World Bank
(1) and finally, a nominee of the
Government of Japan (1). The
organization is currently hosted by
Chulalongkorn University in Bangkok,
Thailand, founding member of the GDLN
Asia Pacific.

The Governing Committee has determined

that the most appropriate legal status for
the GDLN AP in Thailand is a "Foundation".
The World Bank is currently engaging a
solicitor in Thailand to process all
documentation in order to obtain this legal
status.

GDLN Asia Pacific is built on the principle

of shared resources among partners
engaged in a common task, and this is
visible in the organizational structures that
exist, as the network evolves. Physical
space for its headquarters is provided by
the host of the GDLN Centre in Thailand –
Chulalongkorn University; Technical
expertise and some infrastructure is
provided by the Tokyo Development
Learning Centre (TDLC); Fiduciary services
are provided by Australian National
University (ANU) Until the GDLN Asia
Pacific is established as a legal entity tin
Thailand, ANU, has offered to assist the
governing committee, by providing a
means of managing the inflow and outflow
of funds and of reporting on them. This
admittedly results in some complexity in
contracting arrangements, which need to
be worked out on a case by case basis and
depends to some extent on the legal
requirements of the countries involved.

JUSTPAL Network

A Justice Sector Peer-Assisted Learning

(JUSTPAL) Network was launched in April
2011 by the Poverty Reduction and
Economic Management (PREM)
Department of the World Bank's Europe
and Central Asia (ECA) Region. The
JUSTPAL objective is to provide an online
and offline platform for justice
professionals to exchange knowledge,
good practices and peer-driven
improvements to justice systems and
thereby support countries to improve their
justice sector performance, quality of
justice and service delivery to citizens and
businesses.

The JUSTPAL Network includes

representatives of judiciaries, ministries of
justice, prosecutors, anti-corruption
agencies and other justice-related entities
from across the globe. The Network
currently has active members from more
than 50 countries.

To facilitate fruitful exchange of reform

experiences and sharing of applicable
good practices, the JUSTPAL Network has
organized its activities under (currently)
five Communities of Practice (COPs): (i)
Budgeting for the Justice Sector; (ii)
Information Systems for Justice Services;
(iii) Justice Sector Physical Infrastructure;
(iv) Court Management and
Administration; and (v) Prosecution and
Anti-Corruption Agencies.

Country assistance strategies

As a guideline to the World Bank's
operations in any particular country, a
Country Assistance Strategy is produced,
in cooperation with the local government
and any interested stakeholders and may
rely on analytical work performed by the
Bank or other parties.

Clean Air Initiative

Clean Air Initiative (CAI) is a World Bank
initiative to advance innovative ways to
improve air quality in cities through
partnerships in selected regions of the
world by sharing knowledge and
experiences. It includes electric
vehicles.[50] Initiatives like this help
address and tackle pollution-related
diseases.

United Nations Development

Business
Based on an agreement between the
United Nations and the World Bank in
1981, Development Business became the
official source for World Bank
Procurement Notices, Contract Awards,
and Project Approvals.[51]

In 1998, the agreement was re-negotiated,

and included in this agreement was a joint
venture to create an electronic version of
the publication via the World Wide Web.
Today, Development Business is the
primary publication for all major
multilateral development banks, United
Nations agencies, and several national
governments, many of whom have made
the publication of their tenders and
contracts in Development Business a
mandatory requirement.[51]

The World Bank or the World Bank Group

is also a sitting observer in the United
Nations Development Group.[52]

Open data initiative

The World Bank collects and processes
large amounts of data and generates them
on the basis of economic models. These
data and models have gradually been
made available to the public in a way that
encourages reuse,[53] whereas the recent
publications describing them are available
as open access under a Creative
Commons Attribution License, for which
the bank received the SPARC Innovator
2012 award.[54]

The World Bank also endorses the

Principles for Digital Development.[55]

Grants table
The following table lists the top 15 DAC 5
Digit Sectors[56] to which the World Bank
has committed funding, as recorded by it
in its International Aid Transparency
Initiative (IATI) publications. The World
Bank states on the IATI Registry website
that the amounts "will cover 100% of IBRD
and IDA development flows" but will not
cover other development flows.[57]
 Committed funding (US$ millions)

Before
Sector 2007 2008 2009 2010 2011 2012 2013
2007

Road transport 4,654.2 1,993.5 1,501.8 5,550.3 4,032.3 2,603.7 3,852.5 2,883.

Social/ welfare
613.1 208.1 185.5 2,878.4 1,477.4 1,493.2 1,498.5 2,592.
services

Electrical
transmission/ 1,292.5 862.1 1,740.2 2,435.4 1,465.1 907.7 1,614.9 395.
distribution

Public finance
334.2 223.1 499.7 129.0 455.3 346.6 3,156.8 2,724.
management

Rail transport 279.3 284.4 1,289.0 912.2 892.5 1,487.4 841.8 740.

Rural
335.4 237.5 382.8 616.7 2,317.4 972.0 944.0 177.
development

Urban
development
261.2 375.9 733.3 739.6 542.1 1,308.1 914.3 258.
and
management

Business
support
113.3 20.8 721.7 181.4 363.3 514.0 310.0 760.
services and
institutions

Energy policy
and
102.5 243.0 324.9 234.2 762.0 654.9 902.1 480.
administrative
management

Agricultural
733.2 749.5 84.6 251.8 780.6 819.5 618.3 1,040.
water resources

Decentralisation
and support to
904.5 107.9 176.1 206.7 331.2 852.8 880.6 466.
subnational
government

Disaster 66.9 2.7 260.0 9.0 417.2 609.5 852.9 373.

prevention and
preparedness

Sanitation -
441.9 679.7 521.6 422.0 613.1 1,209.4 268.0 55.
large systems

Water supply -
646.5 438.1 298.3 486.5 845.1 640.2 469.0 250.
large systems

Health policy
and
661.3 54.8 285.8 673.8 1,581.4 799.3 251.5 426.
administrative
management

Other 13,162.7 6,588.3 8,707.1 11,425.7 17,099.5 11,096.6 16,873.4 13,967.

Total 24,602.6 13,069.4 17,712.6 27,152.6 33,975.6 26,314.8 34,248.6 27,593.

Open Knowledge Repository

The World Bank hosts the Open
Knowledge Repository (OKR)[58] as an
official open access repository for its
research outputs and knowledge products.
The World Bank's repository is listed in the
Registry of Research Data Repositories
re3data.org.[59]
Criticisms and controversy
The World Bank has long been criticized by
non-governmental organizations, such as
the indigenous rights group Survival
International, and academics, including
Henry Hazlitt, Ludwig Von Mises, and its
former Chief Economist Joseph
Stiglitz.[60][61][62] Henry Hazlitt argued that
the World Bank along with the monetary
system it was designed within would
promote world inflation and "a world in
which international trade is State-
dominated" when they were being
advocated.[63] Stiglitz argued that the so-
called free market reform policies that the
Bank advocates are often harmful to
economic development if implemented
badly, too quickly ("shock therapy"), in the
wrong sequence or in weak, uncompetitive
economies.[61][64] Similarly, Carmine
Guerriero notices that these reforms have
introduced in developing countries
regulatory institutions typical of the
common law legal tradition because
allegedly more efficient according to the
legal origins theory. The latter however
has been fiercely criticized since it does
not take into account that the legal
institutions transplanted during the
European colonization have been then
reformed.[65] This issue makes the legal
origins theory's inference unreliable and
the World Bank reforms detrimental.[66]

One of the most common criticisms of the

World Bank has been the way in which it is
governed. While the World Bank
represents 188 countries, it is run by a
small number of economically powerful
countries. These countries (which also
provide most of the institution's funding)
choose the leadership and senior
management of the World Bank, and their
interests dominate the bank.[67]:190 Titus
Alexander argues that the unequal voting
power of western countries and the World
Bank's role in developing countries makes
it similar to the South African Development
Bank under apartheid, and therefore a
pillar of global apartheid.[68]:133–141

In the 1990s, the World Bank and the IMF

forged the Washington Consensus,
policies that included deregulation and
liberalization of markets, privatization and
the downscaling of government. Though
the Washington Consensus was conceived
as a policy that would best promote
development, it was criticized for ignoring
equity, employment and how reforms like
privatization were carried out. Joseph
Stiglitz argued that the Washington
Consensus placed too much emphasis on
the growth of GDP, and not enough on the
permanence of growth or on whether
growth contributed to better living
standards.[62]:17

The United States Senate Committee on

Foreign Relations report criticized the
World Bank and other international
financial institutions for focusing too
much "on issuing loans rather than on
achieving concrete development results
within a finite period of time" and called on
the institution to "strengthen anti-
corruption efforts".[69]
James Ferguson has argued that the main
effect of many development projects
carried out by the World Bank and similar
organizations is not the alleviation of
poverty. Instead the projects often serve to
expand the exercise of bureaucratic state
power. Through his case-studies of
development projects in Thaba-Tseka he
shows that the World Bank's
characterization of the economic
conditions in Lesotho was flawed, and the
Bank ignored the political and cultural
character of the state in crafting their
projects. As a result, the projects failed to
help the poor, but succeeded in expanding
the government bureaucracy.[70]
Criticism of the World Bank and other
organizations often takes the form of
protesting, such as the World Bank Oslo
2002 Protests,[71] the 2007 October
Rebellion,[72] and the 1999 Battle of
Seattle.[73] Such demonstrations have
occurred all over the world, even among
the Brazilian Kayapo people.[74]

Another source of criticism has been the

tradition of having an American head the
bank, implemented because the United
States provides the majority of World Bank
funding. "When economists from the
World Bank visit poor countries to
dispense cash and advice", observed The
Economist in 2012, "they routinely tell
governments to reject cronyism and fill
each important job with the best candidate
available. It is good advice. The World
Bank should take it."[75] Jim Yong Kim, a
Korean-American, is the most recently
appointed president of the World Bank.[76]

Structural adjustment

The effect of structural adjustment

policies on poor countries has been one of
the most significant criticisms of the
World Bank.[77] The 1979 energy crisis
plunged many countries into economic
crisis.[78]:68 The World Bank responded
with structural adjustment loans, which
distributed aid to struggling countries
while enforcing policy changes in order to
reduce inflation and fiscal imbalance.
Some of these policies included
encouraging production, investment and
labour-intensive manufacturing, changing
real exchange rates and altering the
distribution of government resources.
Structural adjustment policies were most
effective in countries with an institutional
framework that allowed these policies to
be implemented easily. For some
countries, particularly in Sub-Saharan
Africa, economic growth regressed and
inflation worsened. The alleviation of
poverty was not a goal of structural
adjustment loans, and the circumstances
of the poor often worsened, due to a
reduction in social spending and an
increase in the price of food, as subsidies
were lifted.[78]:69

By the late 1980s, international

organizations began to admit that
structural adjustment policies were
worsening life for the world's poor. The
World Bank changed structural adjustment
loans, allowing for social spending to be
maintained, and encouraging a slower
change to policies such as transfer of
subsidies and price rises.[78]:70 In 1999, the
World Bank and the IMF introduced the
Poverty Reduction Strategy Paper
approach to replace structural adjustment
loans.[79]:147 The Poverty Reduction
Strategy Paper approach has been
interpreted as an extension of structural
adjustment policies as it continues to
reinforce and legitimize global inequities.
Neither approach has addressed the
inherent flaws within the global economy
that contribute to economic and social
inequities within developing
countries.[79]:152

Fairness of assistance
conditions
Some critics,[80] most prominently the
author Naomi Klein, are of the opinion that
the World Bank Group's loans and aid have
unfair conditions attached to them that
reflect the interests, financial power and
political doctrines (notably the Washington
Consensus) of the Bank and, by extension,
the countries that are most influential
within it. Among other allegations, Klein
says the Group's credibility was damaged
"when it forced school fees on students in
Ghana in exchange for a loan; when it
demanded that Tanzania privatise its
water system; when it made telecom
privatisation a condition of aid for
Hurricane Mitch; when it demanded labour
'flexibility' in Sri Lanka in the aftermath of
the Asian tsunami; when it pushed for
eliminating food subsidies in post-invasion
Iraq".[81]

Sovereign immunity

The World Bank requires sovereign

immunity from countries it deals
with.[82][83][84] Sovereign immunity waives a
holder from all legal liability for their
actions. It is proposed that this immunity
from responsibility is a "shield which The
World Bank wants to resort to, for
escaping accountability and security by
the people".[82] As the United States has
veto power, it can prevent the World Bank
from taking action against its interests.[82]

PricewaterhouseCoopers

World Bank favored

PricewaterhouseCoopers as a consultant
in a bid for privatizing the water
distribution in Delhi, India[85]

See also
BRICS Development Bank
Clean Energy for Development
Investment Framework
 Democracy Ranking
Energy Sector Management Assistance
Program (ESMAP)
Russia-World Bank relations
All pages with titles containing World
Bank

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Further reading
 Salda, Anne C. M., ed. Historical
dictionary of the World Bank (1997)
[https://web.archive.org/web/20130712
160429/http://archive/

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