Jeron:

The World Bank is an international financial institution that provides loans and grants to the
governments of poorer countries for the purpose of pursuing capital projects.[5] 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.

Inventors of world bank

John Maynard Keynes, 1st Baron Keynes[2] CB FBA (/keɪnz/ KAYNZ; 5 June 1883 – 21 April 1946), was a
British economist, whose ideas fundamentally changed the theory and practice of macroeconomics and
the economic policies of governments. Originally trained in mathematics, he built on and greatly refined
earlier work on the causes of business cycles, and was one of the most influential economists of the
20th century.[3][4] His ideas are the basis for the school of thought known as Keynesian economics, and
its various offshoots.[5]

During the Great Depression of the 1930s, Keynes spearheaded a revolution in economic thinking,
challenging the ideas of neoclassical economics that held that free markets would, in the short to
medium term, automatically provide full employment, as long as workers were flexible in their wage
demands. He argued that aggregate demand (total spending in the economy) determined the overall
level of economic activity, and that inadequate aggregate demand could lead to prolonged periods of
high unemployment. Keynes advocated the use of fiscal and monetary policies to mitigate the adverse
effects of economic recessions and depressions. He detailed these ideas in his magnum opus, The
General Theory of Employment, Interest and Money, published in 1936. By the late 1930s, leading
Western economies had begun adopting Keynes's policy recommendations. Almost all capitalist
governments had done so by the end of the two decades following Keynes's death in 1946. As a leader
of the British delegation, Keynes participated in the design of the international economic institutions
established after the end of World War II but was overruled by the American delegation on several
aspects.

Keynes's influence started to wane in the 1970s, partly as a result of the stagflation that plagued the
Anglo-American economies during that decade, and partly because of criticism of Keynesian policies by
Milton Friedman and other monetarists,[6] who disputed the ability of government to favourably
regulate the business cycle with fiscal policy.[7] However, the advent of the global financial crisis of
2007–2008 sparked a resurgence in Keynesian thought. Keynesian economics provided the theoretical
underpinning for economic policies undertaken in response to the financial crisis of 2007–2008 by
President Barack Obama of the United States, Prime Minister Gordon Brown of the United Kingdom, and
other heads of governments.[8]

When Time magazine included Keynes among its Most Important People of the Century in 1999, it
stated that "his radical idea that governments should spend money they don't have may have saved
capitalism."[9] The Economist has described Keynes as "Britain's most famous 20th-century
economist."[10] In addition to being an economist, Keynes was also a civil servant, a director of the Bank
of England, and a part of the Bloomsbury Group of intellectuals.[11]

Harry Dexter White (October 29, 1892 – August 16, 1948) was a senior U.S. Treasury department
official. Working closely with the Secretary of the Treasury Henry Morgenthau, Jr., he helped set
American financial policy toward the Allies of World War II. He was later accused of espionage by
passing information to the Soviet Union.[1]

He was a senior American official at the 1944 Bretton Woods conference that established the postwar
economic order. He dominated the conference and imposed his vision of post-war financial institutions
over the objections of John Maynard Keynes, the British representative. At Bretton Woods, White was a
major architect of the International Monetary Fund and World Bank.

White was accused in 1948 of spying for the Soviet Union, which he adamantly denied. Although he was
never a Communist party member, his status as a Soviet informant was confirmed by declassified FBI
documents related to the interception and decoding of Soviet communications, known as the Venona
Project.

What country has the largest shareholders of World Bank?

The U.S. is the largest shareholder of the World Bank with 17.25% of its capital shares. Every World Bank
president since its inception has been a U.S. citizen.

Judilyn:

Origins of the World Bank

Founded in 1944 at the UN Monetary and Financial Conference (commonly known as the Bretton Woods
Conference), which was convened to establish a new, post-World War II international economic system,
the World Bank officially began operations in June 1946. Its first loans were geared toward the postwar
reconstruction of western Europe. Beginning in the mid-1950s, it played a major role in financing
investments in infrastructural projects in developing countries, including roads, hydroelectric dams,
water and sewage facilities, maritime ports, and airports.

The World Bank Group comprises five constituent institutions: the International Bank for Reconstruction
and Development (IBRD), the International Development Association (IDA), the International Finance
Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre
for Settlement of Investment Disputes (ICSID). The IBRD provides loans at market rates of interest to
middle-income developing countries and creditworthy lower-income countries. The IDA, founded in
1960, provides interest-free long-term loans, technical assistance, and policy advice to low-income
developing countries in areas such as health, education, and rural development. Whereas the IBRD
raises most of its funds on the world’s capital markets, the IDA’s lending operations are financed
through contributions from developed countries. The IFC, operating in partnership with private
investors, provides loans and loan guarantees and equity financing to business undertakings in
developing countries. Loan guarantees and insurance to foreign investors against loss caused by
noncommercial risks in developing countries are provided by the MIGA. Finally, the ICSID, which
operates independently of the IBRD, is responsible for the settlement by conciliation or arbitration of
investment disputes between foreign investors and their host developing countries.

Facts about the World Bank

Currently, the membership of the world bank is given to 189 countries under IBRD and 173 countries
under IDA.

Organizations like MIGA, IFC, and ICSID manages the World bank

Also, the world has it’s headquarters situated in Washington DC and has more than 10000 staff all over
the world.

So, the formation of world bank was done Bretton Woods committee that was held in 1944.

Alongside the IMF, it was launched in the presence of many important delegates.

Jonathan

Ceo of World bank (2020)

Mari Pangestu Appointed World Bank Managing Director of Development Policy and
PartnershipsWASHINGTON, January 9, 2020—World Bank Group President David Malpass today
announced the appointment of Mari Pangestu as Managing Director, Development Policy and
Partnerships for the World Bank. Ms Pangestu joins the Bank with exceptional policy and
management expertise, having served as Indonesia’s Minister of Trade from 2004 to 2011 and as
Minister of Tourism and Creative Economy from 2011 until October 2014.

“We’re very pleased to welcome Mari to the Bank in this critical new role for the institution,” said
Malpass. “Her experience as a senior Minister, her globally recognized credentials as an economist
and researcher, along with her extensive leadership experience and engagement in key international
forums on important development issues, will greatly benefit our urgent work at the World Bank
Group in support of broad-based growth and poverty reduction.”

Ms Pangestu is currently a Senior Fellow at Columbia School of International and Public Affairs, as well
as Professor of International Economics at the University of Indonesia, adjunct professor at the Lee
Kuan Yew School of Public Policy and Crawford School of Public Policy, Australian National
University.and a Board Member of Indonesia Bureau of Economic Research (IBER) as well as Centre
for Strategic and International Studies (CSIS), Jakarta.

Upon accepting the appointment Ms Pangestu said: “It is a great honor to be joining the World Bank
in its vital development mission. I look forward to the opportunity to work with this strong team on
the urgent challenges facing the World Bank’s members”.

Ms Pangestu is highly regarded as an international expert on a range of global issues. She currently is
Chairperson of the Board of Trustees of the International Food Policy Research Institute (IFPRI) in
Washington D.C and is also active as advisor to the Global Commission on the Geopolitics of Energy
Transformation of International Renewable Energy Agency (IRENA) in Abu Dhabi. Her record of board
and task force service includes the Leadership Council of the UN Sustainable Development Solutions
Network (SDSN), co-chair of the expert group for the High Level Panel for a Sustainable Ocean
Economy, the panel of the WHO health initiative, the Equal Access Initiative, commissioner for the
Low Carbon Development Initiative of Indonesia and executive board member of the International
Chamber of Commerce (ICC).

In her new role Ms Pangestu will provide leadership to and oversee the work program of the World
Bank’s Global Practice Groups. In addition, she will also oversee the research and data group of the
World Bank (DEC) and the External and Corporate Relations function.

Her appointment is effective March 1, 2020.

Trisha mae:
Functions of the World Bank

 It helps the war-devasted countries by granting them loans for reconstruction.

 Thus, they provide extensive experience and the financial resources of the bank help the poor
countries increase their economic growth, reducing poverty and a better standard of living.

 Also, it helps the underdeveloped countries by granting development loans.

 So, it also provides loans to various governments for irrigation, agriculture, water supply, health,
education, etc.

 It promotes foreign investments to other organizations by guaranteeing the loans.

 Also, the world bank provides economic, monetary, and technical advice to the member
countries for any of their projects.

 Thus, it encourages the development of of-industries in underdeveloped countries by

introducing the various economic reforms.

Objectives of the World Bank

 This includes providing long term capital to its member nations for economic development and
reconstruction.

 Thus, it helps in inducing long term capital for improving the balance of payments and thereby
balancing international trade.
  Also, it helps by providing guarantees against loads granted to large and small units and other
projects for the member nations.

 So, it ensures that the development projects are implemented. Thus, it brings a sense of
transparency for a nation from war-time to a peaceful economy.

 Also, it promotes the capital investment for member nations by providing a guarantee for
capital investment and loans.

 So, if the capital investment is not available than it provides the guarantee and then IBRD
provides loans for promotional activities on specific conditions.

Purposes of the World Bank

 It wants to create an environment that is a pro-investment.

 Also, it wants to improve the omic stability by reducing poverty.

 So, it is working towards achieving sustainable growth.

 Increasing the opportunities for jobs and business in member nations which are
underdeveloped.

 Through investment, it plans to promote the socio-economic status of the society.

 Also, it wants to ensure that the judicial and legal systems are developed and individual rights
are protected.
  Strengthing the government of its member nations by promoting education.

 Combating corruption and to ensure that there are adequate training opportunities and
research facilities.

 It wants to provide loans with low-interest rates and interest-free credits.

Shania:

Importance of World Bank

The World Bank promotes long-term economic development and poverty reduction by providing
technical and financial support to help countries reform certain sectors or implement specific projects—
such as building schools and health centers, providing water and electricity, fighting disease, and
protecting the environment

Benefits of World Bank

 The World Bank Group offers competitive salaries and benefits to match a compelling career
choice. Salaries are internationally competitive and based upon education qualifications and
professional experience.

 Health, Life, Accident, and Other Insurance Programs

 Headquarters-recruited staff and their eligible family members (including domestic partners)
may choose from three comprehensive medical/dental benefit plans, with no pre-existing
condition exclusions if enrollment is made within 60 days of entry-on-duty. Staff members
recruited to a Country Office are eligible for a comprehensive medical/dental benefits plan for
themselves and eligible family members, including domestic partners.

 The World Bank Group provides basic life and accident insurance to all staff at no cost.
Headquarters-recruited staff can elect additional life and accident insurance coverage at their
own expense.
  Disability and worker's compensation coverage is provided to all staff at no cost.

Pension Plan

 The World Bank Group sponsors a comprehensive pension plan for all staff. Staff and the World
Bank Group make contributions toward a pension that is used upon retirement.

 Relocation, Resettlement, and Expatriate Benefits For staff appointed to positions subject to
international recruitment, the World Bank Group pays relocation benefits upon appointment
and resettlement benefits upon end of employment. The World Bank also pays a mobility
premium to eligible expatriate staff appointed to positions at headquarters subject to
international recruitment, with eligibility based on nationality and visa/residency status in the
appointment duty station. (Staff members appointed to non-headquarters positions subject to
international recruitment may be eligible for other expatriate benefits.)

 Paid Leave: New staff receive 26 days of annual leave and 15 days of sick leave per year, accrued
daily.

 Work/Life Balance
 The WBG makes an effort to help staff achieve balance in their work and personal lives.
 The Bank strives to offer flexible work arrangements to provide a better work/life balance for
staff. Some of the programs that are offered include telecommuting, alternate and reduced
work schedules, flextime, job sharing and home-based work. These arrangements are based on
the discretion of the hiring manager, the business needs of the institution, and the specifics of
each individual.

 In addition, the Bank headquarters offers other services to assist in achieving work/life balance:

 Health Services Department: An on-site Health Services Department provides consultation and
treatment for minor ailments or injuries during the work day and clinical services related to
work assignments (such as pre-employment evaluations and travel medicine), as well as
preventive care services. The department has a Health Promotion Program offering a wide range
of ongoing programs and scheduled activities to encourage good health habits for staff and
families.
Fitness Center: The Bank’s fitness center is fully supplied with state-of-the-art exercise equipment,
locker rooms, showers, saunas, and exercise studios to promote and maintain the good health, morale,
and productivity of staff.

Child Care: The World Bank Group recognizes that for many staff quality child care is a high priority. Our
Children’s Center provides high quality services in this area. In addition, backup child care is available to
staff members who need emergency or temporary child care.

Lactation Room: Rooms for nursing mothers are available in a number of World Bank Group office

Wena:

negative effects of WB

Negative effects of World bank

Flawed Conditions :

1. The private interests promoted by the bank and fund cannot always be understood in this light and
there is a high decree of cooperation between the bank and fund and other multilateral institutions,
including those stablished by China and other developing countries.

2.Democratic governance- one of fhe central critisism of the world bank and imf relates to the political
powef imbalance in their governance structures where as a desult of voting shares being based
principally on the size and openness of countries, economies, poorer countries.

- low income countries that find it difficult to attract capital at affordable rates, therefore potentially
limiting (or increasing) countries financing options.

3.Biased and inconsistent decision making- the imf's decision to break its own rules and support the
highly controversial Greek loan programme.

4.Human rights- they have undermined a broad spectrum of human rights.

- include reducing the public wage bill, introducing or increasing VAT and other indirect regressive
taxes in particular, labour flexibilisation, rationalising and privatising social services, while maintaining
low levels of inflation, corporate taxation rates and trade tariffs.
5.Environments- climate change is a result of the greatest market failure the world has seen.

- with the bank continuing to fund a considerable number of fossil fuel projects in the year after the
Paris Climate Agreement was signed in 2015,which saw countries jointly commit to limit average global
temperature rise to well below 2c relatively to pre industrial levels.

Criticisms of the World Bank

The World Bank claims that its major goal is to promote global development through poverty reduction,
but there are many critics who argue this is a smoke-screen, and the real aim of the World Bank is to use
conditional loans in exchange for countries establishing neoliberal economic policies which ultimately
benefit western companies and financial institutions.

Ha-Joon Chang (2007) for example argues that the World Bank (and the IMF) present themselves as a
‘good Samaritans’ whose only motives are to assist the developing world, but they are actually ‘bad
Samaritans’ because their motives are essentially selfish.

Chang argues that the real point of the World Bank (along with IMF and the WTO) is to create a policy
environment in the developing world that is friendly to Transnational Corporations, an environment
which benefits TNCs and small groups of elites in developing countries, but results in deteriorating social
development for the majority of the people.

John Pilger in ‘The New Rulers of the World‘ puts it more bluntly:

Pliger argues that the World Bank (along with the International Monetary Fund) is the agent of the
richest countries on earth, especially America, and its function is to offer loans to poor countries, but
only if they privatise their economies and allow western companies free access to their raw materials
and markets.

The World Bank says its aim is to help poor people, calling this global development, but in reality, the
effects of its policies are that the rich get richer on running up debt, cheap labour and paying as little tax
as possible, while the poor get poorer as their jobs and public services are cut to pay just the interest on
the debt owed to the World Bank.
The documentary also claims that the bank operated during the entire cold war as an institution which
distributed money to mainly authoritarian regimes in the third world that supported the West in the
Cold War

Kristine joy:

Debt of countries in the World Bank

Debt Stocks of Developing Countries Rose to $7.8 Trillion in 2018: World Bank International Debt
Statistics

Net Debt Flows Fell 28% to $529 Billion; Debt Burdens Rising

WASHINGTON, Oct. 2, 2019—Total external debt of low- and middle-income countries climbed 5.3
percent to $7.8 trillion last year, while net debt flows (gross disbursements minus principal payments)
from external creditors tumbled 28 percent to $529 billion, the World Bank’s International Debt
Statistics 2020 shows.

Although on average the external debt burden of low- and middle-income countries was moderate,
several countries have been on a deteriorating debt trajectory since 2009, the report indicates. The
share of low- and middle-income countries with debt-to-GNI ratios below 30 percent has shrunk to 25
percent, down from 42 percent ten years ago. Similarly, the share of countries with high debt-to-export
ratios has climbed.

“To grow faster, many developing countries need more investment that meets their development
goals,” World Bank Group President David Malpass said. “Debt transparency should extend to all forms
of government commitments, both explicit and implicit. Transparency is a critical part of attracting more
investment and building an efficient allocation of capital, and these are essential in our work to improve
development outcomes.”

Debt stocks were driven up by a 15 percent jump in China, fueled by investor appetite for renminbi-
denominated assets. Excluding the ten largest borrowers (Argentina, Brazil, China, India, Indonesia,
Mexico, the Russian Federation, South Africa, Thailand, and Turkey), external debt stocks rose 4 percent.
Sub-Saharan countries excluding South Africa saw debts stocks swell by 8 percent on average in 2018,
and over half the countries in the region have seen external debt stocks double since 2009.
Net debt inflows to low- and middle-income countries from multilateral creditors surged 86 percent,
principally due to the International Monetary Fund’s support for Argentina. Excluding that loan, net
inflows from multilateral creditors to other low- and middle-income countries were unchanged from the
previous year. Lending from non-Paris Club creditors to countries eligible to borrow from the World
Bank’s International Development Association (IDA), its fund for the poorest countries, slowed. The
share of new commitments from non-Paris Club bilateral creditors fell to 17 percent (a continued
decline from 43 percent in 2010) while the share held by Paris Club bilateral creditors remained steady
at 12 percent.

This edition of International Debt Statistics features for the first time a breakdown of public and publicly
guaranteed debt -- government and other public sector debt, as well as private debt that is government
guaranteed. As a result, information is available not only about government debt but also the explicit
contingent liabilities of governments.

“Borrowing patterns and debt instruments have changed over time, and so has the depth and scope of
International Debt Statistics,” said World Bank Development Economics Data Group Director Haishan Fu.
“What has not changed is the core objective of the report: providing comprehensive, timely data on the
external debt of low- and middle-income countries to support debt management and related policy
decisions.”

Bond issuance by low- and middle-income countries – a primary source of external financing for some
countries -- fell 26 percent to $302 billion in 2018 amid heightened global uncertainty, tighter capital
markets, and credit ratings downgrades. However, Sub-Saharan countries excluding South Africa issued
a record-high $17 billion in bonds. Issues in 2018 were characterized by longer maturities and all were
oversubscribed.

Net financial flows to low- and middle-income countries – including both debt and equity – slipped 19
percent in 2018 to $1 trillion. Excluding China, which accounts for half of net debt flows and 43 percent
of net equity flows, net financial flows to low- and middle-income countries tumbled 28 percent

Mary ann

Members of the World Bank

The following is a list of the 189 members of the World Bank:

Country / Date of Membership

Afghanistan, Jul 14, 1995

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, The 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

Cabo Verde, Nov 20, 1978

Cambodia, Jul 22, 1970

Cameroon, Jul 10, 1963

Canada, Dec 27, 1945

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

Eswatini, Sep 22, 1969

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

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

Nauru, Apr 12, 2016

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

North Macedonia, Feb 25, 1993

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

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

Non-member of the World Bank

The Republic of Kosovo is not a member of the UN, but is a member of the International Monetary Fund
and the World Bank Group, both specialized agencies in the United Nations System. The five United
Nations member states that are not members of the World Bank are * Andorra, * Cuba, *
Liechtenstein, * Monaco, and * North Korea.
Taiwan is the largest economy outside the World Bank, followed by Hong Kong, Macau and Gagauzia.
The two observer states at the UN, the Vatican City and State of Palestine, are also not members of the
World Bank

Angeline:

The World Bank on Covid19

World Bank announces COVID-19 relief initiative worth $12 billion for low-income countries

The World Bank has announced plans for a $12 billion relief initiative to facilitate the distribution of
COVID-19 vaccines among poor countries.

This initiative could help treat up to 2 billion people across countries that need it the most, and as soon
as effective medication to fight the virus shows up.

To avoid an unequal distribution of vaccines and life saving drugs over the course of the next few
months, the World Bank will disburse cash in the upcoming 12-18 month window.

The President of the World Bank, David Malpass said that the initiative began in a big to ensure low-
income countries are not left our and cornered by wealthy nations when effective medical measures
against COVID-19 become apparatus. Malpass called the move a “game changer”, while adding that
once a safe vaccine becomes available, people will be able to lives with confidence again.

The driving rationale behind this decision was to not wait for a vaccine to come up before taking putting
in place a mechanism to help disadvantaged countries.

Countries like the US, UK, Russia, China are working on active treatments against COVID-19. Many
affluent countries have reserved vaccines, which could cause difficulties for poorer countries. Malpass
said that they want to make sure that “low and middle income countries have access as well”.

Additionally, according to World Bank predictions, the economy cannot recover and go back to its old
ways until people begin living as we used to - travelling without boundaries, and socialising.

The only way people can go back to their old lives is through the inoculation of people with a vaccine.
The plan will be tabled in front of the bank's board but is expected to go through.

Chariz:

History of world bank in the Philippines

The Philippines' history with the World Bank started in 1945 when they became one of the first
members of the International Bank for Reconstruction and Development (IBRD).[1] Their first project
with the Bank came in 1957 with the Binga Power Project.[2] Since then, the Philippines has received
$2.14 billion of disbursed loans from the IBRD.[3] The Philippines is in the constituency entitled EDS 15,
comprising Brazil, Colombia, Dominican Republic, Ecuador, Haiti, Panama, Suriname, and Trinidad and
Tobago, and headed by Executive Director Fabio Kanczuk