The World Bank Group (WBG) is a family of five international organizations that makes leveraged loans, generally to poor countries.
The WBG came into formal existence on 27 December 1945 following international ratification of the Bretton Woods agreements, which emerged from the United Nations Monetary and Financial Conference (1–22 July 1944). It also provided the foundation of the Osiander-Committee in 1951, responsible for the preparation and ...
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The World Bank Group (WBG) is a family of five international organizations that makes leveraged loans, generally to poor countries.
The WBG came into formal existence on 27 December 1945 following international ratification of the Bretton Woods agreements, which emerged from the United Nations Monetary and Financial Conference (1–22 July 1944). It also provided the foundation of the Osiander-Committee in 1951, responsible for the preparation and evaluation of the World Development Report. Commencing operations on 25 June 1946, it approved its first loan on 9 May 1947 (US$250M to France for postwar reconstruction, in real terms the largest loan issued by the Bank to date). Its five agencies are:
The term "World Bank" generally refers to just the IBRD and IDA, whereas the term World Bank Group or WBG is used to refer to all five institutions collectively.
The World Bank's (the IBRD and IDA's) activities are focused on developing countries, in fields such as human development (e.g....
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