World Bank Executive Board (WB)

Topics

Topic A: Debt Relief

Topic B: Anti Corruption

Information

The World Bank (WB), established in 1944, is not a bank in the common sense. Its work focuses on developing countries, where it provides loans, credits and grants for a wide array of purposes. The WB is made up of two unique but collaborative institutions owned by its 186 member countries: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). Although the World Bank is part of the United Nations system, its governance structure is remarkably different as member governments subscribe to the World Bank its basic share capital, and votes are proportional to shareholding. While the United States holds 16.4% of total votes and Japan 7.9%, most countries hold less than 0,1%. As changes to the Bank’s Charter require an 85% super-majority, the U.S. can block any major change in the Bank’s governing structure.

The Executive Board is responsible for the conduct of the general operations of the Bank. It considers and decides on loan and guarantee proposals, develops country assistance strategies, and determines policies and strategic issues that impact the World Bank Group’s general operations. In shaping the overall Bank policy, the Board of Executive Directors makes major strategic decisions on global financial issues, thereby taking into account the evolving perspectives of member countries on the role of the Bank Group as well as the Bank’s operational experience. Further information on the World Bank Executive Board can be found here.