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Jul 5, 2024 · World Bank, international organization affiliated with the United Nations and designed to finance projects that enhance the economic development of member states. Headquartered in Washington, D.C., the bank is the largest source of financial assistance to developing countries.
The Explore History describes the history of World Bank Group and provides access to a number of informative sites and resources, such as the Past Presidents Profiles, World Bank Group Historical Timeline, and a collection of online exhibits.
It was established along with the International Monetary Fund at the 1944 Bretton Woods Conference. After a slow start, its first loan was to France in 1947. In the 1970s, it focused on loans to developing world countries, shifting away from that mission in the 1980s.
History. Founding. The WBG came into formal existence on 27 December 1946 following international ratification of the Bretton Woods agreements, which emerged from the United Nations Monetary and Financial Conference (1–22 July 1944).
The World Bank Group Historical Timeline offers an engaging way to learn about the important moments in the history of the World Bank while discovering the gems of the World Bank Group Archives.
The World Bank opened its doors on June 25, 1946, nearly 2 years after its Articles of Agreement had been drafted at the Bretton Woods conference in New Hampshire.
With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries.
