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History Of The World Bank
The WB was created by the Bretton Woods Conference and evolved by adding
additional institutions as additional tasks were identified. The initial
objective of the WB was to provide loans for the rebuilding of Europe after
WWII, later lending is provided to developing countries to foster
development. Membership in the IMF is a prerequisite to be member of the WB
and the source of the funds it provides are membership subscription quotas,
international capital market borrowing (bonds), repayment of loans and
retained earnings.
The institutions that form the WB group today are: 1. IBRD (International
Bank for Reconstruction and D ....
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