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The World Bank

The organizations that make up the World Bank Group are owned by the governments of member nations, which have the ultimate decision-making power within the organizations on all matters, including policy, financial or membership issues.

The organizations that make up the World Bank Group are owned by the governments of member nations, which have the ultimate decision-making power within the organizations on all matters, including policy, financial or membership issues.

Member countries govern the World Bank Group through the Boards of Governors and the Boards of Executive Directors. These bodies make all major decisions for the organizations.

To become a member of the Bank, under the IBRD Articles of Agreement, a country must first join the International Monetary Fund (IMF). Membership in IDA, IFC and MIGA are conditional on membership in IBRD.

In tandem with the IMF, and in consultation with other World Bank Group staff, the Corporate Secretariat Vice Presidency coordinates the process for new membership and maintains the information relating to the status of membership which includes the membership lists.

Each autumn, the Boards of Governors of the World Bank Group and International Monetary Fund (IMF) hold Annual Meetings to discuss a range of issues related to poverty reduction, international economic development and finance. The Annual Meetings provide a forum for international cooperation and enable the Bank and Fund to better serve their member countries.

The Annual Meetings traditionally are held in Washington two years out of three and, in order to reflect the international character of the two institutions, every third year in a different member country. In addition to the meetings of the Boards of Governors, the Development Committee and the International Monetary and Financial Committee (IMFC) are officially convened. The Development Committee and the IMFC advise the Boards of Governors on issues of global concern, including the world economic outlook, poverty eradication, economic development, and aid effectiveness.

Published: Thu, 04/07/2013 - 14:00


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