World Bank Definition, History, Roles and Responsibilities.
                     WORLD BANK: 
DEFINITION, HISTORY, 
ROLES AND 
RESPONSIBILITIES
Introduction
• The World Bank (WB) was originally created as the International Bank for 
Reconstruction and Development (IBRD) in 1944 along with its twin, the IMF. 
Together they came to be known as the ‘Bretton Woods’ twin sisters’.
Source: www.economicsdiscussion.net
Origin
• When it was set up it was decided that this international bank would assist in the 
economic reconstruction of the World War II-damaged European economies. 
• In early 1946 this international bank launched its carrier as the multilateral 
development bank and since then the IBRD came to be known as the World Bank.
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Headquarter
• Its headquarters is located in Washington, opposite the IMF building, and it lies as the 
next door neighbour of the White House.
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Functions
Assistance
• To assist in the construction and develop ment of the territories of its members by 
facilitating investment of capital for productive purposes, including the ‘restoration of 
economies destroyed or disrupted by war’, and the encouragement of the 
“development” of productive facilities and resources in less developed countries.
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Promote private investment 
• To promote private investment and long run balanced growth of international trade 
and BOP equilibrium by means of guarantees or partici pation in international loans 
and investments.
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Provide finance
• To provide finance to projects from its own capital, funds raised by it and by 
participating with other members.
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Objectives
• The purposes and objectives are constantly changing. For instance, in the early 
years, the Bank’s investment concentrated on infrastructural build-up like power, 
transport, communications and irrigation. 
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The World Bank Fights Climate 
Change
• The World Bank has joined the fight against climate change because it could push 
much more of the world's population into poverty by 2030. 
Source: www.thebalance.net
Goal of World Bank
• Overcome poverty by spurring growth, especially in Africa.
• Help reconstruct countries emerging from war, the biggest cause of extreme poverty.
• Provide a customized solution to help middle-income countries remain out of poverty.
• Spur governments to prevent climate change.
• Work with partners to bring an end to AIDS.
Source: www.thebalance.net