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The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and best-known development bank in the world and an observer at the United Nations Development Group. The bank is headquartered in Washington, D.C., in the United States.
World Bank Group. Website. worldbank.org. The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. [5]
State Street Corporation (stylized in all caps ), is a global [2] financial services and bank holding company headquartered at One Congress Street in Boston with operations worldwide. It is the second-oldest continually operating United States bank; its predecessor, Union Bank, was founded in 1792.
United States Executive Director for the World Bank. On March 8, 2019, President Donald Trump nominated her to position of the United States Executive Director of the World Bank. The Senate confirmed her to the position on September 12, 2019. [5]
Purpose. Promote international monetary co-operation, facilitate international trade, foster sustainable economic growth, make resources available to members experiencing balance of payments difficulties, prevent and assist with recovery from international financial crises [1] Headquarters.
Ajay Banga, the President of the World Bank, participated in the 2023 G20 New Delhi summit. During the summit, he emphasized the need for a broader focus on issues such as food insecurity and Gender equality, alongside the World Bank's traditional focus on poverty eradication.
In June 1996, he wrote a memo that spot audits would occur after he established an in-house auditing staff at the World Bank. His time at the Bank was also a period of shift from complex infrastructure projects in developing economies to social-sector led programs.
The International Finance Corporation ( IFC) is an international financial institution that offers investment, advisory, and asset-management services to encourage private-sector development in less developed countries. The IFC is a member of the World Bank Group and is headquartered in Washington, D.C. in the United States.
World Bank President. In February 2019, Trump announced Malpass as the nominee for President of the World Bank, succeeding Jim Yong Kim, who had announced in January 2019 that he would be stepping down three years prior to the end of his five-year term in 2022.
The president of the World Bank Group is the head of World Bank Group. The president is responsible for chairing the meetings of the boards of directors and for overall management of the World Bank Group.