World Bank

The World Bank was established in 1944 to provide financial and technical assistance to developing countries for development projects.

The Bretton Woods Conference took place in July 1944, leading to the establishment of the International Monetary Fund (IMF) and the World Bank.

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. The opening took place a year after the end of the Second World War, amidst widespread devastation and financial struggles in many countries.

On June 30, 1965, the commitments of the World Bank Group exceeded $1 billion. This marked a significant milestone in the financial activities of the World Bank Group.

In 1988, the World Bank added the Multilateral Investment Guarantee Agency (MIGA) to its group of institutions. MIGA was established to provide political risk insurance and credit enhancement to investors and lenders, contributing to the facilitation of investments.

During the 1990s, the World Bank provided assistance to former Soviet nations to redirect their economies after the dissolution of the Union of Soviet Socialist Republics. This support helped many newly sovereign nations to become members of the World Bank.

In 1991, the Global Environment Facility (GEF) was established by the World Bank to further focus on safeguarding the environment. This initiative reflected the growing importance of environmental protection in global development efforts.

The Heavily Indebted Poor Countries (HIPC) debt initiative was approved by the World Bank in 1996. This initiative aimed to enable poor countries to focus on sustainable development and reducing poverty by providing debt relief.

On November 13, 2014, a video titled 'World Bank Group History: Exploring the Archives' was shared. The video likely delves into the historical background and archives of the World Bank Group.

World Bank shareholders endorsed an ambitious package of measures that include a $13 billion paid-in capital increase and a series of internal reforms. Kristalina Georgieva played a key role in securing this increase, the largest funding increase in the bank's history.

World Bank Group President Kim stepped down and Kristalina Georgieva assumed the role of interim president of the World Bank Group on 1 February 2019.

The World Bank Group Archives and DECVP collaborated to create a video highlighting the history of the World Bank and showcasing the different types of records available in the Archives.

The user is suggesting that it is time for the World Bank to break with tradition on April 15, 2024.