Topic - World Bank Group
Subscribe to this topic via RSS or ATOMThe World Bank Group (WBG) is a family of five international organizations that makes leveraged loans, generally to poor countries. The Bank came into formal existence on 27 December 1945 following international ratification of the Bretton Woods agreements, which emerged from the United Nations Monetary and Financial Conference (1–22 July 1944). It also provided the foundation of the Osiander-Committee in 1951, responsible for the preparation and evaluation of the World Development Report. Commencing operations on 25 June 1946, it approved its first loan on 9 May 1947 ($250M to France for postwar reconstruction, in real terms the largest loan issued by the Bank to date). Its five agencies are:* International Bank for Reconstruction and Development (IBRD)* International Development Association (IDA)* International Finance Corporation (IFC)* Multilateral Investment Guarantee Agency (MIGA)* International Centre for Settlement of Investment Disputes (ICSID) - Source: Wikipedia
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KAMPALA, Uganda (AP) — The World Bank said it will not consider new loans to Uganda after the East African country earlier this year enacted an anti-gay bill that rights groups and others have condemned.
World Bank says no new funding to Uganda over anti-gay law →
As it is, the World Bank said, Russia's invasion has undone 15 years of economic progress in Ukraine, cutting Ukraine's gross domestic product by 29% and pushing 1.7 million Ukrainians into poverty.
World Bank puts cost of rebuilding Ukraine at $411 billion →
