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Country borders or names do not necessarily reflect the World Bank Group's official position. This map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries.
The International Monetary Fund (IMF) and the World Bank share a common goal of raising living standards in their member countries. Their approaches to achieving this shared goal are complementary: the IMF focuses on macroeconomic and financial stability while the World Bank concentrates on long-term economic development and poverty reduction. Want to know more, watch this CNBC explains video ...
The International Monetary Fund ( IMF) is a major financial agency of the United Nations, and an international financial institution funded by 190 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of last resort to national governments, and a leading supporter of exchange-rate stability.
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What is the difference between the World Bank and the IMF?
Jan 18, 2019 · The World Bank Group provides financing, policy advice, and technical assistance to governments, and also focuses on strengthening the private sector in developing countries. The IMF keeps track of the economy globally and in member countries, lends to countries with balance of payments difficulties, and gives practical help to members.
- Inception
- Organizational Structure
- Developing Countries
- Working Formula
The institution was established in 1944 together with the International Monetary Fund which is also based in Washington, D.C.; their founding fathers were John Keynes and Harry Dexter. Up until 1974, the World Bank issued small loans which were accompanied with strict conditions that applicant countries had to meet. One such example was France, whi...
The head of the World Bank is the president who has traditionally been a US citizen up until the latest appointment of Jim Yong Kim in 2012. The United States nominates the candidate, and approval is by the Board of Executives for a five-year term in office subject to renewal. The bank works like a cooperative with 189 countries who are members or ...
Post-1974, the World Bank changed its approach to developing countries; those that had not yet achieved considerable economic development where poverty was more pronounced. The World Bank sought to concentrate on the basic needs of people in these countries this led to larger loans being made available to these countries as the priority was now on ...
The World Bank came up with Millennium Development Goals which rely on six principles; stronger growth in Africanstates, increased effort in healthcare and education, incorporation of growth and environmental topics, more aid allocation, progress in trade agreements, and more support from the World Bank and its affiliate institutions. The developme...
- Joseph Kiprop
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] The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA ...
The World Bank. 1818 H Street, NW Washington, DC 20433 USA. Tel : (202) 473-1000.
