WORLD BANK

In 1944, the World Bank was founded, together with the International Monetary Fund (IMF), in Bretton Woods, New Hampshire, USA. Today, both Bretton Woods institutions contribute to the achievement of international development goals, among other things by providing financial aid, advice as well as technical assistance. While the World Bank supports long-term development and reconstruction projects through favorable loans, the IMF's tasks are more fiscal in nature, e.g., international cooperation on and monitoring of monetary policy... The World Bank is a specialized agency of the United Nations. It is led by the governments of member countries. However, contrary to the UN principle of "One Flag, One Vote", the respective voting power within the World Bank corresponds to each shareholder's financial commitment... The World Bank provides on average $10 billion a year in budget finance to governments with no restrictions on coal, oil, or gas funding. Governments are allowed to use this..

Also known as: World Bank Action Day