Editing World Bank Group (section)

==Organizational structure==
[[File:The World Bank Group Building.jpg|thumb|The World Bank Group Building in [[Washington, D.C.]]]]
[[File:The World Bank Group.jpg|thumb|The World Bank Sign on the building]]
Together with four affiliated agencies created between 1957 and 1988, the IBRD is part of the World Bank Group. The group's headquarters are in [[Washington, D.C.]] It is an international organization owned by member governments; although it makes profits, they are used to support continued efforts in poverty reduction.<ref>[http://web.worldbank.org/WBSITE/EXTERNAL/EXTSITETOOLS/0,,contentMDK:20147466~menuPK:344189~pagePK:98400~piPK:98424~theSitePK:95474,00.html#13 FAQ-About The World Bank] {{Webarchive|url=https://web.archive.org/web/20130312012211/http://web.worldbank.org/WBSITE/EXTERNAL/EXTSITETOOLS/0,,contentMDK:20147466~menuPK:344189~pagePK:98400~piPK:98424~theSitePK:95474,00.html#13 |date=12 March 2013 }}, Worldbank.org.</ref>

Technically the World Bank is part of the United Nations system,<ref>[http://www.colorado.edu/StudentGroups/mun/docs/unsystem.jpg The United Nations system: Principal Organs] {{Webarchive|url=https://web.archive.org/web/20160303231222/http://www.colorado.edu/StudentGroups/mun/docs/unsystem.jpg |date=3 March 2016 }}, Colorado.edu.</ref> but its governance structure is different: each institution in the World Bank Group is owned by its member governments, which subscribe to its basic share capital, with votes proportional to shareholding. Membership gives certain voting rights that are the same for all countries but there are also additional votes that depend on financial contributions to the organization. The president of the World Bank is nominated by the president of the United States and elected by the bank's Board of Governors.<ref name=WBA/> As of 15 November 2009, the United States held 16.4% of total votes, Japan 7.9%, Germany 4.5%, the United Kingdom 4.3%, and France 4.3%. As changes to the bank's Charter require an 85% supermajority, the U.S. can block any major change in the bank's governing structure.<ref>[http://www.globalpolicy.org/socecon/bwi-wto/wbank/2003/0626blocks.htm US Blocks Stronger African Voice At World Bank]  Retrieved 7 August 2007.</ref> Because the U.S. exerts formal and informal influence over the bank as a result of its vote share, control over the presidency, and the bank's headquarters location in Washington, D.C., friends and allies of the U.S. receive more projects with more lenient terms.<ref>Clark Richard and Lindsay Dolan. "Pleasing the Principal: U.S. Influence in World Bank Policymaking." 2021. ''American Journal of Political Science'' 65(1): 36-51. https://doi.org/10.1111/ajps.12531</ref>

===World Bank Group agencies===
The World Bank Group consists of
* the [[International Bank for Reconstruction and Development]] (IBRD), established in 1944, which provides debt financing based on sovereign guarantees;
* the [[International Finance Corporation]] (IFC), established in 1956, which provides various forms of financing without sovereign guarantees, primarily to the private sector;
* the [[International Development Association]] (IDA), established in 1960, which provides concessional financing (interest-free loans or grants), usually with sovereign guarantees;
* the [[International Centre for Settlement of Investment Disputes]] (ICSID), established in 1965, which works with governments to reduce investment risk;
* the [[Multilateral Investment Guarantee Agency]] (MIGA), established in 1988, which provides insurance against certain types of risk, including political risk, primarily to the private sector.

The term "[[World Bank]]" generally refers to just the IBRD and IDA, whereas the term "World Bank Group" or "WBG" is used to refer to all five institutions collectively.<ref name="WBA">[http://web.worldbank.org/WBSITE/EXTERNAL/EXTABOUTUS/0,,contentMDK:20040580~menuPK:1696997~pagePK:51123644~piPK:329829~theSitePK:29708,00.html "About Us"] {{Webarchive|url=https://web.archive.org/web/20120611073612/http://web.worldbank.org/WBSITE/EXTERNAL/EXTABOUTUS/0,,contentMDK:20040580~menuPK:1696997~pagePK:51123644~piPK:329829~theSitePK:29708,00.html |date=11 June 2012 }}, ''wordbank.org'', accessed 30 May 2007.</ref>

The [[World Bank Institute]] is the capacity development branch of the World Bank, providing learning and other capacity-building programs to member countries.

The IBRD has 189 member governments, and the other institutions have between 153 and 184.<ref name="WBG Member Countries" /> The institutions of the World Bank Group are all run by a board of governors meeting once a year.<ref name=WBA/> Each member country appoints a governor, generally its minister of finance. Daily, the World Bank Group is run by a board of 25 executive directors to whom the governors have delegated certain powers. Each director represents either one country (for the largest countries), or a group of countries. Executive directors are appointed by their respective governments or the constituencies.<ref name=WBA/>

The agencies of the World Bank are each governed by their Articles of Agreement that serves as the legal and institutional foundation for all their work.<ref name=WBA/>

The activities of the [[International Finance Corporation|IFC]] and [[Multilateral Investment Guarantee Agency|MIGA]] include investment in the private sector and providing insurance, respectively.

===Presidency===
Traditionally, the bank president has been a U.S. citizen nominated by the president of the United States, the bank's largest shareholder. The nominee is subject to confirmation by the executive directors, to serve a five-year, renewable term.<ref name=WBA/>

====Current president====
[[Ajay Banga]] is the current and 14th [[President of the World Bank Group]].

===Managing director===
The managing director of the World Bank is responsible for organizational strategy; budget and strategic planning; information technology; shared services; Corporate Procurement; General Services and Corporate Security; the Sanctions System; and the Conflict Resolution and Internal Justice System. The present managing director, Shaolin Yang, assumed the office after [[Sri Mulyani]] resigned to become finance minister of [[Indonesia]].<ref>{{Cite news |title=More Chinese at helm of international organisations |work=The Straits Times |url=https://www.straitstimes.com/asia/east-asia/more-chinese-at-helm-of-international-organisations |archive-url=https://web.archive.org/web/20181003181820/https://www.straitstimes.com/asia/east-asia/more-chinese-at-helm-of-international-organisations |url-status=live |archive-date=3 October 2018 |access-date=3 October 2018 }}</ref><ref>{{Cite news |title=Indonesia's president appoints World Bank's Sri Mulyani as finance minister |work=The Star |url=https://www.thestar.com.my/business/business-news/2016/07/27/indonesia-president-appoints-world-bank-sri-mulyani-as-finance-minister/ |access-date=3 October 2018}}</ref> The managing director and World Bank Group chief financial officer is Anshula Kant since 7 October 2019.<ref>{{cite web | url=https://www.worldbank.org/en/about/people/a/anshula-kant | title=Anshula Kant }}</ref>

===Extractive Industries Review===
After longstanding criticisms from [[civil society]] of the bank's involvement in the oil, gas, and [[mining industry|mining]] sectors, the World Bank in July 2001 launched an independent review called the ''Extractive Industries Review'' (EIR—not to be confused with [[Environmental impact assessment|Environmental Impact Report]]). The review was headed by an "Eminent Person", [[Emil Salim]] (former Environment Minister of Indonesia). Salim held consultations with a wide range of stakeholders in 2002 and 2003. The EIR recommendations were published in January 2004 in a final report, "Striking a Better Balance".<ref name="SBB">[http://go.worldbank.org/PIW55278X0 "Striking a Better Balance"], ''worldbank.org'', January 2004, accessed 30 May 2007.</ref> The report concluded that fossil fuel and mining projects do not alleviate poverty, and recommended that World Bank involvement with these sectors be phased out by 2008 to be replaced by investment in [[renewable energy]] and [[Sustainable energy|clean energy]]. The World Bank published its Management Response to the EIR in September 2004<ref>[http://siteresources.worldbank.org/INTOGMC/Resources/finaleirmanagementresponse.pdf "Striking a Better Balance"], {{webarchive |url=https://web.archive.org/web/20051113021620/http://siteresources.worldbank.org/INTOGMC/Resources/finaleirmanagementresponse.pdf |date=13 November 2005 }}, "World Bank Group Management Response" to "The World Bank Group and Extractive Industries: The Final Report of the Extractive Industries Review: World Bank Group Management Response",17 September 2004, accessed 30 May 2007.</ref> after extensive discussions with the board of directors. The Management Response did not accept many of the EIR report's conclusions, but the EIR served to alter the World Bank's policies on oil, gas, and mining in important ways, as the World Bank documented in a recent follow-up report.<ref name="OGMC">[http://go.worldbank.org/BE8FH2VK40 "Oil, Gas, Mining, and Chemicals" (follow up report)]{{Dead link|date=January 2022 |bot=InternetArchiveBot |fix-attempted=yes }}, accessed 30 May 2007.</ref> One area of particular controversy concerned the rights of indigenous peoples. Critics point out that the Management Response weakened a key recommendation that indigenous peoples and affected communities should have to provide 'consent for projects to proceed; instead, there would be 'consultation'.<ref>[http://www.newint.org/columns/currents/2004/11/01/sustainability/index.php "The Energy Tug of War"] {{Webarchive|url=https://web.archive.org/web/20070930183611/http://www.newint.org/columns/currents/2004/11/01/sustainability/index.php |date=30 September 2007 }}, ''[[The New Internationalist]]'', No. 373 (November 2004), accessed 30 May 2007.<!--This citation was to a vague index and not to a specific article; what source at this site? The URL given pointed to a webpage headed "Hannah Arendt" with an index of items none of which seemed to pertain.???--></ref> Following the EIR process, the World Bank issued a revised Policy on Indigenous Peoples.<ref>[https://web.archive.org/web/20080507073514/http://wbln0018.worldbank.org/Institutional/Manuals/OpManual.nsf/B52929624EB2A3538525672E00775F66/0F7D6F3F04DD70398525672C007D08ED?OpenDocument "World Bank Operational Manual: Operational Policies: Indigenous Peoples" (Op 4.10)], ''worldbank.org'', July 2005, accessed 30 May 2007. Archived version from 7 May 2008</ref>