The World Banking Group (WBG) belongs to the United Nations (UN). It was set up in 1944 with the main aims to decrease worldwide poverty rate and speed up the domestic income growth for each member country. So far, the organization has over 10 thousand employees and more than 100 global local offices. Feel free to check out more details based on the below World Banking Group org chart.
World Banking Group Organizational Structure
Besides the Boards of Governors and the Boards of Directors, the WBG also has in total five institutions controlled by member countries:
The International Bank for Reconstruction and Development (IBRD)
IBRD now has nearly 190 member countries. The department helps the World Banking Group to undertake some important financing programs. For example, offering loans, providing risk management products or services, doing analysis on income reports, and building good relationships between member countries to face global challenges.
The International Development Association (IDA)
This part is mainly about assisting interest-free financing products to poorest nations and locations in order to reduce domestic income inequalities. Moreover, IDA has very close relations with IBRD in terms of daily cooperations and management.
The International Finance Corporation (IFC)
This section of the World Banking Group has several decades of professional experiences in managing and monitoring private investment. For the past fifty years, IFC has offered billions of U.S. dollars to developing countries to remain sustainable growth.
The Multilateral Investment Guarantee Agency (MIGA)
The Agency was established in 1988 to improve foreign direct investment (FDI) activities, especially in developing countries. In some cases, the MIGA may offer political risk insurance services to lenders.
The International Centre for Settlement of Investment Disputes (ICSID)
As a sub-institution of the World Banking Group, ICSID focuses on providing best solutions on international investment dispute issues. So far, the Centre has managed a large number of worldwide investment programs. Usually, member countries carry out certain actions according to specific international investment policies and regulations.