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World Bank Group
International Bank for Reconstruction and Development
The International Bank for Reconstruction and Development (IBRD) was founded in 1944 at the Bretton Woods Conference as part of the World Bank Group. In 1946 it began its work. Germany has been a member since 1952. As at 30 June 2009, 186 member states held shares in the total capital of 157.4 billion US dollars. Germany holds 4.6 per cent of this sum.
Responsibilities of the IBRD
After the Second World War, the IBRD was responsible for procuring capital for countries with very little foreign exchange, which were not considered credit-worthy, to help them rebuild and develop. It issues bonds on the financial markets and passes on this capital in the form of loans. Now, its main task is to promote economic development in middle-income countries and in credit-worthy poor countries. To this end, it awards loans on terms similar to those available on the market. In the fiscal year 2009 the IBRD authorised loans totalling 32.9 billion US dollars to finance 126 projects and programmes. The major basis for the scope and direction of loans is a country strategy elaborated by the World Bank in conjunction with the recipient country. Germany holds 4.49 per cent of the voting rights within the IBRD.
Contact
International Bank for Reconstruction and Development (IBRD)
1818 H Street, NW
Washington, DC 20433
USA
Phone: +1 / 202 / 4 77 12 34
Fax: +1 / 202 / 4 77 63 91
