The World Bank
THE WORLD BANK
In 1944, Western powers were determined to prevent any re-emergence of the economic depression which had dominated the 1930s, and which played a big part in bringing about the second World War. In the last year of the devastation of that war, priority had to be given to re-establishing the European countries economically.
The World Bank (WB) was conceived in 1946 during the World War II at Bretton Woods, New Hampshire. The Bank was initially founded to help rebuild Europe after the war. The first loan of $250 million was granted to France in 1947 for post-war reconstruction. The Bank was mainly designed by the U.S. government officials and is physically based in Washington. The Bank's President has always been an American. From the beginning the Bank was intended to counter protectionism and economic depression.
Today, the World Bank itself is bigger and broader and far more complex. Some 6800 staff are currently based in Washington. It has become a......
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Approximate Word Count: 742
Approximate Pages: 3 (250 words per double-spaced page)
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