World Bank

Some of the key events about World Bank

• 1944

  Established at the Bretton Woods Conference to aid post-World War II reconstruction
• 1960

  Created the International Development Association to provide loans to the poorest countries
• 1960

  Criticized for focusing primarily on large infrastructure projects while neglecting social development
• 1965

  Launched the International Centre for Settlement of Investment Disputes to resolve disputes between foreign investors and states
• 1976

  Accused of supporting oppressive regimes through structural adjustment programs
• 1981

  Faced backlash for promoting privatization policies that led to increased inequality in developing countries
• 1985

  Criticized for environmental damage caused by large-scale dam projects it funded
• 1988

  Initiated the Multilateral Investment Guarantee Agency to promote foreign direct investment in developing countries
• 1990

  Structural adjustment policies linked to increased poverty and reduced access to healthcare in Africa
• 1994

  Narmada Dam project in India displaced thousands without adequate compensation
• 1996

  Partnered with the IMF to launch the Heavily Indebted Poor Countries Initiative to reduce debt burdens
• 2000

  Adopted the Millennium Development Goals to combat poverty, hunger, disease, and illiteracy
• 2000

  Accused of pushing for water privatization in Bolivia, leading to social unrest
• 2007

  Internal report revealed significant failures in anti-corruption efforts
• 2008

  Established the Climate Investment Funds to support developing countries in mitigating climate change
• 2010

  Increased its capital by $86 billion to respond to the global financial crisis
• 2011

  Criticized for land grabbing practices in developing countries
• 2015

  Committed to ending extreme poverty by 2030 and promoting shared prosperity
• 2015

  Faced allegations of violating its own safeguard policies in infrastructure projects
• 2020

  Pledged $160 billion over 15 months to help countries address health, economic, and social impacts of the COVID-19 pandemic

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