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World Bank - Brief Portrait

Established
1944

Headquarters
Washington

Members
186 states

Organization
Board of Governors is the highest decision-making body; 24-member Board of Directors is the standing decision-making body on the operational level

Swiss Executive Director
Joerg Frieden

President
Robert B. Zoellick  (USA)

Staff
around 10,000 worldwide

Financing
international capital markets (IBRD), member contributions (IDA), earnings of the IBRD and credit repayments

Swiss contribution in 2008
IDA: CHF 204,2 million

Link
www.worldbank.org

World Bank

The World Bank (WB) was founded in July 1944 in Bretton Woods at the same time as the International Monetary Fund, IMF. Over the years, its original mandate to support the reconstruction of Europe has expanded greatly. It is one of the most important institutions in the fight against poverty.

The main tasks of the World Bank

The key task of the World Bank Group is combating poverty by promoting the economic and social progress of less developed member states. At present the Group consists of five closely associated institutions:

Annually, the World Bank funnels between USD 20 and 30 billion to developing countries, making the Group the most important source of finance for developing and transition countries and often the only possibility for these countries to gain access to international capital markets.

The World Bank and Switzerland

Switzerland has been a member of the World Bank since 1992. Thanks to the Bank’s financial strength and its know-how, it is one of the world’s most important institutions in the fight against poverty.

Switzerland is represented on the Board of Governors, the highest decision-making body, by the head of the Federal Department of Economic Affairs, DEA, who is a governor, and the head of the Federal Department of Foreign Affairs, DFA, who is deputy governor. However, the Board of Directors, made up of executive directors from 24 voting groups deals with matters on the operational level. A Swiss Executive Director heads a constituency, or voting group made up of Poland, Serbia and Montenegro, Azerbaijan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan, the so-called Helvetistan Group. The Swiss voting share, which is based on its capital share, is 1.69% in the IBRD and 1.08% in the IDA.

In the various bodies, Switzerland works to ensure that the World Bank consistently focuses its activity in the fight against poverty and also promotes the private sector as a central pillar. Further information on cooperation with the World Bank is contained in "Switzerland and the World Bank".

In 2002, 10 years after Switzerland joined the Bretton Woods Institutions, BWI, the Control Committee of the Council of States came to the following conclusion: Switzerland plays an active role in the BWI with its presence on the Board of Directors of the IMF and the World Bank being the most important channel of influence. Because of its clear positions, its long experience in development-related subjects, the formation of alliances and a close cooperation with the management of both organizations, Switzerland is able to have it concerns discussed.

Additional Information and Documents