The World Bank Group’s website says that its mission is “... to reduce poverty and support development." It is governed at the highest level by a Boards of Governors that meets once a year. The day-to-day work of the Bank is managed by a President and 25 Executive Directors who are elected by the member countries and make up the Boards of Directors. The President chairs the semiweekly meetings of the Boards.
The Bank consists of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) The International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for Settlement of Investment Disputes (ICSID) are closely associated with it. All five of them together are called the World Bank Group and there is a board for each agency.
The Bank makes an enormous amount of information about its work through the following portals:
The Bank evaluates the results of its work and identifies and disseminates lessons learned through the Independent Evaluation Group (IEG). The IEG reports directly to the Board of the Executive Directors.
The World Bank Group combats corruption on the part of those using the Bank's services through its Sanctions System. "Since 2001, more than 700 firms and individuals have been publicly sanctioned by the World Bank Group."
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