World Bank

The World Bank, organised along more traditional commercial banking lines was formed to be “lender to the world”, initially to rebuild the infrastructure, manufacturing and service sectors of the European and Asian Economies, and ultimately to support the development of Third World nations and their economies.

The depositors to the World Bank are nations rather than people, and the borrowers are governments rather than individuals. However, the Bank’s economic “ripple system” uses the same general banking principles that have proven effective over centuries.

The Tie That Binds: The Bank of International Settlements and The World Bank

The directors of both banks are controlled by the ministers from each of the G-10 countries: Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Canada, Sweden, Switzerland, the United Kingdom and Luxembourg.