OVERVIEW OF THE WORLD BANK SYSTEM
OVERVIEW OF THE WORLD BANK SYSTEM

Summary/Abstract: The World Bank system is made up of the International Bank for Reconstruction and Development (IBRD), to which they have joined: the International Development Association (AID), the International Financial Corporation (CFI), the Multilateral Investment Guarantee Agency (AMGI) and the International Settlement Agency (AMGI) of Investment Disputes (CIRDDI). The International Bank for Reconstruction and Development was established on December 27, 1945, in accordance with the provisions of the Bretton-Woods Agreements (July 1944) establishing the basis of the new international monetary system, and began operations on June 25, 1946. B.I.R.D. grants long-term loans (10-20 years), for the realization of concrete projects in the member countries and gives technical and economic guarantees. The International Financial Corporation (C.F.I.) was established in 1956, as a specialized institution of the UN, affiliated with the B.I.R.D., in order to support the development of private enterprises with productive character in the developed countries, to stimulate economic development.

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