How the World Bank Group Is Organized
progress on the work of the Bank Group and the IMF. As with the Annual Meetings, a number of activities are organized at these Spring Meetings to involve the press, CSOs, and the private sector. Plenary sessions of the two institutions’ Boards of Governors, however, are scheduled only during the Annual Meetings in September or October.
Specialized Agency of the United Nations Cooperation between the Bank Group and the United Nations has been in place since the founding of the two organizations (in 1944 and 1945, respec tively) and focuses on economic and social areas of mutual concern, such as reducing poverty, promoting sustainable development, and investing in peo ple. In addition to a shared agenda, the Bank Group and the United Nations have almost the same membership: only a handful of UN member countries are not members of IBRD. The World Bank’s formal relationship with the United Nations is defined by a 1947 agreement that recognizes the Bank (now the Bank Group) as an independent specialized agency of the United Nations and as an observer in many UN bodies, including the General Assembly. As an independent specialized agency, the Bank Group officially falls under the purview of the United Nations Economic and Social Council. In recent years, the Economic and Social Council has conducted a special highlevel meeting with the Bretton Woods institutions immediately after the Spring Meetings of the Bank Group and the IMF. The Bank Group president is also a member of the UN System Chief Executives Board for Coordination, which meets twice annually. In addition, the Bank Group plays a key role in supporting United Nations–led processes, such as the International Conference on Financing for Development and the World Summit on Sustainable Development. It also provides knowledge about countrylevel challenges and helps formulate international policy recommendations. In terms of operations, the Bank Group works with other UN funds and programs to coordinate policies, aid, and project implementation. It also helps prepare for and participates in most of the United Nations global con ferences and plays an important role in followup, especially in relation to the implementation of goals at the country level. Further information on the Bank Group’s collaboration with UN agen cies can be found under “Partnerships” in chapter 2.
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