A Guide to the World Bank

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Member Countries The five institutions of the Bank Group are owned by their member countries (see box 3.1 for Web links).

Membership To become a member of the International Bank for Reconstruction and Development (IBRD), a country must first join the International Monetary Fund (IMF). Similarly, membership in the International Development Association (IDA), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA) is contingent on membership in IBRD. In each of these cases, member countries buy shares in the institution, thereby helping to build the institution’s capital and borrowing power. This arrangement is known as capital subscriptions. Member countries also sign the founding document of each institution: the Articles of Agreement for IBRD, IDA, and IFC and the MIGA Convention. Membership in the International Centre for Settlement of Investment Disputes (ICSID) entails signing and ratifying the ICSID Convention but does not involve capital subscriptions. Links to the founding documents for each institution can be found at http://www.worldbank.org/articles/. As of April 2011, IBRD had 187 members, IDA had 170, IFC had 182, MIGA had 175, and ICSID had 146. The Bank Group’s Corporate Secretariat keeps up-to-date lists of membership, handles official country names used by the Bank Group, and deals with communications regarding membership status and capital subscriptions. In its maps and publications, the Bank Group sometimes indicates contested boundaries or territorial claims between member countries, but Box 3.1 Web Links for Country Membership Information n IBRD and IDA member countries: see “Members” at http://www.worldbank.org/about/ n IFC member countries: see “Member Countries” at http://www.ifc.org/about n MIGA member countries: see “About” and click on “MIGA Member Countries” at http://www.miga.org/ n ICSID contracting states: see “Member States” at http://www.worldbank.org/icsid/

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A Guide to the World Bank

Published on Jun 29, 2011

World Bank Publications

The World Bank Group is one of the world's largest sources of funding and knowledge for developing countries. Its mission is to overcome poverty by supporting an inclusive and sustainable development, enhancing growth with care for the environment, and creating individual opportunity and hope. Through its five institutions and in partnership with more than 100 developing countries, the Bank Group strives to improve health and education, fight corruption, boost agricultural support, build roads and ports, and protect the environment. Other projects are aimed at rebuilding war-torn countries or regions, providing basic services such as access to clean water, and encouraging investments that create jobs. In addition to this critical groundwork around the world, various parts of the World Bank Group are involved in activities ranging from conducting economic research and analysis to providing financial and advisory services to governments and private enterprises.