Managing Directors

(See also Organizational Structure.) The President of the World Bank Group delegates some of his or her oversight responsibility to the Managing Directors, each of whom oversees several organizational units. The President relies on them to oversee the strategic direction and day-today operations of the organization. Currently there are two Managing Directors for the Bank Group: one who also serves as Chief Operating Officer and the other who serves as Chief Financial Officer.

McCloy, John J.

(See Presidents of the World Bank Group.)

McNamara, Robert

(See Presidents of the World Bank Group.)


The organizations that make up the World Bank Group are owned by the governments of member nations, which have the ultimate decision-making power within the organizations on all matters, including policy, financial, and membership issues. Member countries govern the World Bank Group through the Boards of Governors and the Boards of Executive Directors. These bodies make all major decisions for the organizations.

To become a member of the Bank, under the IBRD Articles of Agreement, a country must first join the International Monetary Fund (IMF). Membership in IDA, IFC, and MIGA are conditional on membership in IBRD. In each of these cases, member countries buy shares in the institution, thereby helping 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.

In tandem with the IMF, and in consultation with other WBG staff members, the Corporate Secretariat Vice Presidency coordinates the process for new membership and maintains the information relating to the status of membership, which includes the membership lists.

As of June 2014, IBRD had 188 members, IDA had 173, IFC had 184, MIGA had 180, and ICSID had 150.

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