H St. NW
Washington, DC 20433
President: Robert Zoellick
The World Bank is a vital source of financial and technical assistance to developing countries around the world. It is not a bank in the common sense but made up of two unique development institutions owned by 186 member countries -- the International Bank for Reconstruction and Development (IBRD) and
the International Development Association (IDA).
Each institution plays a different but
supportive role in the World Bank's mission of global poverty
reduction and the improvement of living standards. The IBRD focuses
on middle income and creditworthy poor countries, while IDA focuses
on the poorest countries in the world. Together the World Bank
provides low-interest loans, interest-free credit and grants
to developing countries for education, health, infrastructure,
communications and many other purposes.
The term "World Bank Group" incorporates
five closely associated entities that work collaboratively toward
poverty reduction: the World Bank (IBRD and IDA), and three other
agencies, the International Finance Corporation (IFC), the Multilateral
Investment Guarantee Agency (MIGA) and the International Centre
for Settlement of Investment Disputes (ICSID).
The five largest shareholders in the World
Bank are France, Germany, Japan, the United Kingdom and the United
Headquarters of the World Bank are in Washington
DC with offices in more than 100 countries. The World Bank employs
economists, educators, environmental scientists, financial analysts,
anthropologists, engineers and many others.
Established July 1, 1944 during a
conference of 44 countries in Bretton Woods, New Hampshire.
Since its inception, the World Bank expanded
from a single institution to an associated group of coordinated
development institutions. The Bank's mission evolved from a
facilitator of post-war reconstruction and development to
its present day mandate of worldwide poverty alleviation.
Health, Life, Accident, and Other Insurance
Headquarters-recruited staff and
their eligible family members (including domestic partners) may
choose from three comprehensive medical/dental benefit plans
available, with no preexisting condition exclusions if enrollment
is made within 31 days of entry-on-duty. Staff members
recruited to a Country Office are also eligible for a comprehensive
medical/dental benefits plan for themselves and eligible family
members including domestic partners.
The World Bank also provides basic life
and accident insurance to all staff at no cost, and Headquarters-recruited
staff can also elect additional life and accident insurance coverage
at their own expense. Disability and Worker's Compensation coverage
is also provided to all staff at no cost.
The World Bank sponsors a comprehensive
pension plan for all staff. Both staff and the World Bank make
a contribution towards a pension which is utilized upon retirement.
Relocation, Resettlement and Expatriate
For staff appointed to positions
subject to international recruitment, the World Bank pays relocation
benefits upon appointment and resettlement benefits upon end
of employment. The World Bank also pays a mobility premium to
eligible expatriate staff appointed to positions at Headquarters
subject to international recruitment, with eligibility based
on nationality and visa/residency status in the appointment duty
station. (Staff members appointed to non-Headquarters positions
subject to international recruitment may be eligible for other
New staff receive 26 days of annual
leave and 15 days of sick leave per year, accrued daily.