Part VI International Monetary Law and the International Financial Architecture, XL The World Bank and Other International Financial Institutions

Subject(s):

International investment law — International monetary law — International trade

This chapter examines the World Bank and other international financial institutions. The International Bank for Reconstruction and Development (IBRD), commonly called the World Bank, together with the International Monetary Fund, forms the institutional backbone of the international monetary system and the international finance architecture designed at Bretton Woods. Together with its sister organizations and affiliates, the IBRD forms the World Bank Group. Aside from the World Bank Group, the chapter also outlines the regional development banks and other regional financial institutions. The chapter also devotes a section for the Bank for International Settlements (BIS) in particular. The objectives of the BIS are to promote cooperation among central banks; to administer resources for loans to members and for other financial operations; and to manage, as trustee or agent, international financial transactions.