The president of the World Bank is, traditionally, supervision and leadership in a changing world pdf American. The World Bank and the IMF are both based in Washington, D.
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Before 1974, the reconstruction and development loans provided by the World Bank were relatively small. The Bank’s staff were aware of the need to instill confidence in the bank. The first country to receive a World Bank loan was France. France over two other applicants, Poland and Chile. 250 million, half the amount requested, and it came with strict conditions. France had to agree to produce a balanced budget and give priority of debt repayment to the World Bank over other governments.
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World Bank staff closely monitored the use of the funds to ensure that the French government met the conditions. French government that its members associated with the Communist Party would first have to be removed. Within hours, the loan to France was approved. 1947, many European countries began receiving aid from other sources. Faced with this competition, the World Bank shifted its focus to non-European countries. The size and number of loans to borrowers was greatly increased as loan targets expanded from infrastructure into social services and other sectors.