As an expert in international finance, I have a deep understanding of the structure and operations of the World Bank Group. The World Bank Group is a vital part of the global financial architecture, providing financial and technical assistance to developing countries for the purpose of promoting economic development and reducing poverty.
The World Bank Group is not a single entity but a complex organization consisting of five institutions: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for Settlement of Investment Disputes (ICSID). Each of these institutions has its own specific focus and mandate.

The IBRD, established in 1944, is the original institution of the World Bank Group. It primarily provides loans and guarantees to middle-income and creditworthy lower-income countries. The IDA, on the other hand, focuses on providing interest-free loans and grants to the poorest countries. The IFC is the private sector arm of the World Bank Group, which offers investment and advisory services to private enterprises in developing countries.
MIGA provides political risk insurance and credit enhancement to encourage foreign direct investment in developing countries. Lastly, the ICSID offers dispute resolution services for international investment disputes.

Regarding the membership, the World Bank Group operates under a governance structure that includes a Board of Governors, which is the highest decision-making body. Each member country of the World Bank Group is represented on the Board of Governors, and the number of members can vary across the different institutions within the group.

As of my last update, the IBRD has 189 member countries, which is reflective of nearly the entire membership of the United Nations. This broad membership base allows the IBRD to leverage a wide range of perspectives and experiences in its operations. The other institutions within the World Bank Group may have slightly different membership numbers due to their specific mandates and the nature of their work. For instance, the IDA has between 153 and 184 members, which can fluctuate as countries graduate from the IDA to the IBRD or as new members join.

The World Bank Group's institutions are all run by a Board of Governors, which meets once a year. This annual meeting provides an opportunity for member countries to discuss the Bank's operations, review its policies, and set its strategic direction for the coming year. In addition to the Board of Governors, there is also an Executive Directors group that manages the daily operations and carries out the decisions of the Board.

In conclusion, the World Bank Group is a dynamic and multifaceted organization with a significant impact on global development. Its membership is extensive and diverse, reflecting the international community's commitment to collaborative efforts in reducing poverty and promoting sustainable economic growth.

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The IBRD has 189 member governments, and the other institutions have between 153 and 184 members. The institutions of the World Bank Group are all run by a Board of Governors meeting once a year.read more >>