The World Bank was founded in post-war 1944 and created to redevelop countries. It was expanded to develop emerging countries and keep mid-tier countries developed. The member countries are first members of the IMF, who then also join the World Bank. These 187 countries combine and work through their 10,000 employees and 100 offices worldwide.
The programs are numerous and expansive, but are all contained within 4 primary diversions. The IBRD aims to reduce poverty in countries who struggle with credit worthiness and income, while the IDA is mainly concerned with the poorest countries.
The countries come together to vote based on shares (shares are paid for by the member country), and work through a Board and Executive Committee to make solid decisions about where moneys should be spent, assets allocated, and direction the WB would take.
The top member by percent in all divisions is the United States. The Percents by Divisions are as follows:
Multilateral Investment Guarantee Agency:
United States 14.98%
United Kingdom 4.02%
Saudi Arabia 2.63%
Russia Fed 2.63%
International Development Association:
United States 11.03%
United Kingdom 5.43%
Saudi Arabia 3.17%
International Finance Committee:
United States 23.58%
United Kingdom 5.02%
Russia Fed 3.38%
International Bank for Reconstruction and Development:
United States 15.80%
United Kingdom 4.40%
Russia Fed 2.68%
Saudi Arabia 2.68%
Idea: This group is still based on facts from decades (or more) ago. Why is the United States leading this group by so much? Why is China 2 on the list when it comes to GDP but way behind most smaller nations when it comes to this? Why not call them on that? Why not ask (or offer) some countries to be smaller entities based on current stress levels in their home countries, such as Italy and France? Why not back off the United States percentage seeing as we have much more needs at home? OR flip it around and start using this as leverage to get other countries to understand exactly how much we keep giving, while getting so very little in return? No matter how you look at it- this needs to be looked at seriously and rebalanced to reflect current world conditions and economies.