Each of the World Bank Group organizations operates according to procedures established by its articles of agreement, or an equivalent governing document. These documents outline the conditions of membership and the general principles of organization, management, and operations.
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The IBRD Articles of Agreement were drawn up at the United Nations Monetary and Financial Conference, at Bretton Woods, New Hampshire, July 1-22, 1944. The governing document became effective on December 27, 1945, and has been amended three times: December 17,1965, February 16, 1989 and June 27, 2012.
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The IFC Articles of Agreement were drawn up by the Bank's Executive Directors, and came into effect on July 20, 1956. IFC's governing document has been amended four times: September 21, 1961, September 1, 1965, April 28, 1993 and June 27, 2012.
The IDA Articles of Agreement were drawn up by the Bank's Executive Directors, and came into effect on September 24, 1960.
The MIGA Convention was discussed by the Bank's Executive Directors on the basis of draft conventions prepared by Bank staff. The Convention came into force on April 12, 1988.
The ICSID Convention was established by a multilateral agreement and entered into force on October 14, 1966.
Last Updated: Jan 18, 2019