The World Bank and Canada

Since 1945, Canada and the World Bank Group have worked together with other member governments to finance projects, design policies, and deliver programs with the goal of ending poverty and creating a world based on the principles of sustainable development.

The World Bank Group benefits from having among its leading members a country that has long been a strong proponent of multilateralism. Enshrining that concept as the foundation of the international order has been a hallmark of Canada’s foreign policy since the end of World War II.

For Canada, membership in the world’s premier multilateral development financing institution enables it to leverage its funds as well as the Bank’s knowledge and capabilities for greater impact on poverty reduction and sustainable development worldwide. For its part, the World Bank Group recognizes Canada not only as a significant financial contributor but also as a steadfast partner in the effort to achieve its goals of ending extreme poverty and boosting shared prosperity on a livable planet.

Canada is a founding member of the World Bank Group and has played an important role in influencing its development priorities since the International Bank for Reconstruction and Development (IBRD) was established. Canada has a long history of substantially supporting the World Bank Group’s mission and has been a generous supporter of the International Development Association (IDA), which provides concessional financing, knowledge, and advice catalyzing national development and transforming the lives of hundreds of millions of people across the world.

Canada is a valued, active partner of the World Bank Group through its thought leadership as well as its financial support. This partnership is generating results that improve lives in low and middle-income countries around the world. In close partnership with Canada, the World Bank Group has provided extensive support to small island developing states and other vulnerable states. Canada supports the Bank Group’s efforts to counter instability and promote security and a cleaner, healthier world.

Canada is a leading member and valued partner of the International Development Association (IDA), which is at the heart of delivering the World Bank Group’s mission to end poverty on a livable planet in the world’s low-income countries.

Canada’s priorities at the Bank include promoting gender equality; tackling climate change and fostering green growth; advocating for the unique needs of small island developing states; and addressing the needs of the most vulnerable, including women and girls.

Among the funds Canada supports:

• Afghanistan Resilience Trust Fund
• Canada-IFC Blended Climate Finance Program
• Canada-World Bank Clean Energy and Forests Climate Facility
• Climate Investment Funds
• Global Environment Facility
• Global Financing Facility
• Global Fund to Fight AIDS, Tuberculosis, and Malaria
• Global Partnership for Education
• Public Expenditures for Administrative Capacity Endurance in Ukraine Project (PEACE)

Governor

The Minister of Finance is Canada’s Governor for the World Bank and is responsible for the management of Canada’s interests in the institution. The Minister exercises influence by exchanging views with fellow governors at the Annual and Spring Meetings of the Boards of Governors and of the Development Committee, as well as by engaging in direct discussions with the President and senior management of the World Bank.

Executive Director

The Governor delegates the day-to-day handling of Canada’s diverse interests at the Bank to the Executive Director for Canada. At the Board level, Canada is responsible for its own interests and those of Ireland and 11 other Commonwealth countries. The Canadian Executive Director is elected to the Board by the governments of Canada, Ireland, and the Caribbean-region countries of Antigua and Barbuda, the Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines.

The Canadian Executive Director is supported in his or her functions by an Alternate Executive Director from one of the Caribbean members of the constituency. The Executive Directors oversee the Bank’s governance and annual commitments of over $60 billion as well as the implementation of the World Bank’s mission to end extreme poverty and boost prosperity on a livable planet.

Canada’s Department of Finance coordinates input from Global Affairs Canada and channels Canada’s unified policy advice through the Executive Director to the World Bank’s senior management.

The Board of Executive Directors, who reside in Washington, D.C., meets regularly throughout the year (normally at least twice a week) to review and act on lending operations, new policy directions, and financial matters. In keeping with the World Bank Group’s Access to Information Policy, the monthly Boards Calendar is available to the public.

Shares and Voting Powers

The World Bank Group has a weighted system of voting. All members of the Bank receive votes consisting of share votes (one vote for each share of the Bank’s capital stock held by the member) plus basic votes (calculated so that the sum of all basic votes is equal to 5.55% of the sum of basic votes and share votes for all members). The voting power distribution differs among the various organizations within the World Bank Group.

For the latest on Canada’s voting powers, visit the Voting Powers page.