Today's problems do not stop at national borders. Conflict, poverty, food security, preserving the environment, and climate change are global challenges that require international cooperation. To that end, Germany firmly backs multilateral efforts to establish peace, promote a stable global economy, and encourage the use of renewable resources and environmentally friendly production.
Germany became the first country in Europe to establish a development ministry, in 1961. Today, Germany is the third largest shareholder of the World Bank. It joined the International Bank for Reconstruction and Development (IBRD) — the World Bank — in 1952, and the International Development Association — the Bank’s fund for the poorest countries — in 1960. Germany is also a member of the International Finance Corporation (1956), the Multilateral Investment Guarantee Agency (1988), and the International Centre for Settlement of Investment Disputes (1969).