The United Kingdom (UK) became a founding member of the International Bank for Reconstruction and Development (IBRD) in December of 1945 and played a crucial role in helping found the Bretton Woods institutions (World Bank and International Monetary Fund). Today, the United Kingdom remains a major shareholder and an important and influential partner in global efforts to reduce poverty.
Additionally, the UK is also a member of the International Development Association (IDA), which it joined in 1960, the International Finance Corporation (IFC) as of 1956, the Multilateral Investment Guarantee Agency (MIGA) as of 1988 and the International Centre for Settlement of Investment Disputes (ICSID) as of 1967.
The UK and the World Bank Group work together to develop policies on a wide range of issues, such as conflict prevention, governance, health, and education -- trying to enable millions in the poorest countries to be immunized, gain access to roads and clean water, and become teachers, among other benefits.
The Executive Director for United Kingdom, along with the other 24 members of the Board, is responsible for the conduct of the general operations of the Bank, and exercises powers delegated to him by the Board of Governors. Mr. Montgomery is a member of the Audit Committee (AC), and Vice-Chair of the Human Resources Committee (HRC).
Last Updated: Jun 22, 2021