Iceland became a member of the five institutions that form the World Bank Group on Dec. 27, 1945. Today, Iceland is a member of the five institutions that form the World Bank Group. Iceland and the World Bank work with other member governments to finance projects, design policies, and deliver programs to end poverty in the developing world.
COVID-19 has triggered the deepest global recession in decades. While the ultimate outcome is still uncertain, the pandemic will result in contractions across the vast majority of emerging market and developing economies. It will also do lasting damage to labor productivity and potential output.
Pandemics, climate change, conflict. The world faces threats that can only be solved through cooperation and coordination across borders.
Since its founding, The World Bank Group has evolved to meet new challenges to ending extreme poverty and creating opportunity for all. Along with a vast network of worldwide partners, we continue to adapt with new innovative lending approaches, partnering with the private sector to expand funding for development, and responding to global threats that affect rich and poor alike.
“For we shall prosper individually, only as we prosper collectively” - Eugene Meyer. First World Bank President.