Spain became a member of the International Bank for Reconstruction and Development — the World Bank — in 1958 and was a borrower until 1977. Spain is also a member of the International Development Association (IDA), the Multilateral Investment Guarantee Agency (MIGA), the International Finance Corporation (IFC), and the International Centre for Settlement of Investment Disputes (ICSID).
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.