Parts I–II

This article aims to examine the modus operandi used by the World Bank Group’s founding institution—the International Bank for Reconstruction and Development (IBRD)—in implementing its development policy; the IBRD is the institution that is most often colloquially referred to as the World Bank. The World Bank is governed by the universally recognized principles of international intergovernmental organizations, having been established through the voluntary agreement of its member states. The nature of this international organization is universal and economic, with its internal rules of operation and organization dictated by the principles of international economic law. Thus, this paper analyzes the organization’s institutional structure, including the role and responsibilities of each principal body, as well as the financial instruments used by the institution and made available to member states.