The World Bank Group is hiring for its Young Professionals Program! You will no doubt have heard of the World Bank, but how much do you actually know about it and what it does – let us give you a brief overview and hopefully we can entice you to attend our recruitment event June 16th where you’ll discover an array of exciting job opportunities for Young Professionals.
Since beginning operations in June 1946, the World Bank has striven to develop sustainable solutions which aim to reduce poverty and build shared prosperity in developing countries.
The World Bank was created in 1944 out of the Bretton Woods Agreement which was spearheaded by the United Nations in the latter days of World War II.
This Agreement included a number of components:
- a collective international monetary system
- the formation of the World Bank
- the creation of the International Monetary Fund (IMF)
The original goals of both the World Bank and the IMF were to support European and Asian countries needing financing to fund post-war reconstruction efforts.
Whilst President Nixon put a stop to the Bretton Woods international monetary system in the 1970s, the World Bank and IMF remained open and continue to thrive on providing worldwide aid.
On the other hand, both institutions have their headquarters in Washington D.C. and the World Bank currently has more than 10,000 employees originating from more than 170 countries. It consists of 189 member countries and has offices in over 130 locations.
World Bank Group is a unique global partnership comprising five institutions:
- IBRD: The International Bank for Reconstruction and Development
- IDA: The International Development Association
- IFC: The International Finance Corporation
- MIGA: The Multilateral Investment Guarantee Agency
- ICSID: the International Centre for Settlement of Investment Disputes
All institutions have their own country membership, governing boards, and articles of agreement. Moreover, they are all working towards a common goal to serve partner countries. Current development challenges can only be met if:
- Firstly, the private sector is part of the solution; IFC, MIGA, ICSID all focus on strengthening the private sector in developing countries
- Secondly, the public sector sets the groundwork to enable private investment and allow it to thrive; IBRD and IDA provide financing; policy advice and technical assistance to governments of developing countries
Moreover, by joining the truly global team of the World Bank Group; you will be working towards achieving their mission:
- Firstly, to end extreme poverty by reducing the share of the global population that lives in extreme poverty to 3% by 2030
- Secondly, to promote shared prosperity by increasing the incomes of the poorest 40% of people in every country
Finally, don’t miss your chance to speak ONLINE to recruiters from the World Bank Group on Tuesday 16 June. Find out more about their Young Professional Program and how to apply! This information event is online and totally free to attend. Register here