The president of the World Bank is, traditionally, an American. The World Supervision and leadership in a changing world pdf and the IMF are both based in Washington, D.
Before 1974, the reconstruction and development loans provided by the World Bank were relatively small. The Bank’s staff were aware of the need to instill confidence in the bank. The first country to receive a World Bank loan was France. France over two other applicants, Poland and Chile. 250 million, half the amount requested, and it came with strict conditions. France had to agree to produce a balanced budget and give priority of debt repayment to the World Bank over other governments.