The World Bank is considered to be the most important multilateral development bank (MDB). Since it was founded in 1944 at the United Nations Monetary and Financial Conference to finance the reconstruction of war-torn Europe, it has reinvented itself several times. The most significant change was the transformation from a reconstruction bank to a development bank. Today, the World Bank finances exclusively in countries of the global South, while continuing to be controlled by the economic powers of the global [...]
