India’s Anshula Kant is World Bank MD and CFO

  1. The World Bank has announced the appointment of Anshula Kant as Managing Director and Chief Financial Officer of the World Bank Group.
  2. She is currently the Managing Director of the State Bank of India(SBI). She will also be the first woman Chief Financial Officer of the World Bank.
  3. The World Bank was created at the 1944 Bretton Woods Conference along with the International Monetary Fund (IMF).The World Bank and the IMF are both based in Washington D.C and work closely with each other.
  4. The World Bank is an international financial institution that provides loans to countries of the world for capital projects.It comprises two institutions:(a)the International Bank for Reconstruction and Development (IBRD) and the (b)International Development Association (IDA).The World Bank is a component of the World Bank Group.
  5. The World Bank’s most recent stated goal is the reduction of poverty.As of November 2018,the largest recipients of World bank loans were India and China through loans from IBRD.