Membership

 Any country can become the member of world bank if 75% of the existing member countries approved the application.

 Any member nation can also resign from its membership voluntarily or if any country violates the rules of the world bank.

Management

 Management of world bank includes - Board of Governors, Board of Executive Directors, Loan Committee, Advisory Committee, President and other members of the staff.

 Board of Governors of the world bank includes one Governor (Finance Minister) and one alternate governor (governor of central bank) appointed by each member country for a term of 5 years. Each governor has voting power in relation to its financial contribution to the capital of the bank. Board is required to meet at least once in a year.

 Executive Directors are 21 and out of this 6 are appointed by the six largest shareholders like USA, UK, Germany, France and Japan. The remaining 15 members are elected by the rest of member countries. It meets once a month to carry on daily routine work.

 President is appointed by board of executive directors.

 World Bank perform its functions with the help of two committees - Advisory Committee and the Loan Committee. Advisory Committee includes 7 expertsappointed by the Board of Governors. Loan Committee is constituted by the executive directors and loan is provided as per the economies of member countries.

Lending Procedures

 Loans out of its own funds

 Loans out of borrowed capital

 Loans through Bank's Guarantee