The Government of Canada's formal relationship with the World Bank is conducted principally by four agencies:
Canada’s participation in the World Bank and in its sister institution, the International Monetary Fund, is authorized by the Bretton Woods and Related Agreements Act which mandates the Minister of Finance to report yearly to Parliament on their operations and on the management of Canada’s interests in them. (See Related Links for access to the Annual Bretton Woods Report online. )
The Finance Department consults closely and on an on-going basis with Foreign Affairs and International Trade Canada, and CIDA to carry out its primary responsibility for managing Canada’s activities in the World Bank. Foreign Affairs and International Trade Canada is responsible for implementing Canada’s overall foreign and trade policy agendas. Several of their units are involved in World Bank-related issues. As for Canada’s bilateral aid agency, CIDA, its role is to deliver Canadian government-funded development assistance to developing countries and countries in transition, and to advise on development policy-related issues.
The overarching policy frameworks and strategies underpinning the World Bank’s mission and Canada’s own development assistance objectives as articulated by CIDA are broadly convergent, as are their respective approaches to specific themes and areas of intervention.
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