Italy became a member of the International Bank for Reconstruction and Development in March 1947. It was among the first countries to get a loan to help rebuild the economy after the war. Today, Italy is a member of the five institutions that form the World Bank Group. Italy and the World Bank work together with other member governments to finance projects, design policies and deliver programs to eradicate poverty in the developing world.

World Bank Governor
Each member country of the World Bank Group is represented on the Board of Governors, the senior decision-making body, which meets twice a year during the Spring and Annual Meetings. Generally, the Governors are government ministers, such as Ministers of Finance or Ministers of Development, who have specific power to admit and suspend members of the World Bank Group, to increase or decrease the authorized capital stock, to determine the distribution of the net income of the Bank, and to decide on the World Bank Group’s overall strategic direction, among others. Italy representatives on the Board of Governors are:

• Governor: Mr. Ignazio Visco, Governor of the Central Bank of Italy 
• Alternate Governor: Mr. Carlo Monticelli, Head of International Financial Relations, Treasury Department,
  Italian Ministry of Economy and Finance

World Bank Executive Director
The governors delegate responsibility for overseeing the day-to-day business to their designated representatives on the World Bank's Executive Board. The 25 Executive Directors represent the 188 member countries of the World Bank, and normally meet twice a week to decide on borrowing and financial questions, projects, and on policies that impact the World Bank Group’s general operations. Italy's representation to the Boards of IBRD, IFC and MIGA is shared with Albania, Greece, Portugal, San Marino, Timor-Leste, and, with the exception of the IDA’s Board, also with Malta.

Italy’s Executive Directors are:

• Executive Director: Mr. Piero Cipollone (of Italy)
• Alternate Executive Director: Mr. Nuno Mota Pinto (of Portugal)
  
  Office of the Executive Director for Italy 
  Email: eds2@worldbank.org 

The World Bank office in Italy
The World Bank's External Affairs Europe offices are responsible for the World Bank's daily dialogue with eighteen Western European countries, including Italy. The daily relations between the Italian government and the World Bank is ensured through an External Relations office based in Rome.