Every shareholder is allocated a certain number of votes linked to the size of its shareholding. The votes include a specified number of membership votes (which is the same for all members) and additional votes based on the number of shares held. The number of votes of a member expressed as a percentage of the total number of votes held by all shareholders is the member’s voting power.
International Bank for Reconstruction and Development (IBRD)
The United Kingdom officially became a member of IBRD on December 27, 1945 (founding member).
Established in 1944 as the original institution of the World Bank Group, IBRD is structured like a cooperative that is owned and operated for the benefit of its 188 member countries. IBRD raises most of its funds on the world's financial markets and has become one of the most established borrowers since issuing its first bond in 1947. The income that IBRD has generated over the years has allowed it to fund development activities and ensure its financial strength, which enables it to borrow at low cost and offer clients good borrowing terms.
United Kingdom’s share in IBRD’s capital (as of April 13, 2012):
|Potential Voting Power||4.31%|
|Paid in Capital (USD)||US$ 570.60 million|
International Development Association (IDA)
The United Kingdom officially became a member of IDA on September 24, 1964.
The International Development Association (IDA), which is part of the World Bank, provides interest-free loans and grants to the poorest countries since 1960. Unlike IBRD, which raises most of its funds on the financial markets, IDA is funded largely by contributions from the governments of the richer member countries, and to a lesser extent from IBRD's income and repayments of earlier IDA credits. Since IDA resources must be periodically replenished, donors meet every three years to provide new capital to IDA. The most recent replenishment, IDA16 (i.e., the 16th replenishment round), which began in 2011, will finance projects over the three-year period ending June 30, 2014.
IDA Participation (as of April 13, 2012) :
In the last IDA16 replenishment, the UK was the second largest donor to IDA with a basic contribution of £2.664 billion for the three years 2011-2015 as reported by the UK’s Department for International Development.
|IDA 16 Share||12.08%|
|Total Voting Power||5.44%|
For a detailed overview of the shares and voting power of the United Kingdom on the Executive Board, click here. For a full overview of shares and voting powers for all 172 members, click here.
History of the United Kingdom’s contributions to IDA:
| ||Basic (US$M)||% of Total||Suppl (US$M)|
|IDA 1||116.53||12.97|| |
|IDA 2||187.61||13.09|| |
|IDA 3||375.22||12.91|| |
|IDA 4||499.50||11.06|| |
|IDA 6||1212.00||10.07|| |
|IDA 7||603.00||6.63|| |