World Bank
/ˈwɜrld bæŋk/
Definitions
- (n.) An international financial institution that provides loans and grants to the governments of poorer countries for development projects and economic reform.
The World Bank approved a loan to improve infrastructure in the developing nation.
- (n.) A legal entity governed by international agreements and treaties, subject to specific immunities and privileges under public international law.
The World Bank enjoys immunity from national jurisdiction under its founding agreements.
Forms
- world bank
- world banks
Related terms
See also
Commentary
In legal drafting, reference to the World Bank often entails its treaty-based status and immunities; distinguish its financial functions from its legal personality in agreements.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.