TheWorld Bank was established in 1944.
The World Bank group constitute with 5international organizations such as the International Bank for Reconstructionand Development (IBRD), the International Development Association (IDA), theInternational Finance Corporation (IFC), the Multilateral Investment GuaranteeAgency (MIGA), and the International Centre for Settlement of InvestmentDisputes (ICSID). It is the largest development bank in the world andspecifically targeting on developing countries in helping to fight the povertywith sustainable solution. Some of its Millennium Development Goals are toreduce extreme poverty and ensure the environment sustainability. Over the lastfew decades, The World Bank has contributed and created many environmentalprograms and policies to reduce the pollution and prevent the naturalresources, watersheds, landscape, and seascapes from being destroyed byindividuals and industries because environment is the key point in increasingeconomic growth and human wellbeing. It roles in global environmentalgovernance are as follows: The World Bank group is the partner of the GlobalEnvironment Facility (GEF) and playing some major roles as the trustee ofthe GEF and related trust funds; as one of the original implementing Agenciesof GEF-funded projects; and providing administrative services as the host ofthe functionally independent GEF Secretariat (“World Bank Group’sPartnership with the Global Environment Facility,” n.d.
). The World Bankalone also created many programs in order to protect the environment. There is the Pollution Management andEnvironmental Health Program. This program aims to solve the problem in thecountries which severely impact by pollution.
For example, from 2009-2016, IBRDand IDA contribute around US$6.5 billion in pollution management andenvironment health resulting in reducing air pollution in Mongolia and decreasepollution in China’s rivers