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EN
International Bank for Reconstruction and Development, also known as the World Bank, was created together with the International Monetary Fund at the Bretton Woods Conference in July 1944. Articles of Agreement, signed by the countries participating in the conference, defined five major regulations of the existence of the Bank. Those regulations soon proved to be insufficient and the new institution had to face many organizational problems which limited the role of the President of the Bank leaving it unable to make any loan decisions. The task of changing this situation was taken up by John McCloy, who acted as the Bank's president between 1947 and 1949. This article examines the policy of the World Bank during its first years, in which it could not stay indifferent to the changing political realities in international relations, such as the implementation of the Truman Doctrine and the Marshall Plan. The article reassesses the role of the World Bank in international relations after 1945, presents hearings before the Senate Committee on Foreign Relations, correspondence between John McCloy and Harry Truman and between McCloy and Averell Harriman from the Economic Cooperation Administration, established to administer the Marshall Plan in Europe.
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