The World Bank and Australia

Australia is an important member and contributor to the World Bank Group, including the International Development Association (IDA), which is at the heart of delivering the World Bank Group’s mission to end poverty on a livable planet in the world’s low-income countries. In turn, the Bank Group is Australia’s largest multilateral partner. An important objective of Australia’s partnership is to ensure that the World Bank Group actively prioritizes the Indo-Pacific region, where Australia’s development program is focused.

Australia joined the World Bank in 1947 and has remained an active shareholder and partner, supporting the organization’s significant convening power and strong presence in partner countries. Australia collaborates closely with the World Bank across the Pacific region, particularly in the sectors of health, education, social protection, and climate-resilient infrastructure.

Australia supports economic development in the Indo-Pacific through contributions to the World Bank’s International Development Association (IDA), which provides concessional financing, knowledge, and advice catalyzing national development in low-income countries, including those in the Indo-Pacific. IDA is closely aligned with Australia’s international overseas assistance priorities: promoting private sector development; advancing gender equality; effective governance; supporting fragile states; and tackling climate change.

The PNG and the Pacific Islands Umbrella Facility (PPIUF) is a major part of Australia’s support for World Bank work in the Pacific and will be in place until at least 2031. Through the PPIUF, the Government of Australia (alongside the New Zealand Government) plays a pivotal role in strengthening the resilience and prosperity of the Pacific region.

The PPIUF builds on earlier support and partnerships in place since 2014, which contributed to a 50% increase in the World Bank’s Pacific-based staff and a seven-fold increase in the number of World Bank-supported projects in the region. The PPIUF is led largely through IDA and receives important contributions from Australia, along with its neighbor and close partner, New Zealand.

Other funds Australia supports: 

• Consultative Group for International Agricultural Research (CGIAR)
• Global Partnership for Education
• Global Environment Facility
• Health Emergency Preparedness and Response Umbrella Program

Governor

The Treasurer of Australia serves as the Governor for the World Bank and is responsible for the management of Australia’s interests in the institution. The Treasurer exercises influence by exchanging views with fellow governors at the Annual and Spring Meetings of the Boards of Governors and of the Development Committee, as well as by engaging in direct discussions with the President and senior management of the World Bank.

Executive Director

The Governor delegates day-to-day handling of Australia’s interests at the Bank to the Office of the Executive Director who represents Australia, Cambodia, Kiribati, Republic of Korea, Republic of the Marshall Islands, Federated States of Micronesia, Mongolia, Nauru, New Zealand, Palau, Papua New Guinea, Samoa, Solomon Islands, Tuvalu, and Vanuatu.

The Executive Director is supported by an Alternate Executive Director and a team of advisors.

The Executive Director represents Australia on the 25-member Board of Directors of the World Bank Group. The Executive Directors oversee the Bank’s governance and annual commitments of over $60 billion as well as the implementation of the World Bank’s mission to end extreme poverty and boost prosperity on a livable planet.

The Board of Executive Directors, who reside in Washington, D.C., meet regularly throughout the year (normally at least twice a week) to review and act on lending operations, new policy directions, and financial matters. In keeping with the World Bank Group’s Access to Information Policy, the monthly Boards Calendar is available to the public.

Shares and Voting Power

The World Bank Group has a weighted system of voting. All members of the Bank receive votes consisting of share votes (one vote for each share of the Bank’s capital stock held by the member) plus basic votes (calculated so that the sum of all basic votes is equal to 5.55% of the sum of basic votes and share votes for all members). The voting power distribution differs among organizations within the World Bank Group.

For the latest voting status, please visit the Voting Powers page.