59-511: Pierre Isaac Isidore Mendès France ( French: [pjɛʁ mɑ̃dɛs fʁɑ̃s] ; 11 January 1907 – 18 October 1982) was a French politician who served as prime minister of France for eight months from 1954 to 1955. As a member of the Radical Party , he headed a government supported by a coalition of Gaullists ( RPF ), moderate socialists ( UDSR ), Christian democrats ( MRP ) and liberal-conservatives ( CNIP ). His main priority
118-870: A "distinct role" and together form the World Bank—the IBRD, the International Development Association (IDA), the International Finance Corporation (IFC), that "invests in private firms and promotes entrepreneurship", the Multilateral Investment Guarantee Agency (MIGA), that guarantees loans, and the International Centre for Settlement of Investment Disputes (ICSID). Their mission is to "fight poverty and improve living standards for people in
177-599: A "fraction of the $ 72 billion the IMF approved as a credit line to a single nation, Mexico." In the early 2010s, the total of "capital investments in emerging markets from all sources have topped $ 1 trillion annually". According to the Institute of International Finance , in 2011, the "combined net investment of the World Bank and other international development banks and agencies" was about $ 20 billion in 2011. According to
236-793: A 2019 The Economist article, the IBRD is "more controversial" than the International Development Association (IDA) lending arm. With its AAA credit rating, the IBRD can "borrow money cheaply on the international financial markets". Middle-income countries, like Brazil and China, that currently borrow from the IBRD, could "borrow in abundance from foreign investors" on their own. The IBRD provides financial services as well as strategic coordination and information services to its borrowing member countries. The Bank only finances sovereign governments directly, or projects backed by sovereign governments. The World Bank Treasury
295-531: A French presidential election. Defferre gained only 5% of the vote and was eliminated in the election's first round. When François Mitterrand formed a new Socialist Party in 1971, Mendès France supported him, but did not attempt another political comeback. He lived long enough to see Mitterrand elected president. National Assembly of France General Council Municipal council Changes Prime minister of France The prime minister of France (French: Premier ministre français ), officially
354-591: A March 2012 Washington Post article, IBRD was the "original 'world bank'". IBRD field offices were opened in Paris , France, Copenhagen , Denmark, and Prague in the former Czechoslovakia. The IBRD was established with the original mission of financing the reconstruction efforts of war-torn European nations following World War II, with goals shared by the later Marshall Plan . The Bank issued its inaugural loan of $ 250 million ($ 2.6 billion in 2 dollars ) to France in 1947 to finance infrastructure projects. In 1946,
413-836: A breakaway group from the SFIO. In April 1960, the PSA merged with several other groups to form the Unified Socialist Party (PSU). He made an unsuccessful bid to regain his seat in the National Assembly representing Eure in the 1962 election. In 1967 he returned to the Assembly as a PSU member for the Isère , but again lost his seat in the 1968 landslide election victory of the Gaullist party UDR . Mendès France and
472-650: A deal that gave the Viet Minh control of Vietnam north of the seventeenth parallel, and allowed him to pull out all French forces. He is considered one of the most prominent statesmen of the French Fourth Republic . Mendès France was born on 11 January 1907 in Paris, the son of a textile merchant from Limoges . He was descended from Portuguese Jews who settled in France in the 16th century. He studied at
531-521: A few months after it became operational, Chile sought financial help from the IBRD—the first of the developing countries to do so. Throughout the remainder of the 1940s and 1950s, the Bank-financed projects sought to dam rivers, generate electricity and improve access to water and sanitation. It also invested in France, Belgium, and Luxembourg's steel industry. Following the reconstruction of Europe,
590-558: A government's failure to meet its contractual obligations. The IBRD's Enclave Partial Risk Guarantee covers private projects in member countries of the IDA against sovereign governments' failures to fulfil contractual obligations. The Bank provides an array of financial risk management products including foreign exchange swaps , currency conversions, interest rate swaps , interest rate caps and floors , and commodity swaps . To help borrowers protect against catastrophes and other special risks,
649-421: A majority. While prime ministers are usually chosen from amongst the ranks of the National Assembly, on rare occasions the president has selected a non-officeholder because of experience in bureaucracy or foreign service, or success in business management—former Minister of Foreign Affairs Dominique de Villepin , for example, served as prime minister from 2005 to 2007 without having held elected office. Although
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#1732775767756708-457: A preferred rate because of its AAA credit rating. In 2011, it raised US$ 29 billion in capital from bond issues made in 26 different currencies . The Bank offers several financial services and products, including flexible loans, grants, risk guarantees, financial derivatives, and catastrophic risk financing. It reported lending commitments of $ 26.7 billion made to 132 projects in 2011. There are five "closely associated institutions" that each have
767-608: A senior official in the United States Treasury Department . The IBRD member nations did not sponsor a "rival candidate" and Malpass became president, in spite of the fact that he is critical of the role of the IBRD. The International Bank for Reconstruction and Development (IBRD) and International Monetary Fund (IMF) were established by delegates at the Bretton Woods Conference in 1944 and became operational in 1946. According to
826-514: Is Michel Barnier , who was appointed on 5 September 2024. The prime minister is appointed by the president of France , who is theoretically free to pick anyone for the post. In practice, because the National Assembly has the power to force the resignation of the government by adopting a motion of no confidence , the choice of prime minister must reflect the will of the majority in the National Assembly. In periods of cohabitation ,
885-602: Is an international financial institution , established in 1944 and headquartered in Washington, D.C. , United States; it is the lending arm of World Bank Group. The IBRD offers loans to middle-income developing countries . It is the first of five member institutions that compose the World Bank Group. The initial mission of the IBRD in 1944, was to finance the reconstruction of European nations devastated by World War II. The IBRD and its concessional lending arm,
944-545: Is chaired by the President of the World Bank Group . The executive directors collectively represent all 189 member states of the World Bank. The president oversees the IBRD's overall direction and daily operations. The Bank and IDA operate with a staff of approximately 10,000 employees. On 9 April 2019, United States President Donald Trump nominated David Malpass as the World Bank Group's president. Malpass had served as one of President Trump's economic advisers and as
1003-522: Is owned and governed by its 189 member states, with each country represented on the Board of Governors. The IBRD has its executive leadership and staff which conduct its normal business operations. The Bank's member governments are shareholders which contribute and have the right to vote on its matters. In addition to contributions from its member nations, the IBRD acquires most of its capital by borrowing on international capital markets through bond issues at
1062-605: Is the division of the IBRD that manages the Bank's debt portfolio of over $ 100 billion and financial derivatives transactions of $ 20 billion. The Bank offers flexible loans with maturities as long as 30 years and custom-tailored repayment scheduling. The IBRD also offers loans in local currencies . Through a joint effort between the IBRD and the International Finance Corporation , the Bank offers financing to subnational entities either with or without sovereign guarantees . For borrowers needing quick financing for an unexpected change,
1121-701: Is the only member of the government able to introduce legislation in Parliament. Under the Third Republic , the French Constitutional Laws of 1875 titled the head of government as the "President of the Council of Ministers" ( French : Président du Conseil des Ministres ), though he was informally called "prime minister" or "premier" outside of France . The president of the council was vested with similar formal powers to those of
1180-663: The Global Policy , journal, While the IBRD and the IDA historically prioritized funding infrastructure projects, since the 1990s, the Bank has directed less lending to infrastructure projects in favour of other development projects such as fighting climate change , eradicating poverty and ensuring good governance. The IBRD finances its activities from the shares its members hold, as well as borrowing on international capital markets by issuing World Bank bonds . The Bank raised US$ 54.0 billion worth of capital in fiscal 2019 from bonds issued in 27 different currencies . Since 1959,
1239-564: The Fifth Republic . It was at this point that the post was formally named "Prime Minister" and took its present form. The 1958 Constitution includes several provisions intended to strengthen the prime minister's position, for instance by restricting the legislature's power to censure the government. As a result, a prime minister has only been censured once during the existence of the Fifth Republic, in 1962 when Georges Pompidou
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#17327757677561298-783: The First Indochina War and the Algerian War of Independence . When French forces were defeated by the Vietnamese Communists at Dien Bien Phu in June 1954, the government of Joseph Laniel resigned, and Mendès France formed a government with support from the centre-right. Mendès France immediately negotiated an agreement with Ho Chi Minh , the Vietnamese Communist leader. There was, he said, no choice but total withdrawal from Indochina , and
1357-677: The International Development Association (IDA), are collectively known as the World Bank as they share the same leadership and staff. Following the reconstruction of Europe, the Bank's mandate expanded to advancing worldwide economic development and eradicating poverty . The IBRD provides commercial-grade or concessional financing to sovereign states to fund projects that seek to improve transportation and infrastructure , education , domestic policy, environmental consciousness , energy investments, healthcare, access to food and potable water , and access to improved sanitation . The IBRD
1416-577: The United Nations Economic and Social Council . In 1947, after democratic French politics resumed under the Fourth Republic , Mendès France was re-elected to the National Assembly. He first tried to form a government in June 1953, but was unable to gain the numbers in the Assembly. From 1950 he had been a consistent opponent of French colonialism , and by 1954 France was becoming hopelessly embroiled in major colonial conflicts:
1475-558: The prime minister of the French Republic ( Premier ministre de la République française ), is the head of government of the French Republic and the leader of its Council of Ministers . The prime minister is the holder of the second-highest office in France, after the president of France . The president, who appoints but cannot dismiss the prime minister, can request resignation. The Government of France , including
1534-464: The prime minister of the United Kingdom . In practice, this proved insufficient to command the confidence of France's multi-party parliament. Most notably, the legislature had the power to force the entire cabinet out of office by a vote of censure . As a result, cabinets were often toppled twice a year, and there were long stretches where France was left with only a caretaker government. Under
1593-581: The École des sciences politiques and the Faculty of Law of Paris , graduating with a doctorate in law and becoming the youngest member of the Paris bar association in 1926, at age 19. In 1924, Mendès France joined the Radical Party , the traditional party of the French middle-class centre-left (not to be confused with the mainstream SFIO , often called the Socialist Party). He married Lili Cicurel,
1652-528: The Assembly supported him by 471 votes to 14. Nevertheless, nationalist opinion was shocked, and Roman Catholic opinion opposed abandoning the Vietnamese believers to Communism. A tirade of abuse, much of it anti-Semitic , was directed at Mendès France. Jean-Marie Le Pen , then a Poujadist member of the Assembly, described his "patriotic, almost physical repulsion" for Mendès France. Undeterred, Mendès France next came to an agreement with Habib Bourguiba ,
1711-501: The Bank's mandate has transitioned to eradicating poverty around the world. In 1960, the International Development Association (IDA) was established to serve as the Bank's concessional lending arm and provide low and no-cost finance and grants to the poorest of the developing countries as measured by gross national income per capita. The IBRD is restricted in its borrowing, as it cannot provide loans in competition with private capital; IBRD loans have to be tied to specific projects; and
1770-601: The Constitution, the prime minister "shall direct the actions of the Government". Additionally, Article 20 stipulates that the government "shall determine and conduct the policy of the Nation", and it includes domestic issues, while the president concentrates on formulating directions on national defense and foreign policy while arbitrating the efficient service of all governmental authorities in France. Other members of
1829-559: The Finance Minister, René Pleven . Mendès France supported state regulation of wages and prices to control inflation, while Pleven favoured generally laissez-faire policies. When de Gaulle sided with Pleven, Mendès France resigned. Nonetheless, de Gaulle valued Mendès France's abilities, and appointed him as a director of the International Bank for Reconstruction and Development , and as French representative to
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1888-1019: The IBRD in their governance and operations, were established by countries that were not member nations of the WBG. This included the Inter‐American Development Bank (IDB), the African Development Bank (AfDB), the Asian Development Bank (ADB), the Development Bank of Latin America and the Caribbean (CAF), and the Islamic Development Bank (IsDB). Both the CAF and IsDB are "primarily owned and controlled by borrower countries." In
1947-456: The IBRD operates a Deferred Drawdown Option which serves as a line of credit with features similar to the Bank's flexible loan program. Among the World Bank Group's credit enhancement and guarantee products, the IBRD offers policy-based guarantees to cover countries' sovereign default risk, partial credit guarantees to cover the credit risk of a sovereign government or subnational entity, and partial risk guarantees to private projects to cover
2006-432: The IBRD will normally only finance the direct foreign exchange costs of a project. At the time of its creation, the IBRD was the only Multilateral Development Bank . During the period of decolonization —the mid‐1950s to the mid‐1970s—several MDBs were created—the International Finance Corporation , the International Development Association . They were both WBG members. During this period other MDBs that were similar to
2065-631: The IBRD, which is backed by world governments has had a triple-A credit rating , which allows it to borrow capital at lower rates. According to a 2015 article, commissioned by the Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development—also known as the Group of 24 (G-24)—multilateral development banks (MDBs)—such as the IBRD—"represent one of the most successful types of international organization created in
2124-452: The MDBs a "privileged position to be first in line for repayment, should a country face financial restrictions." The bank also generates income from the return on its equity and the small margins on the loans. As the IBRD does not seek profit, it transfers part of its excess income to the IDA ($ 259 million in fiscal 2019). In 2011, the IBRD loaned about US$ 26 billion, which represented just
2183-492: The PSU expressed sympathy for the sentiments and actions of the student rioters during the events of May 1968 , a position unusual for a politician of his age and status. One year later, Pompidou's socialist opponent in the presidential election of 1969 , Gaston Defferre of the SFIO, designated him his preferred Prime Minister prior to the election. The two campaigned together in what was the first – and so far only – dual "ticket" in
2242-753: The Radical Party would become the party of modernization and renewal in French politics, replacing the SFIO. An advocate of greater European integration , he helped bring about the formation of the Western European Union , and proposed far-reaching economic reform. He also favoured defence co-operation with other European countries, but the National Assembly rejected the proposal for a European Defence Community , mainly because of misgivings about Germany's participation. His cabinet fell in February 1955. In 1956 he served as Minister of State in
2301-465: The bank offers a Catastrophe Deferred Drawdown Option to provide financing after a natural disaster or declared state of emergency. It also issues catastrophe bonds which transfer catastrophic risks from borrowers to investors. The IBRD reported $ 23.2 billion in lending commitments for 100 projects in fiscal year 2019. The top 10 borrowers were India, Indonesia, Jordan, Egypt, Argentina, China, Morocco, Turkey, Ukraine and Colombia. The most supported sector
2360-519: The cabinet headed by the SFIO leader Guy Mollet , but resigned over Mollet's handling of the Algerian War, which was coming to dominate French politics. His split over Algeria with Edgar Faure , leader of the conservative wing of the Radical Party, led to Mendès France resigning as party leader in 1957. Like most of the French left, Mendès France opposed de Gaulle's seizure of power in May 1958 , when
2419-412: The circumstances, the president of the council was usually a fairly weak figure whose strength was more dependent on charisma than formal powers. Often, he was little more than primus inter pares , and was more the cabinet's chairman than its leader. After several unsuccessful attempts to strengthen the role in the first half of the twentieth century, a semi-presidential system was introduced under
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2478-489: The developing world." By 2018, the World Bank Group was "one of the world's largest sources of funding and knowledge for developing countries." Of the five institutions, the IBRD and the IDA are the World Bank's two largest units. When a country reaches a GDP per person over US$ 1,145, they are no longer eligible for IDA financial support. For example, of the BRIC countries, China was no longer eligible in 1999 and by 2014, neither
2537-569: The early 1990s, European nations established the European Bank of Reconstruction and Development (EBRD) and expanded European Investment Bank , to foster European integration and to assist post‐communist countries to transform their economies to become more market‐oriented. By 2012, according to The Post , IBRD was using "its AAA credit rating to sell bonds at interest rates close to those of U.S. Treasury bonds." It loaned money to developing nations, such as China and Brazil. According to
2596-771: The famous documentary The Sorrow and the Pity . During the latter years of the war, Mendès France served in the Free French Air Forces and flew in a dozen bombing raids. After the Liberation of Paris in August 1944, he was appointed Minister for National Economy in the French provisional government by de Gaulle. He later headed the French delegation to the 1944 United Nations Monetary and Financial Conference at Bretton Woods . Mendès France soon fell out with
2655-538: The government are appointed by the president "on the recommendation of the prime minister". In practice, the prime minister acts in harmony with the president, except when there is a cohabitation . During cohabitation, according to the Constitutional Council, "the center of gravity of power shifts from the Elysée to Matignon", with the president losing his status as head of the executive. In such cases,
2714-667: The government of Léon Blum appointed him Under Secretary of State for Finance. After the surrender of France to Nazi Germany in World War II , he fled to French North Africa with other army and air force units, but was arrested by the Vichy government authorities and imprisoned for desertion. He escaped and succeeded in reaching Britain, where he joined the Free French forces led by Charles de Gaulle . Mendès France later described his trial, conviction and subsequent escape in
2773-529: The government still has support in the house, some bills that might prove too controversial to pass through the normal assembly rules are able to be passed this way. The prime minister may also submit a bill that has not been yet signed into law to the Constitutional Council (article 61). Before dissolving the assembly, the president must consult the prime minister and the presidents of both houses of Parliament (article 12). The prime minister
2832-720: The mounting crisis in Algeria brought about a breakdown in the Fourth Republic system and the creation of a Fifth Republic . He led the Union of Democratic Forces , an anti- Gaullist group, but in the November 1958 elections he lost his seat in the Assembly. After being expelled from the Radical Party, whose majority faction supported de Gaulle, in late 1959 he joined the Autonomous Socialist Party (PSA),
2891-703: The nationalist leader in Tunisia , for the independence of that colony by 1956, and began discussions with the nationalist leaders in Morocco for a French withdrawal. He also favoured concessions to the nationalists in Algeria ; but the presence of a million Pied-noirs there left the colonial power no easy way to extricate itself from that situation. The future mercenary Bob Denard was convicted in 1954 and sentenced to fourteen months in prison for an assassination attempt against Mendès France. Mendès France hoped that
2950-412: The niece of Salvator Cicurel . In 1932, Mendès France was elected member of the Chamber of Deputies for the Eure department; he was the Assembly's youngest member. In 1936 he came within 700 votes of losing to Modeste Legouez , the president of the radical agrarian group the Comités de défense paysanne in what he said was his hardest electoral fight. His ability was soon recognized, and in 1938
3009-420: The post-World War II era." By October 2015, although the WBG—with its lending arms—was the only "global institution, there were more than twenty operational 20 MDBs in the world. In 2016, the Asian Infrastructure Investment Bank and BRICs New Development Bank began operations. Like other multilateral development banks, (MDBs), the IBRD has a preferred credit treatment (PCT), through which borrowers grant
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#17327757677563068-429: The president's choice of prime minister must be in accordance with the majority in the National Assembly, a prime minister does not have to ask for a vote of confidence after a government formation, having been legitimized by the president's assignment and approval of the government. Prior to the 1958 Constitution, the government was required to pass a motion of confidence upon entering office. According to article 21 of
3127-456: The prime minister is entitled to preside. Ministers defend the programmes of their ministries to the prime minister, who makes budgetary choices. The extent to which those decisions lie with the prime minister or president often depends upon whether they are of the same political party. If so, the president may serve as both the head of state and de facto head of government, while the prime minister serves as his deputy. The current prime minister
3186-425: The prime minister is only responsible to the parliament. One example of cohabitation includes President François Mitterrand 's appointment of Jacques Chirac as prime minister after the legislative election of 1986 . While Mitterrand's Socialist Party was the largest party in the National Assembly, it did not have an absolute majority. The RPR had an alliance with the Union for French Democracy , which gave them
3245-461: The prime minister traditionally exercises primacy in domestic affairs, while the president limits their action to defense and, to a lesser degree, to foreign affairs. The prime minister can "engage the responsibility" of the government before the National Assembly. This process consists of placing a bill before the assembly, and either the assembly overthrows the government, or the bill is passed automatically (article 49). In addition to ensuring that
3304-407: The prime minister, can be dismissed by the National Assembly . Upon appointment, the prime minister proposes a list of ministers to the president. Decrees and decisions signed by the prime minister, like almost all executive decisions, are subject to the oversight of the administrative court system. Some decrees are taken after advice from the Council of State (French: Conseil d'État ), over which
3363-404: Was India. The IBRD is governed by the World Bank's Board of Governors which meets annually and consists of one governor per member country (most often the country's finance minister or treasury secretary). The Board of Governors delegates most of its authority over daily matters such as lending and operations to the board of directors. The Board of Directors consists of 25 executive directors and
3422-404: Was ending the Indochina War , which had already cost 92,000 lives, with 114,000 wounded and 28,000 captured on the French side. Public opinion polls showed that, in February 1954, only 7% of the French people wanted to continue the fight to regain Indochina out of the hands of the Communists, led by Ho Chi Minh and his Viet Minh movement. At the 1954 Geneva Conference , Mendès France negotiated
3481-401: Was toppled over opposition objections to President Charles de Gaulle 's effort to have the president popularly elected. At the ensuing 1962 French legislative election , de Gaulle's coalition won an increased majority, and Pompidou was reappointed prime minister. International Bank for Reconstruction and Development The International Bank for Reconstruction and Development ( IBRD )
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