The World Bank officially opened for business on June 25, 1946. As with many new organizations there were initial difficulties. The first President, Eugene Meyer, resigned abruptly in December 1946, without a clear successor. The Bank’s Vice President, Harold Smith, died suddenly on January 23, 1947. Although a few applications had been received, the Bank had thus far made no loans. However, the election on February 23, 1947, or John J. McCloy as...
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The World Bank’s First Loan - May 9, 1947 (English). World Bank Group Archives exhibit series|no. 001 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/434131467990972593