Capital of the Work Bank :
At the time of establishment, the authorized capital of the Bank was $1,000 crore divided into 1,00,000 shares of $1,00,000 each. Every member-country had to pay 20 per cent of his quota at the time of membership. Of it, 2 per cent is in gold and remaining 18 per cent in its own currency. The balance 80 per cent of the capital subscription can be called by the Bank as and when required. The capital of the Word Bank has been increased from time to time with the concurrence of the member-countries. In the share of the capital of the Bank, America has the first, Japan the second and India the eighth place. In the year, 2000, the capital of the Bank has been further increased to $18,860 crore. The authorized capital of the Bank is $ 19,081 crore.
The member countries contribute their share capital to the Bank as follows:
- 2% of the share in the form of the gold and US dollars. The World Bank utilizes this amount freely for granting loans.
- 18 % of the share capital in the form of own currency. The amount is also used by
Bank for granting loans.
(iii) 80% of the share capital is payable at the request of the Bank. This amount is not used by
Bank for granting loans. But it can use this amount in discharging its responsibilities.