France received the World Bank’s first loan, approved in 1947.
The International Bank for Reconstruction and Development (IBRD), commonly associated with the World Bank, approved a $250 million loan to France on 9 May 1947. The money supported postwar reconstruction after the extensive economic and physical damage caused by World War II.
The loan was part of the IBRD’s original mission: helping rebuild economies and infrastructure while encouraging international economic cooperation. France was one of the first countries to seek this kind of reconstruction finance through the newly created Bretton Woods institutions.
This fact is sometimes confused with the Marshall Plan, the large United States aid program launched in 1948. The World Bank loan and Marshall Plan assistance were separate programs, although both contributed to Europe’s recovery. The IBRD later shifted much of its focus toward financing development projects in lower- and middle-income countries.