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World Bank Group Timeline

May 18, 1949

President McCloy resigns

President McCloy resigns less than two years into his five-year term as World Bank president in order to become the United States High Commissioner for Germany. While his time at the Bank was short, McCloy oversaw a number of important milestones for the organization: its first loan, its first bond offering, and consolidation of decision-making power by the Bank’s senior management.

Resource Gallery

Interview with Ansel F. Luxford

Interview date: July 13, 1961
Recollections about the early days of President McCloy's presidency are on pages 52-58.

President McCloy visits Central America

November or December 1948
President McCloy enjoys the festivities during a trip to Central America (1893774; Credit: The World Bank).

Statement by President McCloy before the U.S. House Committee on Banking and Currency

May 23, 1948
President McCloy's statement to the U.S. House Committee on Banking and Currency is made five days after his resignation from the World Bank is announced (30254687).

Correspondence from John McCloy to Blanche Moore

May 27, 1983
In a letter from the then former World Bank president to Robert McNamara's secretary, Blanche Moore, McCloy reflects on his time at the Bank and on his predecessor, Eugene Meyer (1780059).

President John J. McCloy

2nd World Bank President: 1947-1949