Marcos Fact Checks

FACT CHECK: World Bank doesn’t have Marcos gold deposits

Rappler.com
FACT CHECK: World Bank doesn’t have Marcos gold deposits
The World Bank Group works with countries or governments rather than individual persons

Claim: The Marcos family has gold deposits in the World Bank.

Rating: FALSE

Why we fact-checked this: The YouTube video containing the claim has over 2,100 reactions, 208 comments, and 21,000 views as of writing.

Not an ordinary bank: The World Bank said in an explainer that it is not a regular commercial bank.

On its website, the World Bank Group said that it works with countries or governments rather than individual persons. 

There are two institutions under the World Bank Group that make up the World Bank – the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).

The IBRD lends to governments of middle-income and low-income countries while the IDA provides interest-free loans and grants to governments of the poorest countries. – Lorenz Pasion/Rappler.com

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