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History of the WEF

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The World Economic Forum was founded in January 1971 in Davos, Switzerland, as a not-for-profit Foundation. The headquarters’ is in Geneva.

It is independent, impartial and not tied to any special interests, working in close cooperation with all major international organisations.

It also strives in all its efforts to demonstrate entrepreneurship in the global public interest while upholding the highest standards of governance.

German-born Klaus Schwab, then a Professor of Business Policy at the University of Geneva, chaired the first meeting. He is the founder and executive chairman of the Forum.

The Forum was initially called the European Management Forum until 1987, when it was renamed the World Economic Forum to reflect its expanding scope and transformation from a European to truly global organization.

From the beginning, the Forum had considerable impact in improving political, economic and social awareness.

It has provided a critical platform for furthering peace and reconciliation in many parts of the world – promoting understanding between East and West before and after the fall of the Berlin Wall, introducing emerging economies such as China and India to the international community, and bringing to the fore the latest trends and developments in many fields.
The Forum has also been the catalyst for a number of significant global initiatives, such as the Global Compact (developed jointly with the UN); the GAVI Alliance (initially the Global Alliance for Vaccines and Immunization); the Global Fund to Fight AIDS, Tuberculosis and Malaria; the expansion of the OECD; and the development of the G20 concept.

Click below for an interactive timeline that captures key events on the Forum’s more than 40 years history, from the WEF official website.

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