World Bank: Difference between revisions
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The Bank’s five branches are: | The Bank’s five branches are: | ||
==International Bank for Reconstruction and Development | ==International Bank for Reconstruction and Development== | ||
The IBRD publishes the ''World Development Report for Reconstruction and Development'', ranking countries by income and other economic factors. It also provides loans to middle-income countries | The IBRD publishes the ''World Development Report for Reconstruction and Development'', ranking countries by income and other economic factors. It also provides loans to middle-income countries | ||
Revision as of 07:49, 9 August 2009
The World Bank [1] was set up in 1944 at the Bretton Woods Conference. Its purpose is to reduce global poverty and improve living standards by providing low-interest loans, interest-free credit and grants to developing countries. It raises most of its funds by issuing bonds on the world's financial markets - and the remainder from members' contributions.
The Bank’s five branches are:
International Bank for Reconstruction and Development
The IBRD publishes the World Development Report for Reconstruction and Development, ranking countries by income and other economic factors. It also provides loans to middle-income countries
International Development Association
The IDA gives interest-free loans to the poorest countries.
International Finance Corporation
IFC finances private-sector projects and provides technical support.
Multilateral Investment Guarantee Agency
The MIGA guarantees foreign investors against non-commercial risks.
International Center for the Settlement of Investment Disputes
This branch seeks to settle disputes between foreign investors and host countries.
World Bank representatives serve on the international Financial Stability Forum