Skip to main content

World Bank in brief

The World Bank is a vital source of financial and technical assistance to developing countries around the world. Its mission is to fight poverty with passion and professionalism for lasting results and to help people help themselves and their environment by providing resources, sharing knowledge, building capacity and forging partnerships in the public and private sectors.

WB is not a bank in the common sense; it is made up of two unique development institutions owned by 187 member countries: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). 

Each institution plays a different but collaborative role in advancing the vision of inclusive and sustainable globalization. The IBRD aims to reduce poverty in middle-income and creditworthy poorer countries, while IDA focuses on the world's poorest countries.

Their work is complemented by that of the International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA) and the International Centre for the Settlement of Investment Disputes (ICSID).

Together, the two institutions provide low-interest loans, interest-free credits and grants to developing countries for a wide array of purposes that include investments in education, health, public administration, infrastructure, financial and private sector development, agriculture and environmental and natural resource management. 

The World Bank, established in 1944, is headquartered in Washington, D.C. They have more than 10,000 employees in more than 100 offices worldwide.

Labels:

Comments

  1. Bank Lending CriteriaApril 4, 2012 at 7:08 PM

    The World Bank is a multilateral financial institution that provides financial and technical assistance for development in low- and middle-income countries. This brief provides an overview of the World Bank's structure, membership, governance, and lending operations.

    ReplyDelete

Post a Comment

Popular posts from this blog

Bangladesh Stock Market loses BDT 850 Billion

A total of Tk 85,000 crore have been channeled out through the Bangladesh Share Market within the last 30 working days, sources said. The General Index was 8918 points on December 5, 2010 and it labelled down at 6312 point on January 20, 2011.  The amount siphoned off during the last six month specially was very preplanned sources added. Total market capital was Tk 3,68,000 Crore (Tk 3680 Billion) on December 5, 2010 which now collapsed to Tk 2,83,000 Crore (Tk 2830 Billion) on January 20, 2011. Total Capital reduces of Tk 85,000 Crore (850 Billion), which amount is channeled out by the Market Makers in the last one month, sources said. 
1 comment
Read more

Sudan's President Omar supports for new Independent South

Sudan's President Omar Hassan al-Bashir on Tuesday pledged support for a new southern state in his first public address since the south of the country voted overwhelmingly to split from the north. Early results from this month's referendum indicate almost 99 percent of southerners voted to secede after decades of civil war which claimed 2 million lives and destabilized much of east Africa. Bashir had campaigned for unity and many feared the north would not let the oil-producing south go without a fight. "Secession has become a reality -- 99 percent of southerners chose separation but we will not be sad ... we will go to the south and celebrate with them," Bashir told supporters during a visit to the northern River Nile state. "We will support the new southern state and will hold onto its stability because we are neighbors and will remain friends," he added. While oil was a factor behind the north-south war which ended with a wealth and power-sharing agr...
Post a Comment
Read more