WB

THE WORLD BANK
The World Bank is an international financial institution that provides loans to developing
countries for capital programs. The World Bank's official goal is the reduction of poverty. The
World Bank differs from the World Bank Group, in that the World Bank comprises only two
institutions: the International Bank for Reconstruction and Development (IBRD) and the
International Development Association (IDA), whereas the latter incorporates these two in
addition to three more: International Finance Corporation (IFC), Multilateral Investment
Guarantee Agency (MIGA), and International Centre for Settlement of Investment Disputes
(ICSID).
INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT
(IBRD)
Founded in 1944 to help Europe recover from World War II, the International Bank for
Reconstruction and Development (IBRD) is one of five institutions that make up the World
Bank Group. IBRD is the part of the World Bank (IBRD/IDA) that works with middle-income and
creditworthy poorer countries to promote sustainable, equitable and job-creating growth,
reduce poverty and address issues of regional and global importance.
Structured something like a cooperative, IBRD is owned and operated for the benefit of its
187 member countries. Delivering flexible, timely and tailored financial products, knowledge
and technical services, and strategic advice helps its members achieve results. Through the
World Bank Treasury, IBRD clients also have access to capital on favorable terms in larger
volumes, with longer maturities, and in a more sustainable manner than world financial
markets typically provide.
Specifically, the IBRD:
 supports long-term human and social development needs that private creditors do not
finance;
 preserves borrowers' financial strength by providing support in crisis periods, which is
when poor people are most adversely affected;
 uses the leverage of financing to promote key policy and institutional reforms (such as
safety net or anticorruption reforms);
 creates a favorable investment climate in order to catalyze the provision of private
capital;
 Provides financial support (in the form of grants made available from the IBRD's net
income) in areas that are critical to the well-being of poor people in all countries