The World Bank, also known as the International Bank for Reconstruction and Development, was established in 1945 with the goal of assisting countries in economic development. It offers loans for financially beneficial and sustainable projects, funded by member countries and loans from the open market.
Established in 1945, the International Bank for Reconstruction and Development, also known as the World Bank, is a specialized agency of the United Nations. Its primary objective is to offer loans for economically sustainable projects that aid in the economic development of countries. The World Bank’s capital is derived from member states of the United Nations and loans on the open market, enabling it to provide financial assistance to countries that lack access to traditional funding sources. For instance, the World Bank may grant a loan to a developing country to construct infrastructure such as roads or bridges, which can stimulate economic growth by facilitating the transportation of goods and services. Overall, the International Bank for Reconstruction and Development plays a crucial role in promoting economic development and reducing poverty worldwide.
The IBRD is a global development cooperative owned by 189 member countries. It provides financial and technical assistance to developing countries for development projects.
The IBRD focuses on long-term development projects, while the IMF provides short-term financial assistance to countries facing balance of payments problems.
A country becomes a member of the IBRD by subscribing to its shares of capital stock.
The IBRD finances a wide range of projects, including infrastructure development, education, healthcare, and environmental sustainability.
The IBRD raises funds by issuing bonds in the international capital markets.
Countries must meet certain income and creditworthiness criteria to be eligible for financing from the IBRD.
The IBRD has strict policies and procedures in place to ensure that its funds are used for their intended purposes and that projects are implemented effectively.
The IBRD promotes sustainable development by financing projects that have a positive impact on the environment and by providing technical assistance to help countries implement sustainable development practices.
Yes, the IBRD provides financing to private sector entities for projects that have a positive impact on development.
The IBRD conducts regular evaluations of its projects to measure their impact and effectiveness.
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This glossary post was last updated: 17th April 2024.
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