The International Bank for Reconstruction and Development (IBRD) is an international financial institution that provides loans and grants to the governments of middle-income and low-income countries for the purpose of promoting economic development and reducing poverty. It was established in 1944 and is a part of the World Bank Group. The IBRD focuses on financing projects in areas such as infrastructure development, education, healthcare, and agriculture. It also provides technical assistance and policy advice to its member countries. The IBRD raises funds through borrowing in international financial markets and then lends these funds to its member countries at favorable interest rates. Its goal is to support sustainable development and help countries achieve their development objectives.
The IBRD is a specialized agency of the United Nations that provides financial and technical assistance to developing countries for economic development and poverty reduction.
The IBRD is owned by its member countries, which currently number 189.
The IBRD provides loans, guarantees, and advisory services to its member countries for a variety of development projects, including infrastructure, education, health, and environmental sustainability.
A country must first become a member of the United Nations and then apply for membership in the IBRD. Membership is subject to approval by the IBRD’s Board of Governors.
The IBRD plays a key role in promoting economic growth and reducing poverty in developing countries by providing financing and technical assistance for development projects.
The IBRD has strict policies and procedures in place to ensure that its loans are used effectively and that the projects they finance are sustainable and have a positive impact on the local population.
The IBRD works closely with other international organisations, including the International Monetary Fund (IMF) and the World Trade Organization (WTO), to promote economic development and reduce poverty.
The IBRD has a strong commitment to environmental sustainability and works to ensure that its development projects are environmentally sound and promote sustainable development.
The IBRD has a strong commitment to social development and works to ensure that its development projects promote social inclusion and address issues such as gender equality and human rights.
The IBRD uses a variety of methods to measure the impact of its development projects, including monitoring and evaluation, impact assessments, and feedback from local communities and stakeholders.
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This glossary post was last updated: 13th April 2024.
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