Multilateral Institutions Division
The World Bank Group
The World Bank is among the world's leading development institutions with a mission to fight poverty and improve living standards for people in the developing world by promoting sustainable development through loans, guarantees, risk management products, and (non-lending) analytic and advisory services. The World Bank is one of the United Nations' specialized agencies. The member countries are jointly responsible for how the institution is financed and how its money is spent. The World Bank concentrates its efforts on reaching the Millennium Development Goals aimed at sustainable poverty reduction.
The World Bank Group consists of:
- The International Bank of Reconstruction and Development (IBRD)
- The International Development Association (IDA)
- International Finance Corporation (IFC)
- Multilateral Investment Guarantee Agency (MIGA)
- International Centre for Settlement of Investment Disputes (ICSID)
The World Bank Group has four Boards of Executive Directors representing the four institutions of the World Bank Group: International Bank for Reconstruction and Development (IBRD), International Development Agency (IDA), International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA). Executive Directors serving on these Boards are usually the same.
The Boards of Executive Directors are responsible for the conduct of the general operations of the World Bank Group and exercise all the powers delegated to them by the Board of Governors under the Articles of Agreement.
The Boards are composed of 24 Executive Directors, who are appointed or elected by member countries or by groups of countries, and the President, who serves as its Chairman.
Important Publications of World Bank
- World Development Reports
- Global Development Finance Reports
- Global Monitoring Reports
- Global Economic Prospects
- Doing Business Reports
- Governance Reports
For more World Bank Data & research go to http://go.worldbank.org/45B5H20NV0
For more World Bank publications go to http://www.worldbank.org/reference/
The International Bank for Reconstruction and Development (IBRD) was established in 1945 and has 188 members at present. IBRD aims to reduce poverty in middle-income countries and creditworthy poorer countries by promoting sustainable development, through loans, guarantees, and non-lending services, which include analytical and advisory services. The IBRD is owned by the member countries whose voting power is linked to its capital subscription based on the country's relative economic strength.
The International Development Association (IDA) was established in 1960 and currently has 172 members. IDA is the concessional arm of the World Bank and plays a key role in supporting the Bank's poverty reduction mission. IDA assistance is focused on the world's 79 poorest countries, to which it provides interest-free loans (known as 'credits') and other non-lending services.