World Bank Group

The World Bank was also established in 1944 at Bretton Woods and started functioning in 1946.

  • It is headquartered in Washington, D.C., USA.
  • It consists of five institutions, mainly:
    • IBRD (International Bank for Reconstruction and Development): Offers loans, guarantees, and advisory services to creditworthy low- and middle-income countries.
    • IDA (International Development Association): Provides interest-free loans ("credits") and grants to the world's poorest countries to boost economic growth and reduce poverty.
    • IFC (International Finance Corporation): Focuses on the private sector, investing in for-profit projects and providing advisory services to foster sustainable growth.
    • MIGA (Multilateral Investment Guarantee Agency): Promotes foreign direct investment in developing countries by offering ....
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