The World Bank

The World Bank is a vital source of financial and technical assistance to developing countries around the world. Their mission is to fight poverty with passion and professionalism for lasting results and to help people help themselves and their environment by providing resources, sharing knowledge, building capacity and forging partnerships in the public and private sectors.

Established in 1944, the World Bank Group is headquartered in Washington, D.C. They have more than 10,000 employees in more than 120 offices worldwide.

The World Bank Group consists of five organizations:

The International Bank for Reconstruction and Development

The International Bank for Reconstruction and Development (IBRD) lends to governments of middle-income and creditworthy low-income countries. .

The International Development Association

The International Development Association (IDA) provides interest-free loans — called credits — and grants to governments of the poorest countries. 

Together, IBRD and IDA make up the World Bank.

The International Finance Corporation

The International Finance Corporation (IFC) is the largest global development institution focused exclusively on the private sector. They help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments.

The Multilateral Investment Guarantee Agency

The Multilateral Investment Guarantee Agency (MIGA) was created in 1988 to promote foreign direct investment into developing countries to support economic growth, reduce poverty, and improve people’s lives. MIGA fulfills this mandate by offering political risk insurance (guarantees) to investors and lenders.

The International Centre for Settlement of Investment Disputes

The International Centre for Settlement of Investment Disputes (ICSID) provides international facilities for conciliation and arbitration of investment disputes.