World Bank

  • World Bank is one of five institutions created at Breton Woods Conference in 1944.
  • The World Bank is an international financial institution that provides loans to developing countries for capital programs.
  • It comprises of five institutions:
    • International Bank for Reconstruction and Development (IBRD) : provides loans, credits and grants
    • International Development Association (IDA) : provides low- or no-interest loans to low-income countries.
    • International Finance Corporation (IFC) : provides investment, advice, and asset management services to companies and governments.
    • Multilateral Investment Guarantee Agency (MIGA) : insures lenders and investors against political risk such as war.
    • International Centre for Settlement of Investment Disputes (ICSID) : settles investment-disputes between investors and countries.
  • India is not a member of ICSID.
  • Formation: July 1944.
  • Headquarters: Washington DC, United States.
  • Motto: Working for a World Free of Poverty.
  • World Bank has released new Purchasing Power Parities (PPPs) for reference year 2017, under International Comparison Program (ICP) that adjusts for differences in the cost of living across economies of the world.
  • It has also developed the Logistics Performance Index.
  • Reports Published by World Bank:
    • Human Capital Index Report
    • Global Economic Prospects
    • Ease of Doing Business
    • South Asia Economic Focus Report
    • Poverty and Shared Prosperity Report
    • World Development Report

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