The World Bank Group (WBG) is one of the world’s largest sources of funding and financial knowledge around the world. With 189 member countries and offices in over 130 locations, the World Bank Group is a unique global partnership of five institutions working towards reducing poverty, increasing shared prosperity, and promoting sustainable development.
The World Bank Group Institutions:
– IBRD and IDA form the World Bank, which provides financing, policy advice, and technical assistance to governments of developing countries.
– IDA focuses on the world’s poorest countries, while IBRD assists middle-income and credit-worthy poorer countries.
– IFC, MIGA, and ICSID focus on strengthening the private sector in developing countries.
Through these institutions, the World Bank Group provides financing, technical assistance, political risk insurance, and settlement of disputes to private enterprises, including financial institutions. These institutions have their own country membership, governing boards, and articles of agreement but work together to serve partner countries with global financial resources, knowledge, and innovative solutions to the needs of developing countries.
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