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The International Bank for Reconstruction and Development (IBRD) is an international financial institution, established in 1944 and headquartered in Washington, D.C., United States; it is the lending arm of World Bank Group. The IBRD offers loans to middle-income developing countries. It is the first of five member institutions that compose the ...
The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA), two of five international organizations owned by the World Bank Group. It was established along with the International Monetary Fund at the 1944 Bretton Woods Conference. After a slow start ...
The Bretton Woods Conference led to the establishment of the IMF and the IBRD (now the World Bank), which remain powerful forces in the world economy as of the 2020s. A major point of common ground at the Conference was the goal to avoid a recurrence of the closed markets and economic warfare that had characterized the 1930s.
The term "World Bank" generally refers to just the IBRD and IDA, whereas the term "World Bank Group" or "WBG" is used to refer to all five institutions collectively. [17] The World Bank Institute is the capacity development branch of the World Bank, providing learning and other capacity-building programs to member countries.
Nordic Investment Bank (NIB) New Development Bank (NDB) Organization for Economic and Co-operation Development (OECD) OPEC Fund for International Development (OPEC Fund) Organization of Petroleum-Exporting Countries (OPEC) West African Development Bank (BOAD) World Bank Group. International Bank for Reconstruction and Development (IBRD)
International Bank for Reconstruction and Development, one of the two lending arms traditionally considered to be the World Bank. Typically lends to middle-income governments, also some creditworthy low-income countries. Founded in 1944. FY 2014 commitments $18.6 billion. Lends at market rate. Guarantees loans
The loans given were given through the child organization of the World Bank; the International Bank for Reconstruction and Development (IBRD). The IBRD is "a global development cooperative owned by 189 member countries" that was developed after the end of World War II to rebuild Europe and now helps reduce poverty in needing countries. [3]
France has been a member of the International Bank for Reconstruction and Development (IBRD) since December 27, 1945. [1] A key milestone occurred when France received the first IBRD loan on May 9, 1947, receiving $250 million to rebuild its infrastructure ravaged by the Second World War.