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The initial mission of the IBRD in 1944, was to finance the reconstruction of European nations devastated by World War II. The IBRD and its concessional lending arm, the International Development Association (IDA), are collectively known as the World Bank as they share the same leadership and staff. [1] [2] [3]
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 International Development Association (IDA) (French: Association internationale de développement) is a development finance institution which offers concessional loans and grants to the world's poorest developing countries. The IDA is a member of the World Bank Group and is headquartered in Washington, D.C. in the United States.
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.
The World Bank Director-General Evaluation (DGE) oversees the work of three units of the Independent Evaluation Group (IEG): IEG-World Bank evaluates IBRD and IDA support to countries' overall development; IEG-IFC evaluates Bank Group activities that focus on contributions to private sector development and on strengthening the business climate; and IEG-MIGA evaluates the impact of Bank Group ...
The World Bank is an institution that was established in 1944 and since 1958 has provided Nigeria with low interest rate loans and grants through the International Development Association(IDA) and International Bank for Reconstruction and Development (IBRD). [1] As of 2018, it consists of 189 member countries.
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
The Inspection Panel's mandate allows it to investigate projects funded by the IDA and IBRD, both part of the World Bank Group, and to determine whether they are complying with their policies and procedures in the design, appraisal, and implementation of a project. These policies and procedures are not limited to the Bank's social and ...