International Bank For Reconstruction And Development

International Bank for Reconstruction and Development Outline

The IBRD was established pursuant to the Bretton Woods Agreement of 1944. Its headquarters are in Washington, DC. As its name suggests, it is an intergovernmental (as opposed to a non-governmental or unofficial) financial institution for providing financial assistance for the reconstruction and development of the member countries. Its membership is open to the IMF countries only. The bank has a special interest in the development projects of less-developed countries. It makes loans to these countries and may, if necessary, act as guarantor for private investments in them. The bank also provides technical assistance or advice to less-developed countries in the field of investment projects. As a financial institution, the bank may with the consent of the country concerned sell or purchase the securities or bonds issued or guaranteed by it. The bank may also invest money in certain investment projects pursuant to its constitution.
The IBRD is also known as the World Bank. It has two affiliates: the International Finance Corporation (IFC) and the International Development Association (IDA).
The IBRD has a close connection with the International Centre for the Settlement of Investment Disputes (ICSID), which is an important international agency dealing with foreign investment disputes between a government member and a national of another member of the Convention on the Settlement of Investment Disputes between States and Nationals of Other States. The Convention was drafted by the bank and came into force in 1966. The ICSID is an autonomous body, but financed and supported by the bank.(1)

International Bank For Reconstruction and Development (IBRD) in International Trade

Meaning of International Bank For Reconstruction and Development (ibrd), according to the Dictionary of International Trade (Global Negotiator): IRBD is a financial institution that belongs to the World Bank Group and provides low-cost developmental loans for reasonably creditworthy sovereign buyers by issuing bonds backed by its own triple-A rating.