World Bank
World Bank and the World Bank Group
Further Reading
- A concise encyclopedia of the United Nations (including World Bank , H Volger, KA Annan -2010)
- The Oxford Handbook on the United Nations (TG Weiss – 2007)
- International Law: A Dictionary (including World Bank , Boczek, Boleslaw Adam -2005)
World Bank in relation with International Trade
In the context of trade organizations, Christopher Mark (1993) provided the following definition of World Bank: The International Bank for Reconstruction and Development (IBRD), commonly referred to as the World Bank, is an intergovernmental financial institution headquartered in Washington, D.C. Established in 1945 as part of the Bretton Woods system (Sec. I), its primary function is to make long-term, low-interest loans to developing countries.
World Bank (wb) (in the Human Development Area)
In this context, World Bank (wb) means:
also known as International Bank for Reconstruction an Development. Along with the IMF, was agreed upon by the representatives of 44 countries at theUnited Nations Monetary and Financial Conference at Bretton Woods in 1944. The purpose of the bank is to encourage capital investment for reconstruction and development of its member countries, either by channeling the necessary private funds or by making loans from its own resources.
World Bank
The World Bank, created at the same time as the International Monetary Fund at the Bretton Woods Conference in 1944, is an international financial institution with the mission of aiding developing countries and their inhabitants to achieve development and reduce poverty by providing leveraged loans to developing countries for capital programs. The World Bank currently focuses on the achievement of the ‘Millennium Development Goals (MDGs)’
The World Bank comprises two institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). Its parent organization, the World Bank Group, incorporates three more: the International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA) and International Centre for Settlement of Investment Disputes (ICSID). The International Bank for Reconstruction and Development (IBRD) has 186 member countries, while the International Development Association (IDA) has 168 members
The IBRD is a market-based non-profit organization, lending primarily to ‘middle-income’ countries at interest rates only slightly higher than it has to pay for its own borrowings from capital markets; its high credit rating makes up for the relatively low interest rate on its loans. The IDA, on the other hand, is funded primarily by periodic grants voted to the institution by its more affluent member countries; it provides low or no-interest loans and grants to low-income countries with little or no access to international credit markets.
Related Fields
Related topics include:
World Bank
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Bank Regulation
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History of Banking
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Functions of the World Bank
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World Bank
Embracing mainstream international law, this section on world bank explores the context, history and effect of the area of the law covered here.
Resources
See Also
- International Organization
- Foreign Relations
- Organization
- United Nations
- United Nations System
- UN Agency
Resources
Further Reading
- The entry “world bank” in the Parry and Grant Encyclopaedic Dictionary of International Law (currently, the Encyclopaedic Dictionary of International Law, 2009), Oxford University Press
Resources
Further Information
The World Bank – IBRD & IDA: Working for a World Free of Poverty
See Also
International Monetary Fund
Hierarchical Display of World Bank
International Organisations > United Nations > UN specialised agency
Finance > Monetary relations > Monetary relations
Finance > Financial institutions and credit > Financial institution > Bank > Development bank
Finance > Monetary relations > International finance > International monetary system
International Relations > International affairs > International affairs > Economic relations
International Relations > Cooperation policy > Cooperation policy > Financial cooperation
World Bank
Concept of World Bank
See the dictionary definition of World Bank.
Characteristics of World Bank
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Resources
Translation of World Bank
- Spanish: Banco Mundial
- French: Banque mondiale
- German: Weltbank
- Italian: Banca mondiale
- Portuguese: Banco Mundial
- Polish: Bank Światowy
Thesaurus of World Bank
International Organisations > United Nations > UN specialised agency > World Bank
Finance > Monetary relations > Monetary relations > World Bank
Finance > Financial institutions and credit > Financial institution > Bank > Development bank > Worl
d Bank
Finance > Monetary relations > International finance > International monetary system > World Bank
International Relations > International affairs > International affairs > Economic relations > World Bank
International Relations > Cooperation policy > Cooperation policy > Financial cooperation > World Bank
See also
- Monetary relations
- Development bank
- International monetary system
- Economic relations
- Financial cooperation
- Multilateral Investment Guarantee Agency
- International Centre for Settlement of Investment Disputes
- International Finance Corporation
- International Bank for Reconstruction and Development
- International Development Association
- World Bank Group
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