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In 2015, the World Bank declared that the "developing/developed world categorization" had become less relevant and that they will phase out the use of that descriptor. Instead, their reports will present data aggregations for regions and income groups. [5] [7] The term "Global South" is used by some as an alternative term to developing countries.
The GCC countries, for example, are classified as developing high-income countries. Thus, a high-income country may be classified as either developed or developing. [2] Although Vatican City is a sovereign state, it is not classified by the World Bank under this definition. A map of World Bank high-income economies, as of 2023.
This is an accepted version of this page This is the latest accepted revision, reviewed on 16 December 2024. Country with a developed economy and infrastructure "Industrial nation" redirects here. For the magazine, see Industrialnation. Not to be confused with Developing country. For the investing classification, see Developed market. Developed countries (IMF) Developing countries (IMF) Least ...
Robert B. Zoellick, the former president of the World Bank, said when the loans were announced on 15 December 2007, that IDA money "is the core funding that the poorest developing countries rely on". [60] World Bank organizes the Development Marketplace Awards, a grant program that surfaces and funds development projects with potential for ...
World Development Indicators have improved relative to the year 1990. 75% of poverty reduction shown happened in China. [1] International development or global development is a broad concept denoting the idea that societies and countries have differing levels of economic or human development on an international scale.
World Development Indicators (WDI) is the World Bank’s premier compilation of international statistics on global development.Drawing from officially recognized sources and including national, regional, and global estimates, the WDI provides access to approximately 1,600 indicators for 217 economies, with some time series extending back more than 50 years.
The World Bank Group finances economic development projects in poor, often unstable countries in pursuit of a lofty ambition: ending global poverty. Borrowers that accept a loan from the World Bank, which lends to governments, or the IFC, which lends to companies, must follow detailed rules for protecting people and the environment, under an ...
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 ...