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The World Bank is an international financial institution that provides loans and grants to the governments of low-and middle-income countries for the purposes of ...
The World Bank Institute is the capacity development branch of the World Bank, providing learning and other capacity-building programs to member countries. The IBRD has 189 member governments, and the other institutions have between 153 and 184. [2] The institutions of the World Bank Group are all run by a board of governors meeting once a year ...
The World Bank Group is the globe's most prestigious development lender, bankrolling hundreds of government projects each year in pursuit of its high-minded mission: to combat the scourge of poverty by backing new transit systems, power plants, dams and other projects it believes will help boost the fortunes of poor people.
The development of the World Bank, the IMF, regional development banks such as the European Bank for Reconstruction and Development (EBRD), and multilateral trade institutions such as the WTO signals a move away from the dominance of the state as the primary actor analysed in international affairs.
According to The Economist basing on data from the World Bank, from 1960 to 2022, only 23 economies have been said to have escaped the middle income trap, most notably the Four Asian Tigers of Hong Kong, Singapore, South Korea, [11] and Taiwan, Seychelles in Africa, Poland in Central Europe, as well as Saudi Arabia in the Middle East. [12] [13]
The World Bank has regularly failed to live up to its own policies for protecting people harmed by projects it finances. The World Bank and its private-sector lending arm, the International Finance Corp., have financed governments and companies accused of human rights violations such as rape, murder and torture.
WASHINGTON (Reuters) -The World Bank said on Wednesday its executive board approved $2.05 billion in Development Policy Operation funding for Ukraine that includes the first grant from a new $20 ...
The IDA is a unique part of the World Bank as it requires continuous replenishment of its resources. Member countries replenish its funds through contributions in addition to supplementary funds provided by the International Bank for Reconstruction and Development and the International Finance Corporation (IFC).