THE WORLD BANK
The World Bank, also known as the International Bank for Reconstruction andDevelopment has been assisting developing nations since its creation out of BrettonWoods agreement in 1944.The World Bank Group is made up of five organizations:
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The International Bank for Reconstruction and Development (IBRD).
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The International Development Association (IDA).
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The International Finance Corporation (IFC).
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The Multilateral Investment Guarantee Agency (MIGA).
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The International Centre for the Settlement of Investment Disputes (ICSID).
Headquarters:
Washington, DC and more than 100 offices around the world
Established:
July 1, 1944 by a conference of 44 governments in Bretton Woods, NewHampshire, USA
Membership
: 184 countries.
THE WORLD BANK GROUP
Today’s world is both very rich and very poor. Around 2.8 billion people more than half the people in developing countries live on less than US$2 a day. Of these, 1.2 billion people earn less than US$1 day. The challenge of reducing these levels of poverty, whilethe world’s population continues to grow by an estimated 3 billion people over the next50 years, is enormous.They work to reduce poverty worldwide by:
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Promoting growth to create employment opportunities; and
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