World Bank

▫️Founded at the Bretton Woods conference in 1944, the International Bank for Reconstruction and Development—soon called the World Bank—has expanded to a closely associated group of five development institutions.

▫️International Bank for Reconstruction and Development (IBRD) provides loans, credits, and grants.

▫️International Development Association (IDA) provides low- or no-interest loans to low-income countries.

▫️The International Finance Corporation (IFC) provides investment, advice, and asset management services to companies and governments.

▫️The Multilateral Investment Guarantee Agency (MIGA) insures lenders and investors against political risk such as war.

▫️The International Centre for the Settlement of Investment Disputes (ICSID) settles investment-disputes between investors and countries.

India is not a member of ICSID.

▫️Recently, the World Bank has released new Purchasing Power Parities (PPPs) for reference year 2017, under International Comparison Program (ICP) that adjusts for differences in the cost of living across economies of the world.

▫️It has also developed the Logistics Performance Index.

◾️Reports Published by World Bank:

•Human Capital Index Report

•Global Economic Prospects

•Ease of Doing Business

•South Asia Economic Focus Report

•Poverty and Shared Prosperity Report

•World Development Report

◾️Projects Supported by the World Bank:

•National Hydrology Project

•Strengthening Teaching-Learning and Results for States (STARS) Project

•National Nutrition Mission

•National Mission for Clean Ganga

•National Biopharma Mission

•Atal Bhujal Yojana.