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The World Bank Group is a specialized United Nations agency dedicated to improving living standards in developing countries through facilitation and financing development and investment. There are five organizations within the Group:
- International Bank for Reconstruction and Development (IBRD) provides low-cost developmental loans for reasonably creditworthy sovereign buyers by issuing bonds backed by its own triple-A rating.
- International Development Association (IDA) provides low cost development loans for less-developed nations from funds donated by nearly 40 countries.
- Multilateral Investment Guarantee Agency (MIGA) provides political risk coinsurance and reinsurance for investment in client-developing countries.
- International Finance Corporation (IFC) finances and advises for private-sector ventures and projects in developing countries.
- International Centre for Settlement of Investment Disputes (ICSID) provides facilities for conciliation and arbitration of disputes.
Over 180 countries are members of the World Bank Group. See also International Monetary Fund. Website.
