5 Minute Series

NET/SET COMMERCE & MANAGEMENT

Topic

WORLD BANK
GROUP

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 World Bank Group (WBG)
• World Bank Group (WBG) is a family of five international
organizations is the largest and most well-known development bank
in the world.
• The bank is based in Washington, D.C.

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 WORLD BANK GROUP
International Bank for Reconstruction and Development (IBRD), established in 1945, lends to governments of middle-
income and creditworthy low-income countries.

International Finance Corporation (IFC), established in 1956, which provides various forms of financing without sovereign
guarantees, primarily to the private sector

International Development Association (IDA), established in 1960, which provides interest-free loans — called credits —
and grants to governments of the poorest countries.

International Centre for Settlement of Investment Disputes (ICSID), established in 1965, provides international facilities
for conciliation and arbitration of investment disputes.

Multilateral Investment Guarantee Agency (MIGA), established in 1988, which provides insurance against certain types of
risk, including political risk, primarily to the private sector.

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 Practice Question
Q. Which among the following institutions make up the world bank?

1. IBRD and IDA

2. IBRD, IDA, IFC, ICSID & MIGA
3. IBRD, IFC, ICSID & MIGA
4. IFC, ICSID & MIGA

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