International Bank for Reconstruction and Development (World bank) | IAS Target

International Bank for Reconstruction and Development (World bank)

IAS Target

International Bank for Reconstruction and development (World bank)

The International Bank for Reconstruction and Development (IBRD) is an international financial institution that provides loans to middle-income developing countries. The IBRD is the first of five member institutions that compose the World Bank Group. It was founded in 1944. The IBRD and its concessional lending arm, the International Development Association, are collectively known as the World Bank as they share the same leadership and staff. The Bank offers a number of financial services and products, including grants, financial derivatives, risk guarantees, catastrophic risk financing and flexible loans.

Member states 189 member countries
Headquartered Washington, D.C.(United States)
Reports
  • Ease of doing business
  • World development report

Mission

  • IBRD mission of financing the reconstruction of European nations devastated by World War II.
  • The Bank's mandate expanded to advancing worldwide economic development and eradicating poverty.
  • They work closely with all institutions of the World Bank Group and the public and private sectors in developing countries to build shared prosperity and reduce poverty.
  • IBRD succors the World Bank Groupís mission by providing loans, guarantees, risk management products, and advisory services to middle-income and creditworthy low-income countries
  • The IBRD provides commercial-grade or concessional financing to sovereign states to fund projects that seek to improve transportation and infrastructure, domestic policy, education, environmental consciousness, healthcare, energy investments, access to food and potable water, and access to improved sanitation.
  • Created in 1944 to support Europe rebuild after World War II, IBRD joins with IDA, our fund for the poorest countries, to form the World Bank

Governance

The IBRD is governed by the World Bank's Board of Governors which meets annually and consists of one governor per member country (most often the country's finance minister or treasury secretary). The Board of Directors consists of 25 executive directors and is chaired by the President of the World Bank Group. The executive directors collectively represent all 189 member states of the World Bank.

Source of funding

The Bank's member governments are shareholders which contribute paid-in capital IBRD acquires most of its capital by borrowing on international capital markets through bond issues.