The World Bank
A World Free of Poverty The World Bank is one of the world’s largest sources of funding for the developing world. Its primary focus is on helping the poorest people and poorest countries, using its financial resources, its staff, and its extensive experience to help developing countries reduce poverty, increase economic growth, and improve the quality of life.
World Bank/IMF Annual Meetings. Ted Van Hess (right) of the One Campaign speaks to Dutch Ministers about the Poverty Requiem. (Photo: Š Simone D. McCourtie / World Bank)
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he World Bank is a vital source of financial and technical assistance to developing countries. Not a bank in the common sense, it consists of two unique development institutions owned by 185 member countries -- the International Bank for Reconstruction and Development (IBRD), and the International Development Association (IDA). It concentrates on building the climate for investment, jobs and sustainable growth, so that economies will grow; and, by investing in, and empowering poor people to participate in development.
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Each institution plays a different but collaborative role to advance the vision of an inclusive and sustainable globalization. The IBRD focuses on middle income and creditworthy poor countries, while IDA focuses on the poorest countries in the world. Together they provide low-interest loans, interest-free credits and grants to developing countries for a wide array of purposes that include investments in education, health, public administration, infrastructure, financial and private sector development, agriculture, and environmental and natural resource management.