World Bank

Glossary

Banking

World Bank

The World Bank Group is a supranational multi-government-run financial institution housing five institutions: the International Bank of Reconstruction and Development (a.k.a. the World Bank), the International Finance Corporation, the International Development Association, the Multilateral Investment Guarantee Agency and the International Centre for Settlement of Investment Disputes. The group’s overarching mission is to end extreme poverty, promote shared prosperity by increasing the incomes of the poorest 40% of people in every country, and promote sustainable development. The group seeks to achieve this by extending a combination of loans, grants, guarantees, equity financing and insurance, alongside technical assistance and policy advice. In its fiscal year 2021, the Group committed USD 157bn to its mission.

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