© The World Bank
The World Bank Group today comprises five closely associated institutions that collaborate to support development projects worldwide. Examples of Bank Group cooperation include joint Country Assistance Strategies; investment promotion initiatives; the Foreign Investment Advisory Service; guarantee programs for major infrastructure projects; collaboration on private sector development activities; joint programs for developing micro, small, and medium enterprises; and HIV/AIDS awareness and prevention. (Seehttp://www.ifc.org/, http://www.miga.org/, andhttp://www.worldbank.org/icsid for annual reports of the other members of the World Bank Group.) |
 | THE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT
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| Established 1945 | 184 Members
Cumulative lending: $407.4 billion
Fiscal 2005 lending: $13.6 billion for 118 new operations in 37 countries | IBRD aims to reduce poverty in middle-income and creditworthy poorer countries by promoting sustainable development through loans, guarantees, risk management products, and (nonlending) analytical and advisory services. The income that IBRD has generated over the years has allowed it to fund development activities and to ensure its financial strength, which enables it to borrow in capital markets at low cost and offer clients good borrowing terms. IBRD's 24-member Board is made up of 5 appointed and 19 elected Executive Directors who represent its 184 member countries. | IBRD Key Financial Indicators
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 | THE INTERNATIONAL DEVELOPMENT ASSOCIATION
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| Established 1960 | 165 Members
Cumulative commitments: $161 billion*
Fiscal 2005 commitments: $8.7 billion for 160 new operations in 66 countries
*Includes credits, grants, and guarantees.
| Contributions to IDA enable the World Bank to provide approximately $8 billion to $9 billion a year in highly concessional financing to the world's 81 poorest countries (home to 2.6 billion people). IDA's interest-free credits and grants are vital because these countries have little or no capacity to borrow on market terms. In most of these countries, the great majority of people live on less than $2 a day. IDA's resources help support country-led poverty reduction strategies in key policy areas, including raising productivity, providing accountable governance, building a healthy private investment climate, and improving access to education and health care for poor people. |
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 | THE INTERNATIONAL FINANCE CORPORATION
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| Established 1956 | 178 Members
Committed portfolio: $24.6 billion (includes $5.3 billion in syndicated loans)
Fiscal 2005 commitments: $5.4 billion for 236 projects in 67 countries | IFC promotes economic development through the private sector. Working with business partners, it invests in sustainable private enterprises in developing countries without accepting government guarantees. It provides equity, long-term loans, structured finance and risk management products, and technical assistance and advisory services to its clients. IFC seeks to reach businesses in regions and countries that have limited access to capital. It provides finance in markets deemed too risky by commercial investors in the absence of IFC participation and adds value to the projects it finances through its corporate governance, environmental, and social expertise. |
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 | THE MULTILATERAL INVESTMENT GUARANTEE AGENCY
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| Established 1988 | 165 Members
Cumulative guarantees issued: $14.7 billion*
Fiscal 2005 guarantees issued: $1.2 billion
*Amounts include funds leveraged through the Cooperative Underwriting Program.
| Concerns about investment environments and perceptions of political risk often inhibit foreign direct investment—a key driver of economic growth—in developing countries. MIGA addresses these concerns by providing political risk insurance (guarantees), offering investors protection against noncommercial risks such as expropriation, currency inconvertibility, breach of contract, war, and civil disturbance. MIGA also provides advisory services to help countries attract and retain foreign investment, mediates investment disputes to keep current investments intact and remove possible obstacles to future investment, and disseminates information on investment opportunities to the international business community. |
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 | THE INTERNATIONAL CENTRE FOR SETTLEMENT OF INVESTMENT DISPUTES
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| Established 1966 | 142 Members
Total cases registered: 184
Fiscal 2005 cases registered: 25 | ICSID helps encourage foreign investment by providing international facilities for conciliation and arbitration of investment disputes, thereby helping foster an atmosphere of mutual confidence between states and foreign investors. Many international agreements concerning investment refer to ICSID's arbitration facilities. ICSID also conducts research and publishing activities in the areas of arbitration law and foreign investment law.
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WORLD BANK GROUP COOPERATION IN EXTRACTIVE INDUSTRIES In response to the independent 2004 Extractive Industries Review, the World Bank, IFC, and MIGA have begun implementing proposals endorsed by the Board of Directors. These programs are aimed at improving the governance, community involvement, and revenue management of oil, gas, and mining projects supported by the Bank Group. The organizations are now setting up an Extractive Industries Advisory Group, which will draw on the experience of outstanding representatives from a range of stakeholder groups to provide advice and a forum for discussing key issues in these industries. As part of an overall commitment to sustainability, the Bank Group will also increase its investments in natural gas and renewable energies, as well as in projects that improve energy efficiency. Note: For more information, please consult the IFC ( http://www.ifc.org/ ), MIGA ( http://www.miga.org/), and ICSID annual reports. |
© 2005 The International Bank for Reconstruction and Development/The World Bank |
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