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The World Bank Annual Report 2008

WBAR2008 cover photo cropped

LETTER OF TRANSMITTAL
This Annual Report, which covers the period from July 1, 2007, to June 30, 2008, has been prepared by the Executive Directors of both the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA)—collectively known as the World Bank—in accordance with the respective bylaws of the two institutions. Robert B. Zoellick, President of IBRD and IDA, and Chairman of the Board of Executive Directors, has submitted this report, together with the accompanying administrative budgets and audited financial statements, to the Board of Governors. Annual reports for the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for Settlement of Investment Disputes (ICSID) are published separately.

International Poverty Lines and the 2008 Annual Report
Poverty estimates in this report use international poverty lines that are based on 1993 purchasing power parity (PPP) conversion factors. This was the latest measure at press time. As of August 2008, the World Bank was in the process of revising poverty estimates using more recent PPP conversion factors that are based on the 2005 round of the International Comparison Program. For more information, visit http://econ.worldbank.org/povcalnet.