The World Bank, through its main affiliates, the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), provides loans, credits, grants and guarantees to help promote economic growth and social progress in the developing world.
The IBRD lends largely to middle-income developing countries and finances its operations primarily through bond sales on world capital markets, whereas IDA finances projects in the world's poorest countries and lends on concessional terms, drawing largely on contributions from its member countries.
The Bank mobilizes resources to support these efforts by forging effective partnerships with the members of the international development and financial community. In addition to mobilizing contributions to IDA from donor governments directly, it works with a broad array of private and public institutions. Often, the Bank also cofinances projects with governments, commercial banks, export credit agencies, multilateral institutions, and private sector investors.
The Bank also mobilizes resources to help finance non-lending technical assistance activities to meet the special needs of developing countries and emphasizes its guarantee instruments as a catalyst for private capital flows.
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