World Bank

Also found in: Dictionary, Thesaurus, Legal, Acronyms, Encyclopedia, Wikipedia.
Related to World Bank: IMF

World Bank

A multilateral development finance agency created by the 1944 Bretton Woods, (New Hampshire) negotiations. It makes loans to developing countries for social overhead capital projects that are guaranteed by the recipient country. See: International Bank for Reconstruction and Development.

World Bank

A bank that provides loans and grants to developing countries. Formed by the Bretton Woods negotiations in 1944 and founded in 1945, it was established to rebuild Europe and Asia after World War II. It loans money for infrastructural, business, and environmental development worldwide. It charges developing countries low interest rates, raising its funds from bonds issued to governments and institutions. Because its largest shareholder is the United States, the president of the World Bank is traditionally American. See also: International Monetary Fund.

World Bank.

Formally known as the International Bank for Reconstruction and Development (IBRD), the World Bank was established in 1944 to aid Europe and Asia after the devastation of World War II.

To fulfill its current roles of providing financing for developing countries and making interest-free and low-interest long-term loans to poor nations, the World Bank raises money by issuing bonds to individuals, institutions, and governments in more than 100 countries.

World Bank (International Bank for Reconstruction and Development)

an international institution established in 1947 whose purpose is to assist countries to develop their economies by the provision of economic aid in the form of loans and technical assistance. The World Bank supports a wide range of projects in the less developed countries including the establishment of infrastructure (roads, gas and water supplies, schools and hospitals), the modernization of traditional industries (farm mechanization and cultivation techniques) and the setting up of new industries (iron and steel, textiles etc.).

The Bank's resources are provided largely by subscriptions from the advanced countries, although it also issues its own securities to raise additional funds. Generally, the Bank lends on a commercial basis – loans are repayable and bear market-related interest charges – but it also provides low-interest (‘soft’) loans through its affiliate the Industrial Development Association, while a further affiliate, the International Finance Corporation invests in share capital in selected companies.

World Bank


International Bank for Reconstruction and Development

an international organization established in 1947 as the ‘International Bank for

Reconstruction and Development’ (following the Bretton Woods Conference, 1944) to provide ECONOMIC AID to member countries. The World Bank is based in Washington, DC, USA, and currently has a membership of 181 countries. The Bank's name reflects its earlier involvement in the ‘reconstruction’ of ruined economies after the Second World War, but for most of its existence the provision of economic aid to support ‘development’ of the economies of DEVELOPING COUNTRIES has been its almost exclusive concern. The Bank provides a mechanism for channelling multilateral economic aid from its richer members to developing countries/‘emerging economies’, but, additionally, it has the power to raise its own capital resources on the world's leading stock exchanges.

The Bank supplies not only foreign exchange to finance development projects but also provides expert personnel and promotes ‘technology transfer’ from advanced countries to the developing countries as a means of upgrading their economic capabilities.

The Bank has supported a wide range of long-term investments, including infrastructure projects such as roads, telecommunications and electricity and water supply; agricultural and industrial projects, including the establishment of new industries, as well as social, training and educational programmes. In general, the Bank operates according to ‘business principles’, lending at commercial rates of interest only to those governments it feels are capable of servicing and repaying their debts. In 1960, however, it established an affiliate agency, the International Development Association, to provide low-interest loans to its poorer members.

Another affiliate of the Bank is the International Finance Corporation, which can invest directly in companies by acquiring shares.

In 2003 the World Bank's cumulative outstanding loans totalled $USA 525,000 million. The major recipients of these loans were India ($60,000 million), China ($37,000 million), Mexico ($35,000 million), Brazil ($33,000 million) and Indonesia ($30,000 million).

References in periodicals archive ?
But the spokesperson underlined that a recent report of the World Bank also discussed the growing current account deficit and the decline in reserves as well as the widening fiscal deficit, which has reversed a trend of fiscal tightening over the previous three years.
7 percent as the impact of election-related spending in 2016 dissipated,' the World Bank noted in the report.
The World Bank has also been working with the Lebanese government on improving the infrastructure, with economic growth as their ultimate goal," Ghanem said at the news conference, expressing pleasure in taking part in the signing of a deal that will empower Lebanon's different sectors.
The World Bank Group also discussed the possibility of cooperation with the Sultanate in financing governmental projects.
The World Bank (International Bank for Reconstruction and Development, IBRD) is an international organization created in 1944.
It has not made any payments to the World Bank since 2000.
Although having permanent headquarters in Egypt, this is the first visit by a World Bank official since30 June.
It wants to finalise its selection by the time of the April 20-22 meetings of the World Bank and its sister lending organization, the International Monetary Fund.
Zoellick, who will be making his first visit as World Bank president to the region, will meet Prime Minister Salam Fayyad as well as Israeli Prime Minister Benjamin Netanyahu and other officials and will give a talk at the annual Herzliya Conference on 'The Future of the Global Economy.
The World Bank will consider approval of the Benazir Income Support Program (BISP) additional financing project on February 7, 2012, under which $25 million would be disbursed.
Summary: Within the framework of the World Bank' sub-regional consultations to achieve the environmental sustainability of the World Bank's Group, the World Bank and the International Finance Cooperation held on Tuesday in collaboration with the Tunisian Ministry of Environment and Sustainable Development, a regional workshop in Tunis on " the 2010 Environmental Strategy of World Bank's Group".
World Bank Boosts PA's Plans to Build State Institutions with $64mn

Full browser ?