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The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. [5] The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA ...
World Bank Group. The World Bank Group ( WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and best-known development bank in the world and an observer at the United Nations Development Group. [7] The bank is headquartered in Washington, D.C., in the United States.
The International Finance Corporation ( IFC) is an international financial institution that offers investment, advisory, and asset-management services to encourage private-sector development in less developed countries. The IFC is a member of the World Bank Group and is headquartered in Washington, D.C. in the United States.
The International Centre for Settlement of Investment Disputes ( ICSID) is an international arbitration institution established in 1966 for legal dispute resolution and conciliation between international investors and States. ICSID is part of and funded by the World Bank Group, headquartered in Washington, D.C., in the United States.
The Inter-American Development Bank ( IDB or IADB) is an international development finance institution headquartered in Washington, D.C., United States of America, and serving as the largest source of development financing for Latin America and the Caribbean. [1] Established in 1959, the IDB supports Latin American and Caribbean economic ...
Incumbent. Ajay Banga. since June 2, 2023. Term length. Five years, renewable. Website. president .worldbankgroup .org. The president of the World Bank Group is the head of World Bank Group. The president is responsible for chairing the meetings of the boards of directors and for overall management of the World Bank Group.
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