The World Bank Group consists of five institutions:
1. The International Bank for Reconstruction and Development (IBRD) provides loans and technical assistance to middle-income and creditworthy low-income countries.
2. The International Development Association (IDA) provides interest-free loans and grants to the world’s poorest countries.
3. The International Finance Corporation (IFC) provides financing and advisory services to private sector companies in developing countries.
4. The Multilateral Investment Guarantee Agency (MIGA) provides political risk insurance and credit enhancement to encourage foreign investment in developing countries.
5. The International Centre for Settlement of Investment Disputes (ICSID) provides facilities for the arbitration and conciliation of investment disputes between governments and foreign investors.
The World Bank Group works with governments, civil society organizations, and the private sector to address a wide range of development challenges, including poverty, education, health, infrastructure, and environmental sustainability. By providing financial resources, technical expertise, and policy advice, the World Bank Group aims to help countries achieve their development goals and improve the lives of their citizens.
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