Dictionary of Banking Terms: world bank group
world bank group
collective name for the International Bank For Reconstruction And Development (IBRD) (the World Bank) and its affiliates: the International Finance Corporation, organized in 1950 to provide long-term project financing to developing countries; and the International Development Association, formed in 1960 to makelong-term (up to 50 years) loans at low interest rates. The International Development Association is supported by periodic contributions from World Bank member countries. The World Bank itself raises capitalfor lending by selling bonds in the capital markets of member countriesand from direct contributions of member governments.
