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International Bank for Reconstruction and Development (IBRD)
Practical Law Glossary Item 1-500-2102 (Approx. 2 pages)
Glossary
International Bank for Reconstruction and Development (IBRD)
Founded in 1944, the International Bank for Reconstruction and Development (IBRD) is one of five institutions that make up the World Bank Group and one of two institutions that make up the World Bank. The IBRD provides financing (loans and guarantees) at its cost of financing for qualifying projects located in middle-income countries on more favorable terms than they might otherwise obtain in the market to:
- Promote economic development.
- Promote sustainable, equitable, and job-creating growth.
- Reduce poverty.
- Address issues of regional and global importance.
The IBRD is owned by and operated for the benefit of its member countries.