Its main focus is to help people in developing countries raise their standards of living through finance for agriculture, schools, health programs, transportation and other essential needs. .
The International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA) are the private sector affiliates of the World Bank Group. IFC supports private enterprise in the developing world through loan and equity financing. MIGA facilitates the movement of private foreign direct investment to its developing member countries by providing investment insurance to foreign private investors in theses countries against political risks such as expropriation, breach of contract and war. It also provides investment marketing services and legal advice to host governments on means to attract foreign investment. The International Centre for Settlement of Investment Disputes provides facilities for the conciliation and arbitration of disputes between governments of ICSID member countries and investors. It does not itself engage in conciliation and arbitration. .
IBRD .
The International Bank for Reconstruction and Development (IBRD) was established on July 1944 at the United Nations Monetary and Financial Conference in Bretton Woods, New Hampshire, USA. The World Bank opened for business on June 25, 1946. In 1947 it gave its first loan to France for $250 million to finance post-war construction. Today, the World Bank has a lending portfolio of $144 billion. .
Its main purpose is to provide loans and development assistance to middle-income countries and credit- worthy poorer countries. Voting power is linked to members' capital subscriptions, which in turn are based on each country's relative economic strength. The IBRD obtains most of its funds through the sale of bonds in international capital markets. .
IDA .
The International Development Association, IDA, is the World Bank Group's concessional lending window.
