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World Bank UPSC NOTE


  • The World Bank is one of the United Nations' specialized agencies.

  • The World Bank Group is a unique global partnership of five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries.

  • It has 189 member countries, in which India is a member country.

  • To become a member of the Bank, a country must first join the International Monetary Fund (IMF).

  • Membership in IDA, IFC and MIGA is conditional. A country has to first become a member of IBRD for that.

  • The World Bank Group is an extended family of five international organizations

    • International Bank for Reconstruction and Development (IBRD)

    • International Development Association (IDA)

    • International Finance Corporation (IFC).

    • Multilateral Guarantee Agency (MIGA)

    • International Centre for the Settlement of Investment Disputes (ICSID)

      • India is not a member of ICSID.

Loans and the World Bank

  • The Bank lends money to middle-income countries at interest rates lower than the rates on loans from commercial banks.

  • In addition, the Bank lends money at no interest to the poorest developing countries, those that often cannot find other sources of loans.

  • Countries that borrow from the Bank also have a much longer period to repay their loans than commercial banks allow and don't have to start repaying for several years.

Reports published by World Bank

  • World Development Report

  • Global Economic Prospect (GEP) Report

  • Logistics Performance Index

  • Remittance Report

  • Ease of Living Index

  • Universal Health Coverage Index

  • The Service Trade Restriction Index



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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: World Bank UPSC NOTE
World Bank UPSC NOTE
Learnerz IAS | Concept oriented UPSC Classes in Malayalam
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