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World Bank (IBRD), World Bank Group (IFC/IDA/MIGA/ICSD)

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Chapter Summary

The activities of the three World Bank affiliates provide a complement to the stated goals of the International Bank for Reconstruction and Development (IBRD), by focusing on particular aspects of the IBRD agenda, and especially on those concerned with less developed countries (LDCs). Apart from the IBRD itself, the World Bank Group consists of the International Finance Corporation (IFC), the International Development Association (IDA) and the Multilateral Investment Guarantee Agency (MIGA). The IBRD is dedicated to the following objectives: (a) assisting the reconstruction of war-torn economies; (b) assisting world economic growth; and (c) assisting economic and social progress, particularly in developing countries. In order to join the IBRD a country must first become a member of the International Monetary Fund (IMF). The IBRD and IDA together are known as the World Bank. The International Center for the Settlement of Investment Disputes (ICSID) is under the auspices of the World Bank.

Keywords: ICSD; International Bank for Reconstructionand Development (IBRD); International Development Association (IDA); International Finance Corporation (IFC); International Monetary Fund (IMF); Multilateral Investment Guarantee Agency (MIGA); World Bank Group



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