The International Bank for Reconstruction and Development (IBRD)
The International Bank for Reconstruction and Development (IBRD) is a multilateral development bank that provides financial assistance to countries for the purpose of economic development and poverty reduction. The IBRD is one of five organizations that make up the World Bank Group, along with the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for Settlement of Investment Disputes (ICSID).
The IBRD was established in 1944 to help rebuild countries that had been devastated by World War II. It provides loans, guarantees, and other financial products to member countries, with a focus on supporting long-term economic development and reducing poverty. The IBRD also provides technical assistance and policy advice to its member countries.
The IBRD is owned by member countries, which are represented on its board of governors. It is headquartered in Washington, D.C. and operates through a network of offices around the world.
IBRD and India
India is a member of the International Bank for Reconstruction and Development (IBRD) and has a long-standing relationship with the organization. The IBRD is one of five organizations that make up the World Bank Group, and India has been a member of the World Bank Group since its establishment in 1944.
As a member of the IBRD, India is eligible to borrow from the organization and has received a number of loans from the IBRD over the years. These loans have supported a wide range of development projects and programs in India, including infrastructure projects, health and education initiatives, and private sector development programs.
In addition to borrowing from the IBRD, India is also a shareholder in the organization and has a representative on its board of governors.
The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of The Kootneeti Team