World Bank Group — Ending poverty, Investing in Opportunity
Committed to reducing poverty globally and improving living standards by providing resources, sharing knowledge, building capacity and forging partnerships in the public and private sectors. Overall helping people help themselves.
This is the World Bank Group for us.
About the World Bank Group
The World Bank Group (WBG) formed nearly 75 years ago is a family of 5 international organizations that loans to developing countries. It is headquartered in Washington, D.C in the United States. The bank’s stated mission is to achieve the twin goals of ending extreme poverty and building shared prosperity. Its five organizations are the International Bank for Reconstruction and Development (IBRD), 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)
Facts about WBG
1. The IBRD and the IDA, comprise the World Bank, a subgroup within the World Bank Group.
2. Their aim is to end extreme poverty by 2030 globally.
3. There are 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the WBG is a unique global partnership.
4. More than 60 countries are working with the World Bank Group to transform their human capital outcomes.
5. The World Bank approved $8.9 billion in lending to South Asia for 54 operations in fiscal 2019, including $4.0 billion in IBRD loans and $4.9 billion in IDA commitments.
6. The World Bank is backed by subscriptions paid by its member countries, bond flotations from international markets, and earnings from its own assets and that’s how the money comes.
Social Development by WBG
The WBG has put people first in the developmental process. They work by giving equal access to opportunities, addressing common needs, supporting community organization, strengthening links between citizens and government, empowering through community-driven development, managing social and political risks, mainstreaming gender concerns, infrastructure developments etc. Many projects in different countries are funded by IRDB and IDA.
The World Bank Group through its mission and actions are bringing dramatic changes globally. As a global development leader, the World Bank will continue to promote innovative, effective, and sustainable ways to work towards their goal. Well let’s hope they make it!
What’s your take on it?
Contributed By- Drishti D, Content Writer @ Mitti Ke Rang
At Mitti Ke Rang, we started with a COVID-19 community support fundraising, as an emergency response to provide a safety net to families. This will help them survive in the lockdown period. We aim to directly support these families by providing a minimum wage, through transferring the same into their accounts or partner with local NGO, Organisation, Fellow, or a Volunteer and support them with groceries.
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