Established in 1944, the WBG is one of the world's largest sources of funding and knowledge for development solutions. In fiscal year 2014, the WBG committed $65.6 billion in loans, grants, equity investments and guarantees to its members and private businesses, of which $22.2 billion was concessional finance to its poorest members. It is governed by 188 member countries and delivers services out of 120 offices with nearly 15,000 staff located globally.
The WBG consists of five specialized institutions: 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 the Settlement of Investment Disputes (ICSID). IBRD and IDA are commonly known as the World Bank, which is organized into six client-facing Regional Vice-Presidencies, several corporate functions, and – as of July 1, 2014 – has introduced fourteen Global Practices (GPs) as well as five Cross-Cutting Solution Areas (CCSAs) to bring best-in-class knowledge and solutions to regional and country clients.
GLOBAL PRACTICES & CROSS-CUTTING SOLUTIONS AREAS
The new operating model is part of a broader internal reform aimed at delivering the best of the World Bank Group to our clients, so that together we can achieve the twin goals of (1) ending extreme poverty by 2030, and (2) promote shared prosperity for the bottom 40% of the population in every developing country.
THE ROLE OF THE WBG IN TRADE AND COMPETITIVENESS
The World Bank Group is renewing its commitment to systematically strengthen its engagement on trade and competitiveness issues in pursuit of the Twin Goals. A newly constituted Trade and Competitiveness Global Practice (T&C) brings together diverse World Bank and IFC Advisory units around a common vision: sustained economic growth, productivity gains, job creation, and rising incomes for developing countries to eradicate poverty and boost shared prosperity. T&C's mission is to serve as a trusted partner for countries that seek to develop dynamic and resilient economies, expand market opportunities, and enable private initiative. To this end, T&C supports global and country efforts to boost the volume and value of trade, enhance the investment climate, improve competitiveness in sectors, and foster innovation and entrepreneurship.
Posts
0 comments:
Post a Comment