World Bank Group - Market OverviewWBG - Market Overview
The World Bank Group is the largest development finance institution in the world. Established in December 1945 following ratification of the Bretton Woods agreements to facilitate post-World War II reconstruction, today it is dedicated to achieving two overarching goals: ending extreme poverty by decreasing the percentage of people living on less than $1.90 a day to no more than 3 percent by 2030; and promoting shared prosperity by fostering the income growth of the bottom 40 percent for every country.
The World Bank Group is a family of five international organizations:
- International Bank for Reconstruction and Development (IBRD) provides debt financing to governments of middle-income and creditworthy low-income countries
- International Development Association (IDA) provides concessional financing (interest-free loans and grants) to governments of the world’s poorest countries
- International Finance Corporation (IFC) supports global development by providing financing and investment in the private sector
- Multilateral Investment Guarantee Agency (MIGA) promotes investment in developing countries by offering political risk insurance (guarantees) to investors and lenders
- International Centre for Settlement of Investment Disputes (ICSID) provides facilities for conciliation and arbitration of investment disputes
- Project Procurement A developing country government borrows funds from the World Bank (IBRD, IDA) for a public works project (goods, works, consulting/advisory services); that government runs a public competition and selects vendors
- Corporate Procurement The World Bank Group itself runs a competition for consulting/advisory services, often in relation to IBRD, IDA and/or IFC funded projects
- Private Sector Solutions American and developing country private sector firms partner with IFC on loans, equity investments, venture capital, advisory services and other solutions in support of private sector activities
- In addition, the services of the Multilateral Investment Guarantee Agency (MIGA), like the services of the U.S. Government’s Overseas Private Investment Corporation (OPIC), can help American firms engage, even in the world’s most challenging environments, with a greater sense of confidence.
Understanding how to approach these opportunities requires careful analysis and a strategic approach. Read through this guide as a first step on that journey. Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.
Financial Services Trade Development and Promotion World Bank