DEFINITION of 'World Bank Group'

Five international organizations dedicated to providing financial assistance and advice to countries struggling with poverty and economic development. The World Bank generally focuses on developing third-world countries, helping them in areas such as health, education and agriculture. This bank provides loans and grants at discounted rates to these countries.

BREAKING DOWN 'World Bank Group'

The World Bank Group was created on December 27, 1945 as part of the Bretton Woods agreement. Its five agencies are:

International Bank for Reconstruction and Development (IBRD)
International Development Association (IDA)
International Finance Corporation (IFC)
Multilateral Investment Guarantee Agency (MIGA)
International Centre for Settlement of Investment Disputes (ICSID)

The term "World Bank" usually refers to the IBRD and IDA, whereas World Bank Group refers to the institutions as a whole.

RELATED TERMS
  1. The World Bank

    An international organization dedicated to providing financing, ...
  2. International Bank Of Reconstruction ...

    A component of the United Nation's World Bank Group that was ...
  3. Third World

    A phrase commonly used to describe a developing nation, but actually ...
  4. Poverty Gap

    The average shortfall of the total population from the poverty ...
  5. Developed Economy

    While there is no one, set definition of a developed economy ...
  6. Poverty

    A state or condition in which a person or community lacks the ...
Related Articles
  1. Insights

    What Is The World Bank?

    You've heard of the World Bank, now find out how it functions and why some groups oppose it.
  2. Insights

    World Bank Data For Dummies

    Developing countries can't always afford to track the data crucial to setting the right economic policies and programs. That's where the World Bank steps in.
  3. Insights

    Could Third World Debt Relief Pay Off?

    Debt is as much a political tool as an economic one. Discover if wholesale debt forgiveness is the answer for developing countries.
  4. Insights

    Confused How The IMF, World Bank, & WTO differ?

    From loans to Athens and trade deals in Asia to economic reports on the world’s most successful and most troubled economies, these organizations make headlines across the globe
  5. Insights

    Understanding the Bretton Woods Agreement

    The Bretton Woods Agreement is a famous international monetary agreement that came out of a meeting of the UN Monetary and Financial Conference.
  6. Insights

    Top 25 Developed and Developing Countries

    The difference between developed and developing countries, along with a list of the status of 25 nations around the world.
  7. Managing Wealth

    Evaluating Country Risk For International Investing

    Investing overseas begins with determining the risk of the country's investment climate.
  8. Personal Finance

    Retail Banking Vs. Corporate Banking

    Retail banking is the visible face of banking to the general public. Corporate banking, also known as business banking, refers to the aspect of banking that deals with corporate customers.
  9. Personal Finance

    What Is The Bank For International Settlements?

    Get the scoop on the structure and functions of the oldest global financial institution.
  10. Investing

    What is a Capital Account?

    Capital account is an economic term that refers to the net change in investment and asset ownership for a nation.
RELATED FAQS
  1. What is the difference between International Monetary Fund and the World Bank?

    Learn about the International Monetary Fund and the World Bank and how they are differentiated by their respective functions ... Read Answer >>
  2. What developed countries have the highest concentration in the banking sector?

    Learn about the developed countries that have the greatest concentration in the banking sector and the most important emerging ... Read Answer >>
  3. Is Mexico an emerging market economy?

    Learn the difference between a developed economy and an emerging market economy, and understand why Mexico is an emerging ... Read Answer >>
  4. Is Colombia an emerging market economy?

    Learn the definition of an emerging market economy, and understand how Colombia, while not yet developed, meets the standards ... Read Answer >>
  5. What economic indicators are important to consider when investing in the banking ...

    Find out which economic indicators are most useful for investors in the banking sector, especially those influenced by central ... Read Answer >>
  6. What countries represent the largest portion of the global banking sector?

    Learn how four countries, China, the U.K., France and the U.S., exhibit the greatest influence over the global banking sector, ... Read Answer >>
Hot Definitions
  1. Universal Health Care Coverage

    An organized healthcare system that provides healthcare benefits to all persons in a specified region. Many countries, such ...
  2. Davos World Economic Forum

    The annual meeting of the World Economic Forum hosted at Davos—a small ski town in Switzerland—in January each year is among ...
  3. Smart Home

    A convenient home setup where appliances and devices can be automatically controlled remotely from anywhere in the world ...
  4. Efficient Frontier

    A set of optimal portfolios that offers the highest expected return for a defined level of risk or the lowest risk for a ...
  5. Basis Point (BPS)

    A unit that is equal to 1/100th of 1%, and is used to denote the change in a financial instrument. The basis point is commonly ...
  6. Initial Public Offering - IPO

    The first sale of stock by a private company to the public. IPOs are often issued by smaller, younger companies seeking the ...
Trading Center