The IBRD is one of five institutions that make up the World Bank Group. Established in 1944, its primary goal is to reduce poverty in middle-income and creditworthy poorer countries by promoting sustainable economic growth.
Think of the IBRD as a community center that provides resources and support to families (countries) who are trying to improve their living conditions. They offer tools, advice, and financial aid to help these families build a better future.
World Bank: An international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects.
Economic Development: The process by which a nation improves the economic, political, and social well-being of its people.
Poverty Reduction Strategy Papers (PRSPs): These are documents required by IMF and World Bank before a country can be considered for debt relief within Heavily Indebted Poor Countries initiative.
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