World Bank Group (WBG) definition

World Bank Group (WBG)

Collaborative effort by the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) to assist with the financial needs of developing countries. The World Bank Group was established in 1945 and is part of United Nations system. Each division of the World Bank Group serves a specific purpose, but all the divisions seek to contribute to the universal goal of improving the creditworthiness of poor countries.

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