[20200917]IF11361_世界银行.pdf

https:/crsreports.congress.gov Updated September 17, 2020The World BankThe World Bank, the oldest and largest multilateral development bank, provides financial assistance to developing countries to promote economic development. Established in 1945, the Bank initially focused on providing financing for large infrastructure projects. During the past 75 years, its role has broadened to include poverty reduction efforts through social projects (such as education and health) and policy-based loans. The World Bank is currently focused on helping developing countries respond to the health and economic consequences of the COVID-19 pandemic. Structure and Governance The World Bank has two major lending “windows” or “facilities.” The International Bank for Reconstruction and Development (IBRD), created in 1945, provides loans, guarantees, risk management products, and advisory services to middle-income countries and some creditworthy low-income countries. The IBRD currently has 189 member countries. In 1960, at the suggestion of the United States, the International Development Association (IDA) was created to make concessional loans (with low interest rates and long repayment periods) to th