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The World Bank

The World Bank is a vital source of financial and technical assistance to developing countries around the world.  With its headquarters in Washington, DC, the World Bank is currently the world's largest source of development assistance.  The World Bank provide low-interest loans, interest-free credits and grants to developing countries for a wide variety of purposes.  The World Bank's five component entities have specific objectives:

1. The International Finance Corporation (IFC) awards loans for private sector projects in the developing world.
2. The International Development Association (IDA) provides loans to developing countries, in an effort to advance their standards of living.
3. The International Bank for Reconstruction and Development (IBRD) offers loans and development assistance to middle-income countries and creditworthy poorer countries.
4. The Multilateral Investment Guarantee Agency (MIGA) supplies investment guarantees and insurance to foreign investors in developing member countries.
5. The International Centre for Settlement of Investment Disputes (ICSID) was specially designed to facilitate the settlement of investment disputes between governments and foreign investors

Edited by Michael C. Dennis