IBRD Meaning and
Definition
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The International Bank for Reconstruction and Development (IBRD) is an organization that is part of the World Bank Group. It was established in 1944 with the primary objective of assisting in the reconstruction and development of war-torn countries in the aftermath of World War II. The IBRD aims to promote economic growth, reduce poverty, and improve living standards in developing countries by providing financial resources, expertise, and technical assistance.
As a multilateral development bank, the IBRD provides loans and grants to its member countries for a wide range of projects, such as infrastructure development, education, health, agriculture, and environmental conservation. These projects aim to stimulate economic growth, improve infrastructure and utilities, enhance social services, and support sustainable development.
With 189 member countries, the IBRD operates on the basis of mutual cooperation and sustainable development principles. It raises funds for its lending activities by issuing bonds and borrowing from financial markets. The funds raised are then used to provide loans on concessional terms to member countries, including low-interest rates and long repayment periods.
The IBRD also works closely with the International Development Association (IDA), which focuses on providing grants and concessional loans to the world's poorest countries.
In summary, the IBRD is an international financial institution that aids in the reconstruction and development of countries by providing financial resources, technical expertise, and other forms of support to promote economic growth and reduce poverty.
Common Misspellings for IBRD
Etymology of IBRD
The word "IBRD" stands for the International Bank for Reconstruction and Development, which is commonly referred to as the World Bank.
The etymology of "IBRD" is not derived from any specific language as it is an acronym formed by taking the first letter of each word in its full name. The International Bank for Reconstruction and Development was established in 1944 with the aim of providing financial and technical assistance to developing countries for development projects.
Similar spelling word for IBRD
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