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World Bank Group
The
World Bank Group
(
WBG
) is a family of five
international organizations
that make leveraged loans to developing countries. It is the largest and most famous development bank in the world and is an observer at the
United Nations Development Group
. The bank is based in
Washington, D.C.
and provided around $61 billion in loans and assistance to "developing" and transition countries in the 2014 fiscal year. The bank's stated mission is to achieve the twin goals of ending extreme poverty and building shared prosperity. Its five organizations are the
International Bank for Reconstruction and Development
(IBRD), the
International Development Association
(IDA), the
International Finance Corporation
(IFC), the
Multilateral Investment Guarantee Agency
(MIGA) and the
International Centre for Settlement of Investment Disputes
(ICSID).
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