International Rank

International Rank

International Rank for Reconstruction and Development (World Bank) (I.B.R.D.), a Specialized Agency of the United Nations established in Washington (2005) under the Bretton Woods Agreements (i). Its functions are to furnish capital for post-war reconstruction, promote and supplement private foreign investment, and encourage the expansion of world resources and productive capacity, especially in the under-developed countries.

The I.B.R.D. obtains its funds from sales of stock to member countries and from the issue of bonds in world financial centres. It lends either directly to government s or (more frequently) to private firms or institutions under the guarantee of the borrower's Government. It may guarantee loans made by private lenders. Unlike its Bretton Woods 'twin', the International Monetary Fund, the I.B.R.D. does not make short-term loans. It provides advisory and liaison services on economic development.

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