60 - International Bank for Reconstruction and Development (IBRD)

GK BY - SANJAY UTTAM

International Bank for Reconstruction and Development (IBRD)

1).The International Bank for Reconstruction and Development (IBRD) is an international financial institution that offers loans to middle income developing countries

2).It is the 1st of the 5-member institutions that form the World Bank Group

3).Headquarters – Washington DC

4).Head – Jim Yong Kim (President of the World Bank)

5).It was established in 1944 to finance the reconstruction of European nations devastated by World War II

6). IBRD with International Development Association forms the World Bank

7). IBRD was established at the Bretton Woods Conference in 1944 along with International Monetary Fund(IMF) and became operational in 1946

8). 1st loan of 2.6 billion dollars was provided to France in 1947

9).Members – 188 of the UN countries

10).IBRD provides financial services as well as strategic coordination and information services to its borrowing countries

11).IBRD manages the World Bank’s—–

· Debt portfolio of 100 billion dollars
· Financial derivatives transactions of 20 billion dollars

12).IBRD operates a Deferred Drawdown Option which serves as a line of credit with features similar to the World Bank’s flexible loan program

13).IBRD offers—-

· Policy-based guarantees to cover the sovereign default risk
· Partial credit guarantees to cover the credit risk

14).The IBRD assists in the development of social infrastructure by financing special programmes of development of education health and training

15).It provides loans to governments and public enterprises

16).IBRD helps in establishment of projects in backward areas

17).IBRD supports special programmes related to the development in the following sectors
· Forest
· Post
· Agriculture
· Urban services
· Housing projects
· Sewerage development of underground railways