World Bank: Building Financial Sector Resilience In The Times of Crisis
The World Bank is one of the most powerful international financial institutions in the world and happens to be the largest sources of funding and knowledge for developing countries. It aims to provide loans for countries of the world in the form of capital and development projects. As the World Bank originally a component of the World Bank Group which comprises 5 organizations, it will mainly focus on these institutions : The International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) which provides financing, policy advice, and technical assistance to governments of developing countries, while The International Finance Corporation (IFC), The Multilateral Investment Guarantee Agency (MIGA), and The International Centre for Settlement of Investment Disputes (ICSID) focus on strengthening the private sector in developing countries Being one of the powerful institutions. It aims to end extreme poverty and promote shared prosperity and promote sustainable development, which are defined by its Article of Agreement as the commitments to the promotion of foreign investment and international trade and to the facilitation of capital investment, mainly in countries who become the target of these respective institutions.