Definition

1. Proper noun:
   • International Bank for Reconstruction and Development: A specialized agency of the United Nations, established to provide financial assistance in the form of loans and guarantees to its member countries for the purpose of promoting economic development and reconstruction, particularly in developing nations. Its loans are backed by the guarantees of its member governments.

Usage

• The International Bank for Reconstruction and Development is often referred to as the World Bank, though technically it is one of five institutions within the World Bank Group.
• It is used to discuss global development finance, infrastructure projects, and international economic policy.

Examples

• The International Bank for Reconstruction and Development approved a $500 million loan to support the country's education reform.
• Many post-war reconstruction projects in Europe were financed by the International Bank for Reconstruction and Development.
• Funding from the International Bank for Reconstruction and Development is crucial for building dams and power plants in developing economies.

Advanced Usage

• As an institutional actor: The term is used when discussing the specific legal and financial entity, distinguishing it from the International Development Association (IDA) or other parts of the World Bank Group.
  • The International Bank for Reconstruction and Development focuses on lending to middle-income and creditworthy low-income countries, while the IDA provides grants and concessional loans to the poorest nations.

Variants and Related Words

• World Bank (n): The common name for the group of five international organizations, including the IBRD. Often used interchangeably with "International Bank for Reconstruction and Development" in general contexts.
• IBRD (n): The standard acronym for the International Bank for Reconstruction and Development.
• Bretton Woods institution (n): A term for the International Bank for Reconstruction and Development and the International Monetary Fund, both created at the 1944 Bretton Woods Conference.

Synonyms

• World Bank (in common, non-technical usage)
• Development bank (a general category which includes the IBRD)

Related Phrases

• Member country/shareholder: A nation that is a member and provides capital to the International Bank for Reconstruction and Development.
• Loan guarantee: The financial backing provided by member governments, which allows the International Bank for Reconstruction and Development to borrow funds at low interest rates and lend them to developing countries.

Noun

1. a United Nations agency created to assist developing nations by loans guaranteed by member governments