Synonyms
International financial organization; international organization formed in 1945 under the Bretton Woods agreement to assist with economic development in poorer countries that are members of the United Nations
Definitions
The twin goal of the World Bank Group is to concentrate its resources on ending extreme poverty and on promoting shared prosperity in a sustainable way, especially in the fragile states of sub-Saharan Africa and South Asia. The activities of the WBG extend from data collection, technical policy advice, lending, investment, risk mitigation, training, knowledge sharing, and the strengthening of partnerships worldwide, especially within the private sector.
The World Bank Group
The World Bank Group (WBG) is the largest global financier of economic and social development in the low- and middle-income countries. The WBG consists of five organizations, including the International Bank for Reconstruction and Development (IBRD), the International Development...
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References
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Kallo, J. (2018). Role of the World Bank Group in the Field of Higher Education Research. In: Encyclopedia of International Higher Education Systems and Institutions. Springer, Dordrecht. https://doi.org/10.1007/978-94-017-9553-1_192-1
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DOI: https://doi.org/10.1007/978-94-017-9553-1_192-1
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