The Development Economics Vice Presidency (DEC) seeks to increase understanding of development policies and programs by providing intellectual leadership and analytical services to the Bank and the development community.
Select another World Bank department to learn more about its work.
The International Finance Corporation (IFC) is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments.
The Multilateral Investment Guarantee Agency (MIGA) was created in 1988 to promote foreign direct investment into developing countries to support economic growth, reduce poverty, and improve people’s lives. MIGA fulfills this mandate by offering political risk insurance (guarantees) to investors and lenders.
The organizations that make up the World Bank Group are owned by the governments of member nations, which have the ultimate decision-making power within the organizations on all matters, including policy issues.
Each autumn, the Boards of Governors of the World Bank Group and International Monetary Fund hold annual meetings to discuss a range of issues related to poverty reduction, international development and finance.
The Boards of Directors consist of the World Bank Group President and 25 Executive Directors acting as a unit to consider and decide on loans, credits and grants; private sector support, political risk guarantees, policies and strategic issues.