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| Concessional Finance & Global Partnerships |
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The World Bank, through its main affiliates, the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), lends approximately $20 billion each year to promote economic growth and social progress in the developing world. The IBRD lends largely to middle-income developing countries and finances its operations primarily through bond sales on world capital markets, whereas IDA finances projects in the world's poorest countries and lends on concessional terms, drawing largely on contributions from its wealthier member countries.
The Bank mobilizes resources to support these efforts by forging effective partnerships with the members of the international development and financial community. In addition to mobilizing contributions from donor governments directly, it works with a broad array of private and public institutions. Often, the Bank also cofinances its projects with governments, commercial banks, export credit agencies, multilateral institutions, and private sector investors. The Bank also mobilizes resources to help finance non-lending technical assistance activities to meet the special needs of developing countries and emphasizes its guarantee instruments as a catalyst for private capital flows.
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