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IBRD:- International Bank for Reconstruction and Development (world bank)
IBRD stands for the International Bank for Reconstruction and Development. It is one of the five groups that constitute the World Bank Group. IBRD is an international institution for finance that offers loans to developing countries. It was established in 1944 aiming to finance the reconstruction of European nations affected by World War 2. It has its headquarters in Washington DC, United States. The IBRD along with International Development Association is known as the World Bank. Apart from the contributions of the member nations, the IBRD gets much of its capital by borrowing from International capital markets. The Bank serves and produces loans, financial derivatives, grants, and catastrophic risk financing. The IBRD is governed by the World Bank’s Board of Governors which delegates most of its authority to the Board of Directors. The Board of Directors is chaired by the president of the World Bank Group and 25v executive directors. Currently, there are 189 member states in IBRD and they are represented by the Executive Director collectively.