International Bank for Reconstruction and Development (IBRD)

The International Bank for Reconstruction and Development refers to a Global development cooperative that is known to be owned by 189 member countries. The International Bank for Reconstruction and Development is considered the largest development bank within the World. The International Bank for Reconstruction and Development aids the World Bank Group’s motive by coming up with loans, providing guarantees, and risk management products. Along with this, the International Bank for Reconstruction and Development gives advisory services to Middle-income as well as low-income countries. 

The International Bank for Reconstruction and Development was established in 1944 to support Europe’s rise again after World War II. 

Services provided by the International Bank for Reconstruction and Development 

The International Bank for Reconstruction and Development gives creative solutions related to financial aspects. Not only this but the International Bank for Reconstruction and Development also provides financial products such as loans, guarantees, risk management products as well as information and advisory services to governments working at the National level as well as the International level. 

The International Bank for Reconstruction and Development aids government efforts to build up public financial management, policies, and institutions. 

The International Bank for Reconstruction and Development gives advisory services in public debt and asset management. This helps Government, official sector institutions in establishing Institutional ability to safeguard and develop financial resources. 

Objectives of the International Bank for Reconstruction and Development 

The following tasks are allotted to IBRD:

1. To aid in supplying long-run capital to member countries to perform economic Reconstruction and Development.
2. To ensure guarantees for loans lent to small as well as large units and other projects of member countries. 
3. To make sure that implementation of development projects is done to ensure a smooth transition from a war-time to a peaceful economy. 

Historical background of the International Bank for Reconstruction and Development 

During World War II, the business classes of Europe were either taking a stand for the Nazis or were forced to escape them. 

Therefore, it became mandatory to prevent leftists from coming into power in Western Europe. To prevent this, it became important for the US as well as the UK to get back the business classes of Europe into power again. 

This could only be achieved through creating strong institutions which would support policies that are in favor of the development of private businesses. 

Hence, representatives belonging to 44 different countries set up a meeting and decided to create the International Bank for Reconstruction and Development along with the International Monetary Fund (IMF). The IBRD was instantly named the World Bank and the name hasn’t changed till now. 

In 1946, IBRD started working and the first loan was lent to France in 1947 for $250 Million. Along with France, loans were also lent to countries named Luxembourg, Denmark, and Sweden. 

Achievements of the International Bank for Reconstruction and Development till now

1. IBRD invested in Argentina’s renewable energy. This investment was worth $480 Million. The investment covered 27 renewable energy projects in Argentina. This effort of IBRD is decreasing the risk for investors and leading to the creation of a new market for private investment in renewable energy. 
2. IBRD aids in providing jobs and stability in countries. This step is beneficial in strengthening economic growth. 

Member countries of the International Bank for Reconstruction and Development 

In total, there are 189 member countries of the International Bank for Reconstruction and Development. Following are the names mentioned of the member countries of the International Bank for Reconstruction and Development :

1. Afghanistan
2. Albania
3. Algeria
4. Angola, September
5. Antigua and Barbuda
6. Argentina
7. Armenia
8. Australia
9. Austria
10. Azerbaijan
11. Bahamas
12. Bahrain
13. Bangladesh
14. Barbados
15. Belarus
16. Belgium
17. Belize
18. Benin
19. Bhutan
20. Bolivia
21. Bosnia and Herzegovina
22. Botswana
23. Brazil
24. Brunei Darussalam
25. Bulgaria
26. Burkina Faso
27. Burundi
28. Cabo Verde
29. Cambodia
30. Cameroon
31. Canada
32. The central African Republic
33. Chad
34. Chile
35. China
36. Colombia
37. Comoros
38. Congo, Democratic Republic of
39. Congo, Republic of
40. Costa Rica
41. Cote d’Ivoire
42. Croatia
43. Cyprus
44. Czech Republic
45. Denmark
46. Djibouti
47. Dominica
48. Dominican Republic
49. Ecuador
50. Egypt, the Arab Republic of
51. El Salvador
52. Equatorial Guinea
53. Eritrea
54. Estonia
55. Eswatini
56. Ethiopia
57. Fiji
58. Finland
59. France
60. Gabon
61. The Gambia
62. Georgia
63. Germany 
64. Ghana
65. Greece
66. Grenada
67. Guatemala
68. Guinea
69. Guinea-Bissau
70. Guyana
71. Haiti
72. Honduras
73. Hungary
74. Iceland
75. India
76. Indonesia
77. Iran
78. Iraq
79. Ireland
80. Israel
81. Italy
82. Jamaica
83. Japan
84. Jordan
85. Kazakhstan
86. Kenya
87. Kiribati
88. Korea
89. Kosovo
90. Kuwait
91. Kyrgyz Republic
92. Lao People’s Democratic Republic
93. Latvia
94. Lebanon
95. Lesotho
96. Liberia
97. Libya
98. Lithuania 
99. Luxembourg
100. Madagascar
101. Malawi
102. Malaysia
103. Maldives
104. Mali
105. Malta
106. Marshall Islands
107. Mauritania
108. Mauritius
109. Mexico
110. Micronesia 
111. Moldova
112. Mongolia
113. Montenegro
114. Morocco
115. Mozambique
116. Myanmar 
117. Namibia
118. Nauru
119. Nepal
120. Netherlands
121. New Zealand
122. Nicaragua
123. Niger
124. Nigeria
125. North Macedonia
126. Norway
127. Oman
128. Pakistan
129. Palau
130. Panama
131. Papua New Guinea
132. Paraguay
133. Peru
134. Philippines
135. Poland
136. Portugal
137. Qatar
138. Romania
139. Russian Federation
140. Rwanda
141. Samoa
142. San Marino
143. Sao Tome and Principe
144. Saudi Arabia
145. Senegal
146. Serbia
147. Seychelles
148. Sierra Leone
149. Singapore
150. Slovak Republic
151. Slovenia
152. Solomon Islands
153. Somalia
154. South Africa
155. South Sudan
156. Spain
157. Sri Lanka
158. St. Kitts and Nevis
159. St. Lucia
160. St. Vincent and the Grenadines
161. Sudan
162. Suriname
163. Sweden
164. Switzerland
165. The Syrian Arab Republic
166. Tajikistan
167. Tanzania
168. Thailand
169. Timor-Leste
170. Togo
171. Tonga
172. Trinidad and Tobago
173. Tunisia
174. Turkey
175. Turkmenistan
176. Tuvalu
177. Uganda
178. Ukraine
179. United Arab Emirates
180. United Kingdom
181. United States
182. Uruguay
183. Uzbekistan
184. Vanuatu
185. Venezuela, Republica Bolivariana de
186. Vietnam
187. Yemen
188. Zambia
189. Zimbabwe

Conclusion 

The International Bank for Reconstruction and Development refers to a global development cooperative owned by 189 member countries. It is also known as the World Bank. IBRD was established along with the International Monetary Fund (IMF) to safeguard Europe during World War II. 

The International Bank for Reconstruction and Development lends money to Middle-income as well as low-income countries. 

IBRD provides numerous services which include risk management products, information, and advisory services to governments working at the National level as well as International level.