definitions International Bank for Reconstruction & Development

International Bank for Reconstruction & Development

The largest of the five institutions that comprise the World bank Group, IBRD provides loans and development assistance to middle-income countries and creditworthy poorer countries. An international organization created at Breton Woods in 1944 to help in the reconstruction and development of its member nations. Known as the World Bank, the IBRD is owned by its member nations and makes loans at nearly conventional terms to countries for projects of high economic priority.