World Bank Group:

World Bank Group logo, photo courtesy of

by Alliya Dulaney

The mission of the World Bank Group as stated by its website is to end poverty by reducing the population to 3% by 2030 and to promote shared prosperity by increasing the income of the poorest 40% of people in every country. The World Bank Group consists of five distinct organizations that work together in reaching its ultimate goal:

International Bank for Reconstruction and Development (IBRD)

International Development Association (IDA)

International Finance Corporation (IFC)

Multilateral Investment Guarantee Agency (MIGA) 

International Centre for Settlement of Investment Disputes (ICSID)

While IFC is a part of the World Bank Group, it is also its own legal entity with separate structures, agreements and management, as stated on its website.