Write A Note On IBRD?

The World Bank Group consists of the International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), and International Finance Corporation (IFC). Their main objective is to boost up the economy of the third world countries and sustain private investment for development.
The main objective of the formation of the World Bank was to eliminate the effects of the calamities wreaked by the World War II, and reconstruct Europe. On July 1, 1944 the US with the help of the UK and UNO invited 44 countries at Pertain Woods, a city of an American state, New Hampshire, to attend a meeting of 'United Nations Monetary and Financial Conference'.  The conference prepared the bylaws and articles of the World Bank and International Monetary Fund (IMF), and thus, both the international institutions came into being. The conference was not attended by the U. S. S. R. and Liberia. It must be noted that to get a membership of the World Bank a country must first become a member of the IMF.
The World Bank requires that the loans except those to the member governors must be guaranteed by the member government concerned. It provides loan capital and does not invest in shares. It finances foreign exchange requirements for certain projects. It does not provide loans for local expenditure or working capital. The bank finances large public projects. It finances small projects in the private sector only through the development of banks.