World Bank Funding
Every year, billions of dollars are lent by the World Bank to the developing countries to progress and combat poverty. Besides this, the Bank also offers loans, technical assistance, credits to government agencies and private institutions. The process of getting funds from the World Bank can vary and depend on a lot many factors.
World Bank funding sources originate from a number of different options. The International Bank for Reconstruction and Development (IBRD), for instance, is one of the institutions of the World Bank and raises most of its funds by selling World Bank bonds to investors. This AAA-rated financial institution has shareholders as sovereign governments. Unlike the commercial banks, its members have a voice in setting the Bank’s policies and the main objective is to promote development rather than just focus only on profits. IDA, or International Development Association is another part of the World Bank and offers interest-free loans to the poorest countries in the world.
World Bank funding also comprises of money contributed from donor member governments who meet every three years to refill the funds. Funding from World Bank will depend a lot on the type and size of opportunities as well s the stage of the project.. The World Bank may hire consultants for the borrowing party during any stage. There are certain formal procedures and evaluation criteria followed to get funding from World Bank. Btu one should expect strong competition.
Every year, World Bank funding lends millions of dollars for projects and business in developing countries to combat poverty. The Bank promises technical assistance apart from loans and credits. It is mainly the non-governmental organizations, academic institutions, companies and individuals from member countries of the World Bank are entitled to fight for these business opportunities and World Bank funding sources.
Before concluding, it is important to mention that two new financial initiatives were announced by the World Bank– the third tranche of the BioCarbon Fund and the Carbon Initiative for Development. The mission is to help the least-developed countries to get access to finance for low-carbon investments and help them tap into carbon markets after 2012.