Definition Of Development By World Bank

The world bank group s twin goals the sdgs and the 2030 development agenda.

Definition of development by world bank. The world bank provides financing and services to low and middle income countries to support development and change. The world bank supplies qualifying governments with low interest loans zero interest credits and grants all for the purpose of supporting the development of individual economies. According to this world bank classification. Dec is the premier research and data arm of the world bank.

These contrasting trends highlight both the problems and the progress associated with the process of development. Dec s main business lines are development data development research global indicators and knowledge management. A multilateral development bank mdb is an international financial institution chartered by two or more countries for the purpose of encouraging economic development in poorer nations. The world bank group has a treaty based relationship with the united nations un that dates back to its founding and through that relationship works to build a partnership that supports member states and contributes to effective development outcomes while preserving the distinct mandates of each institution.

For example the world bank estimates that from 1981 2005 the percentage of people living on less than 1 per day was halved decreasing from 52 percent to 26 percent during this period chen ravallion 2008. The world bank classifies different countries of the world on the basis gni per capita representing their development status. The development economics vice presidency dec increases understanding of development policies and programs by providing intellectual leadership and analytical services to the bank and the development community. The project cycle is the.

Headquartered in washington d c the bank is the largest source of financial assistance to developing countries.