The World Bank Group (WBG) is one of the world’s largest sources of funding and knowledge for developing countries, consisting of five institutions with a common commitment to reducing poverty, increasing shared prosperity, and promoting sustainable development. Switzerland is reprensented by a Director in the Board of Directors.
Switzerland is an active member in the governing bodies of the WBG and carries out development projects together with the Bank.
The World Bank Group consists of the five following institutions:
- 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)
In the framework of the Agenda 2030 for a sustainable development, the WBG has set two goals:
- End extreme poverty by decreasing the percentage of people living on less than US$1.90 a day to no more than 3 percent; and
- Promote shared prosperity by fostering the income growth of the bottom 40 percent for every country.