This Annual Report, which covers the period from July 1, 2003, to June 30, 2004, has been prepared by the Executive Directors of both the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) in accordance with the respective bylaws of...

The World Bank group, among the world's largest development institutions, is a major source of financial and technical assistance to developing countries around the world. In fiscal 2009, the World Bank group sponsored 767 projects with a total commitment of $58.8 billion, distributed in...

Over the years, the demand for seamless and inexpensive cross-border payments has grown in parallel with growth in international e-commerce, remittances and tourism. Yet, cross-border payments have not kept pace with the intensive modernization that has characterized domestic payment services...