The Annual Report is prepared by the Executive Directors of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA)—collectively known as the World Bank—in accordance with the by-laws of the two institutions. The President of the...

International Finance Corporation (IFC or the Corporation) is the largest global development institution focused on the private sector in developing countries. Established in 1956, IFC is owned by 184 member countries, a group that collectively determines its policies. IFC is a member of the...

Building and operating successful public institutions is a perennial and long-term challenge for governments, which is compounded by the volatile conditions found in fragile settings. Yet some government agencies do manage to take root and achieve success in delivering results earning legitimacy...

In 2014, the World Bank Group adopted a joint strategy for dealing with impediments to ending extreme poverty and boosting shared prosperity. One of the strategy’s key elements underscores the essential role private sector investment can play working alongside public sector support to bear...

International Finance Corporation (IFC or the Corporation) is the largest global development institution focused on the private sector in developing countries. Established in 1956, IFC is owned by 184 member countries, a group that collectively determines its policies. IFC is a member of the...

This paper examines the association between the default risk of foreign bank subsidiaries and their parents during the global financial crisis, with the purpose of understanding what factors can help insulate affiliates from their parents. The paper finds evidence of a significant positive...