Results and Performance of the World Bank Group 2013
The global extreme poverty rate has fallen by half since 1990, but inequality has increased. Robust progress on both poverty reduction and shared prosperity will require sustained growth in developing countries in the face of major financial, economic, and environmental risks and uncertainties. Lending by the International Bank for Reconstruction and Development (IBRD) has fallen back to pre-crisis trend levels. In FY13, for the first time ever, International Development Association (IDA) commitments exceeded IBRD commitments. Investments by the International Finance Corporation (IFC) reached historically high levels in FY13, driven by rapid growth of short-term finance. Commitments by the Multilateral Investment Guarantee Agency (MIGA) rose on the heels of a new instrument covering risks of the non-honoring of sovereign financial obligations.
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