The World Bank is an international financial institution that provides loans to countries of the world for capital projects. It comprises two institutions:
- The International Bank for Reconstruction and Development (IBRD), and
- The International Development Association (IDA).
The World Bank’s stated goal is the reduction of poverty which its Articles of Agreement define as commitments to the promotion of foreign investment and international trade and to the facilitation of capital investment.
A Loan Agreement for IBRD credit of US$ 125 (equivalent) for the “Innovate in India for Inclusiveness Project”