IBRD mainly provides medium and long-term loans to developing countries, and the loan interest rate is lower than the market interest rate.
The International Development Association provides long-term interest-free loans to low-income developing countries;
IFC is responsible for providing loans or direct equity investments to the private sector in developing countries.
These three organizations are all financial institutions. Although their specific tasks are different, their ultimate goal is to help developing countries in member countries improve their productivity and promote economic development and social progress by providing funds and technical assistance.
The Multilateral Investment Guarantee Agency (MIGA) is a non-financial institution, which aims to help developing countries create a good soft investment environment, so as to attract foreign investment more effectively and promote their own economic development. Its main business is to provide non-commercial risk guarantee and investment promotion consulting services for foreign investors in developing countries.
The International Centre for Settlement of Investment Disputes is also a non-financial institution, which mainly promotes the settlement of disputes between governments and foreign investors through mediation and arbitration, so as to encourage more international investment to flow to developing member countries.
Overview of world bank loan business
According to the purpose of loans and their links with investment and organizations, World Bank loans can be roughly divided into the following categories:
1. specific investment loans, that is, project loans in the usual sense.
2. departmental loans. Department loans can usually be divided into:
(1) department investment loan;
(2) Loans from intermediary financial institutions are actually project loans through intermediary financial institutions;
(3) The department (policy) adjusts the loan.
3. Structural adjustment loans.
4. Technical assistance loans.
5. Emergency recovery of loans.
Specific investment loans in the above classification and loans from intermediate financial institutions in departmental loans belong to what people usually call project loans, while other types of loans are basically non-project loans.
Project loans, that is, loans directly invested in specific construction projects. Among all these loan types of the World Bank, the most important loan form, that is, the largest proportion and business volume, has the greatest influence and function, and is the project loan.
The project lending institution * * * has some characteristics, such as long loan period (20 years for hard loans and 35-40 years for soft loans), favorable interest rate conditions (the floating interest rate of hard loans changes every six months, and the soft loans only charge 0.75% handling fee according to the financing cost of the World Bank plus 0.5% spread), and the risk of loans is borne by the borrower. For specific projects, they also have the following characteristics.
1. The loan project preparation time is relatively long (about 1-2 years). The World Bank needs to conduct a comprehensive and detailed investigation and evaluation of each project that uses its project loans from the technical and economic aspects to determine the priority and feasibility of the project in the economic development of the borrowing country.
2. The loan amount provided by the World Bank for a project shall be determined according to 50% of the foreign exchange funds required for the project or the total investment of the project. Under normal circumstances, the World Bank only provides the foreign exchange funds needed by the project, accounting for about 35-50% of the total investment of the project, and in some cases it can reach 75%.
3. Strict procedures and strict management. When the World Bank provides project loans, it takes a complete cycle from the initial proposal and preparation of the project to the completion of the loan and the completion of the project construction. In this complicated and long process, both the World Bank and the project units need to invest a lot of manpower in engineering construction, fund allocation, bidding and procurement, supervision and inspection and other management activities, but the loan investment and project construction have also received good results.
4. The use of funds shall be reimbursed or paid in advance. When the World Bank provides loans for each project, it does not pay all the loan funds to the borrower at one time. Instead, after the loan agreement is signed, the loan is recorded as the promised amount in the borrower's name. Then, with the progress of the project construction, the borrowers apply for withdrawal one by one, and the World Bank will pay it directly to the suppliers or contractors or to the borrowers to repay the project funds advanced by them until the project is completed. Therefore, generally speaking, the withdrawal of a project loan will last for 5 to 7 years, and the short one will take about 4 years. During this period, the World Bank will charge a certain commitment fee for the loans that have been promised but have not been recovered.
5. The equipment procurement, civil engineering and construction of World Bank loan projects and the employment of consulting experts shall be conducted by international competitive bidding and other relevant prescribed procedures in accordance with the relevant procurement guidelines of the World Bank.
6. The World Bank's project loans not only provide construction funds for projects, but also help borrowing countries to introduce advanced technologies and improve the management of projects and institutions by providing consulting and training.
One of the most important characteristics of World Bank loans is actually the most basic principle of World Bank loans: loans must be used to promote the economic development and social progress of borrowing countries. Its loan investment should be the most priority and development sector in a country's national economy. According to this purpose and principle, the World Bank's project loans mainly focus on infrastructure (energy, transportation), agriculture and social development (education, health, etc.). ) and industrial development. By providing loans to specific investment targets in these sectors, the World Bank has formed specific loan projects.
The so-called project generally refers to a fixed investment goal or scope that can form a fixed asset or facility through investment activities and generate benefits after the formation of the fixed asset or facility, or an investment activity to achieve a goal that can generate social and economic benefits. The World Bank loan project refers to the fixed investment goal of combining the World Bank loan funds with domestic funds for investment.
Every project loan issued by the World Bank has to go through a complete and complicated procedure and a periodic process from the beginning to the end, which is what we often call the project cycle. The project cycle of World Bank loan includes six stages: project selection (or evaluation), project preparation, project evaluation, project negotiation, project implementation and supervision, and project summary and evaluation. Each stage leads to the next stage, which lays the foundation for the next stage, and the next stage is closely linked with the previous stage, which deepens the work of the previous stage and supplements the shortcomings of the previous stage. The last stage also produces discussions and ideas on new projects, and then provides reference and information for selecting new projects. In this way, the cycle of the project has formed a complete cycle, cycle after cycle.
Member States of the International Bank for Reconstruction and Development
International Bank for Reconstruction and Development (IBRD)
Date of accession of member States
Afghanistan1955 July 14
Albania 199 1 year1October15th.
Algeria126 September 963
Angola 1989
Antigua and Barbuda 65438+September 22nd, 0983
Argentina 65438+September 20th, 0956
Armenia 1992
Australia 65438+5 August 0947
Austria1948 August 27th
Azerbaijan 1992
Bahamas1973 August 2 1
Bahrain1972 September 15
Bangladesh 1972
Barbados 1974
Belarus1992 July 10
Belgium1945 65438+February 27th.
Belize 1982 March19
Benin1963 July 10
Bhutan198128 September
Bolivia1945 65438+February 27th.
Bosnia and Herzegovina1February 25, 993
Botswana 65438+July 24th, 0968
Brazil 1946 65438+ 10/4
Brunei Darussalam 1995 10
Bulgaria 65438+September 25th, 0990
Burkina Faso1May 2, 963
Burundi128 September 963
Cambodia1July 22, 970
Cameroon1963 July 10
Canada1945 65438+February 27th.
Cape Verde19781654381October 20th.
Central African Republic1963 July 10
Chad1963 July 10
Chile1945 65438+February 3 1
China1945 65438+February 27th.
Colombia1946 65438+February 24th.
Comoros1976101October 28th.
Democratic Republic of Congo128 September 963
Congo * * * People's Republic of China (PRC) 1063 July10
Costa Rica1946 65438+1October 8th.
C? te d 'Ivoire 1963
Croatia 65438+25 February 0993
Cyprus 196 1 year 65438+February 2 1 day
Czech Republic 1993 65438+ 10/0/.
Denmark1946 March 30th
Djibouti 1 980 65438+1October1
Dominica129 September 980
Dominican Republic * * *1945 65438+February 28th.
East Timor 23 July 2002
Ecuador1945 65438+February 28th
Egypt1945 65438+February 27th.
El Salvador1946 March 14
Equatorial Guinea 1 970 July1
Eritrea 65438+6 July 0994
Estonia123 June 992
Ethiopia1945 65438+February 27th.
Fiji197128 May
Finland19481October 14
France1945 65438+February 27th.
Gabon 1963
Gambia 10/8
Georgia1August 7, 992
Germany1952 August 14
Ghana120 September 957
Greece1945 65438+February 27th.
Grenada127 August 975
Guatemala1945 65438+February 28th.
Guinea128 September 963
Guinea-Bissau124 March 977
Guyana126 September 966
Haiti1September 8, 953
Honduras1945 65438+February 27th.
Hungary1982 July 7
Iceland1945 65438+February 27th
India1945 65438+February 27th.
Indonesia 1954
Iran (Islamic Republic of)1945 65438+29 February
Iraq1945 65438+February 27th.
Ireland1957 August 8
Israel1954 July 12
Italy1947 March 27th
Jamaica 1963
Japan1952 August 13
Jordan129 August 952
Kazakhstan1July 23, 992
Kenya1February 3, 964
Kiribati129 September 986
Korea1August 26, 955
Kuwait1962 September 13
Kyrgyz Republic 1992
Lao People's Democratic Republic1961July 5
Latvia 1992
Lebanon 1947
Lesotho 65438+July 25th, 0968
Liberia1March 28, 962
Libya 1958
Lithuania1992 July 6
Luxembourg1945 65438+February 27th.
The former Yugoslav Republic of Macedonia125 February 993
Madagascar125 September 963
Malawi 1965 July19
Malaysia1March 7, 958
Maldives 1978 65438+ 10/3.
Mali 65438+September 27th, 0963
Malta 65438+September 26th 0983
Marshall Islands1992 May 2 1
Mauritania 1963
Mauritius 65438+September 23rd 0968
Mexico1945 65438+February 3 1
Micronesia (Federated States of)1June 24, 993
Moldova1992 August 12
Mongolia1991February 14
Morocco 65438+April 25th, 0958
Mozambique 65438+September 24th, 0984
Myanmar1952 65438+1October 3rd
Namibia 65438+September 25th, 0990
Nepal19616 September
Netherlands1945 65438+February 27th.
New Zealand1961August 3 1
Nicaragua 1946
Niger 65438+April 24th, 0963
Nigeria1961March 30th
Norway1945 65438+February 27th
Oman 197 1 year 65438+February 23rd.
Pakistan1950 July 1 1
Palau 1997 12 16
Panama 1946
Papua New Guinea1October 9
Paraguay1945 65438+February 28th
Peru1945 65438+February 3 1
Philippines1945 65438+February 27th.
Poland 1946 65438+ October 10
Portugal1961March 29th
Qatar 65438+September 25th, 0972
Romania 1972 12 15
Russia1992 June 16
Rwanda 65438+September 30 0963
Samoa128 June 974
San Marino September 2, 20001
Sao Tome and Principe 65438+September 30 0977
Saudi Arabia1957 August 26th
Senegal1962 August 3 1
Seychelles 65438+September 29th, 0980
Sierra Leone1962 September 10
Singapore1August 3, 966
Slovakia * * * Republic of China 1 99365438+1October1.
Slovenia1February 25, 993
Solomon Islands 65438+September 22nd 0978
Somalia1962 August 3 1
South Africa1945 65438+February 27th.
Spain 1958
Sri Lanka 65438+August 29th, 0950
Saint Kitts and Nevis1984 August 15
Saint Lucia127 June 980
Saint Vincent and the Grenadines1982 August 3 1
Sudan1September 5, 957
Suriname127 June 978
Swaziland122 September 969
Sweden1951August 3 1
Switzerland129 May 992
Syrian Arab Republic1947 April 10
Tajikistan1June 4, 993
Tanzania1962 September 10
Thailand1May 3, 949
Togo 1962
Tonga1985 September 13
Trinidad and Tobago
Tunisia 1958
Turkey 1947
Turkmenistan1September 22, 992
Uganda 65438+September 27th, 0963
Ukraine1September 3, 992
United Arab Emirates122 September 972
UK1945 65438+February 27th.
USA1945 65438+February 27th.
Uruguay 1946
Uzbekistan 1992
Vanuatu198128 September
Venezuela1946 65438+30 February.
Vietnam 1956
Yemen * * * Republic1969101October 3rd.
Federal Republic of Yugoslavia1February 25, 993
Zambia 65438+September 23rd, 0965
Zimbabwe1September 29, 980
184