The World Bank, a member of the World Bank Group, is a vital source of financial and technical assistance to developing countries around the world. It’s mission is to fight poverty with passion and professionalism for lasting results and to help people help themselves and their environment by providing resources, sharing knowledge, building capacity and forging partnerships in the public and private sectors.
Its made up of two unique development institutions owned by 189 member countries:
- The International Bank for Reconstruction and Development (IBRD) which aims to reduce poverty in middle-income and creditworthy poorer countries
- The International Development Association (IDA) focuses on the world's poorest countries.
Each institution plays a different but collaborative role in advancing the vision of inclusive and sustainable globalization. Their work is complemented by that of the International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA) and the International Centre for the Settlement of Investment Disputes (ICSID). Together, they provide low-interest loans, interest-free credits and grants to developing countries for a wide array of purposes that include investments in education, health, public administration, infrastructure, financial and private sector development, agriculture and environmental and natural resource management.
Regional Seas and World Bank
- South Asia Co-operative Environment Programme (SACEP) - Plastic free Rivers and Seas for South Asia Project – SACEP, World Bank and Parley for the Oceans are collaborating to formulate and implement a regional project on ‘Plastic free Rivers and Seas for South Asia’. The project will be implemented over a period of five years.
- The Permanent Commission for the South Pacific - CPPS has executed regional project in collaboration with world bank
- Abidjan Convention - West Africa Coastal Areas Resilience Investment Project for Climate Change Adaptation (WACA ResIP-CCA) in partnership with World Bank
- PERSGA has executed several regional projects in collaboration with world bank and other organizations. The Strategic Action Program (SAP) for RSGA project, conducted during 2000-2004 in collaboration with UNEP, UNDP and World Bank; the Strategic Ecosystem Management Project (SEM), conducted during 2014-2018 in collaboration with the World Bank.
- The Cartagena Convention Secretariat co-authored World Bank report on Marine Pollution in the Caribbean: Not a Minute to Waste (2019).
- The World Bank, and other organizations have continued to contribute to further development and effective implementation of the Tehran Convention and its Protocols and programmes.
- Other regional seas Conventions which have established close working relations and collaboration with world bank include SACEP,
Please visit their website: https://www.worldbank.org
