The International Bank for Reconstruction and Development (IBRD the acronym English, French BIRD) began its operations June 25, 1946 and grants, May 9, 1947, in France its first loan ($ 250 million for reconstruction postwar; loan, to date, remains the highest in real terms, never granted by the bank).
The World Bank was created primarily as a vehicle for the reconstruction of Europe and Japan after the Second World War, with the additional objective of encouraging economic growth of developing countries in Africa, Asia and Latin America. Initially the Bank's lending has been directed mainly on large infrastructure projects in transport (construction of highways and airports) and in energy (electrical). With the achievement of adequate levels of economic growth and per capita income in Europe and Japan the Bank's operations were gradually, focused exclusively on developing countries. Since the nineties, IBRD has participated in the financing (in coordination with other international financial institutions such as the European Bank for Reconstruction and Development) countries in the reconstruction of Eastern European and former Soviet Union.
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