k is made up of two lending agencies; these are the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). It is these two lending arms that the World Bank promotes as providing low-interest loans, interest-free credit, and grants to developing countries.
             The world's low-income countries are generally the recipients of the World Banks loans. It is these countries who have difficulty borrowing on international markets or can only do so at high interest rates. In addition to direct contributions and loans from developed countries, these countries receive grants, interest-free loans, and technical assistance from the World Bank to enable them to provide basic services. In the case of the loans, countries have 35-40 years to repay, with a 10-year grace period (World Bank, 03).
             There are three other branches of the World Bank each with a different role in providing financial capital to developing nations. The International Finance Corporation (IFC) promotes private sector investment by supporting high-risk sectors and countries. The Multilateral Investment Guarantee Agency (MIGA) provides political risk insurance (guarantees) to investors in and lenders to developing countries. And the International Centre for Settlement of Investment Disputes (ICSID) settles investment disputes between foreign investors and their host countries (World Bank, 03).
             ...