Established in 1944, the WBG is one of the world's largest sources of funding and knowledge for development solutions. In fiscal year 2015, the WBG committed more than $65 billion in loans, grants, equity investments and guarantees to its members and private businesses, of which more than $20 billion was concessional finance to its poorest members. It is governed by 188 member countries and delivers services out of 120 offices with nearly 15,000 staff located globally.
The WBG consists of five specialized institutions: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for the Settlement of Investment Disputes (ICSID). IBRD and IDA are commonly known as the World Bank, which is organized into six client-facing Regional Vice-Presidencies, several corporate functions, and fourteen Global Practices (GPs) as well as five Cross-Cutting Solution Areas (CCSAs) to bring best-in-class knowledge and solutions to regional and country clients.
GLOBAL PRACTICES & CROSS-CUTTING SOLUTIONS AREAS
The 14 GPs are: Agriculture; Education; Energy and Extractives; Environment and Natural Resources; Finance and Markets; Governance; Health, Nutrition and Population; Macroeconomics and Fiscal Management; Poverty; Social Protection and Labor; Social, Urban, Rural and Resilience; Trade and Competitiveness; Transport and Information, Communication and Technology (ICT); and Water. The 5 CCSAs are: Climate Change; Fragility, Conflict and Violence; Gender; Jobs; and Public-Private Partnerships. The new operating model is part of a broader internal reform aimed at delivering the best of the World Bank Group to our clients, so that together we can achieve the twin goals of (1) ending extreme poverty by 2030, and (2) promote shared prosperity for the bottom 40% of the population in every developing country.
ENVIRONMENT AND NATURAL RESOURCES GLOBAL PRACTICE (GP)
Sustainable environment and natural resources management (ENRM) is at the heart of the WBG's poverty agenda. Biodiversity and natural resources constitute the social safety net of the poor, representing a food bank and often their only source of livelihood. Sustainable ENRM promotes a green, clean, and resilient world where natural resources - from forests to fisheries, freshwater, oceans, coastal zones and ecosystems - are managed to support livelihoods and strong economies.