ABSTRACT
The World Bank includes the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). IBRD was established on 27 December 1945 when representatives of 28 countries signed the Articles of Agreement which had been drawn up at the Bretton Woods Conference in July 1944. IBRD and IDA are both UN specialized agencies. In the fiscal year 1997 the World Bank was involved with 166 environmental projects to assist developing countries in three broad areas: pollution control and protection of the urban environment; natural resource management and protection of the rural environment; and institution building. The World Bank finances infrastructure facilities such as roads, railways, and power facilities as well as small-scale projects such as providing credits to micro-entrepreneurs and farmers. The approved administrative budget for the World Bank was $1,420.3 million in 1995, $1,424.2 million in 1996, and $1,374.7 million in 1997, and is $1,423.9 million in 1998.
