chapter  30
20 Pages

Photovoltaics in the World Bank Group Portfolio

The World Bank Group comprises the World Bank, the Interna-

tional Finance Corporation (IFC), Multilateral Investment Guarantee

Agency (MIGA) and the International Centre for the Settlement

of Investment Disputes (ICSID). The World Bank comprises two

development institutions owned by 186 member countries: the

International Bank for Reconstruction and Development (IBRD)

and the International Development Association (IDA). The IBRD

aims to reduce poverty in middle-income and creditworthy poorer

countries, while IDA focuses on the world’s poorest countries. IBRD

and IDA funds are lent to governments. The IFC, created in 1956 and

owned by 182 member countries, fosters private sector investment

in developing nations. The World Bank and the IFC have been

the primary supporter of photovoltaic investments in developing

countries within the World Bank Group.