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Generate QuizThe International Bank for Reconstruction and Development (IBRD), the original institution of the World Bank Group, primarily lends to ___ countries.
- middle-income (and creditworthy low-income)
- Population
- employment elasticity (or labor market)
- government spending (or autonomous expenditure)
Answer: middle-income (and creditworthy low-income)
The IBRD raises funds on international capital markets by issuing AAA-rated bonds and lends to middle-income and creditworthy poorer countries for specific development projects. The poorest nations, who cannot afford IBRD rates, rely on the concessional loans from the International Development Association (IDA).