The “World Bank” is the name that has come to be used for the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). Together these organisations provide low interest loans, interest free credit, and grants to developing countries. The World Bank, therefore, is not a “bank” in the usual sense, but is one of the United Nations’ specialised agencies, with 184 member countries. Irish Aid maintains a number of Trust Funds at the World Bank. These are the Consultancy Trust Fund (CTF) and the Technical Assistance Trust Fund (TATF). These trust funds are used to provide technical assistance and consultancies in a wide range of sectors in developing countries. We also provide funds to the Foreign Investment Advisory Service (FIAS), focussed on attracting FDI to developing countries, and collaborate with the WB’s Education Trust Fund work in Africa. Irish Aid is one of the co-financers of the World Bank Institute, the WB’s training and human resource development agency for developing countries.
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