Treasury

<!DOCTYPE html> <html lang="en"> <head> <meta http-equiv="X-UA-Compatible" content="IE=edge" /> <script defer="defer" type="text/javascript" src="https://rum.hlx.page/.rum/@adobe/helix-rum-js@%5E2/dist/rum-standalone.js" data-routing="env=prod,tier=publish,ams=World Bank"></script> <link rel="shortcut icon" href="/content/dam/wbr-redesign/logos/wbg-favicon.png" type="image/png"/> <meta name="viewport" content="width=device-width"/> <meta charset="utf-8" /> <title>Treasury</title> <meta name="keywords" content="Treasury, Capital Markets"/> <meta name="description" content="The World Bank is a supranational issuer of triple-A bonds supporting sustainable development around the world"/> <meta name="language" content="en"/> <meta property="og:title" content="Treasury"/> <meta property="og:site_name" content="World Bank"/> <meta property="og:description" content="The World Bank is a supranational issuer of triple-A bonds supporting sustainable development around the world"/> <meta property="og:type" content="article"/> <meta property="og:test" content="https://www.worldbank.org/content/dam/wbr/share-logo/social-share.jpg"/> <meta property="og:image:type" content="image/jpg" /> <meta property="og:image:width" content="1200" /> <meta property="og:image:height" content="630" /> <meta property="og:image" content="https://www.worldbank.org/content/dam/wbr/share-logo/social-share.jpg"/> <meta property="og:url" content="https://treasury.worldbank.org/en/about/unit/treasury"/> <meta name="twitter:card" content="summary"/> <meta name="twitter:site" content="World Bank"/> <meta name="twitter:title" content="Treasury"/> <meta name="twitter:description" content="The World Bank is a supranational issuer of triple-A bonds supporting sustainable development around the world"/> <meta name="twitter:image:src" content="https://www.worldbank.org/content/dam/wbr/share-logo/social-share.jpg"/> <meta name="dcterms.title" content="Treasury" /> <meta name="dcterms.type" content="Text/HTML" /> <meta name="dcterms.identifier" content="https://treasury.worldbank.org/en/about/unit/treasury"/> <meta name="dcterms.language" content="en" /> <link rel="canonical" href='https://treasury.worldbank.org/en/about/unit/treasury'/> <link rel="stylesheet" href="/etc/designs/wbrrdesign/clientlibs-wbrredsign.css" type="text/css"> <link rel="stylesheet" href="/etc/designs/wbrrdesign/clientlibs-wbrredsign/css/loop-icon.css" type="text/css"> <link href="//fonts.googleapis.com/css?family=Open+Sans:300,300i,400,400i,600,600i,700,700i,800,800i&subset=cyrillic,cyrillic-ext,greek,greek-ext,latin-ext,vietnamese" rel='stylesheet' type='text/css'/> <link href="/etc/designs/wbrrdesign/clientlibs-wbrredsign/css/print.css" rel='stylesheet' type='text/css' media="print"> <script src="/etc/designs/wbrrdesign/clientlibs-wbrredsign/js/jquery-3.6.0.min.js"></script> <script src="/etc/designs/wbr/components/wbgajax.js"></script> <script src="//assets.adobedtm.com/223f6e2cf7c9/3eb6c9b72a93/launch-7bc0cdc67098.min.js" async></script> </head> <body> <div id="wbg-aem-target" class="wbg-aem-target"></div> <input type="hidden" name="wcmmode" class="WCMmode" value="DISABLED"> <div data-ajax-component-wbg data-url="/wbg/aem/service/liveeventservicespring" data-ajax-query-parameters='language=en&pageName=/wb-home/en/about/unit/treasury' ></div> <link href="/etc/designs/wbr/clientlibs/css/home-banner.css" type="text/css" rel="stylesheet"> <script> function wb_survey_yes(url) { wb_note_setcookie('wb_note','1',1); $('#survey').hide(); window.open(url,'_blank'); } function wb_note_setcookie(cname, cvalue, exdays) { var d = new Date(); d.setTime(d.getTime() + (exdays*24*60*60*1000)); var expires = "expires="+d.toUTCString(); document.cookie = cname + "=" + cvalue + "; " + expires; } function wb_close() { document.getElementById('wb_banner').style.display = 'none'; wb_banner_setcookie("wb_banner","1",1); }; </script> <script>jQuery(document).ready(function($) { var wb_note = document.cookie.replace(/(?:(?:^|.*;\s*)wb_note\s*\=\s*([^;]*).*$)|^.*$/, '$1'); if(wb_note != 1) { $("#banner").show(); $('.delete_icon a').click(function() { wb_note_setcookie('wb_note','1',1); $('#banner').hide(); }); } });</script> <header> <a tabindex="0" id="skip-to-main-content" class="visually-hidden focusable" href="#main">Skip to Main Navigation</a> <div class="lp__navbar lp__navbar_default "> <div class="container"> <div class="nav-wrapper"> <nav id="nav" aria-expanded="false"> <div class="nav-hamburger" title="Hamburger"><button type="button" aria-controls="nav" aria-label="Open navigation" data-toggle="collapse" data-target="#menuItems" aria-expanded="false" aria-controls="menuItems"><span class="nav-hamburger-icon collapsed"></span></button> </div> <div class="section nav-brand" data-section-status="loaded" style=""> <div class="default-content-wrapper"><a class="dropdown-item" href="https://www.worldbank.org/ext/en/home" title="World Bank Logo"> <picture> <source type="image/webp" srcset="https://www.worldbank.org/ext/en/media_1b9d836624bdfd028dfbe9f018f3f12e52326504c.svg?width=2000&format=webply&optimize=medium" media="(min-width: 600px)"> <source type="image/webp" srcset="https://www.worldbank.org/ext/en/media_1b9d836624bdfd028dfbe9f018f3f12e52326504c.svg?width=750&format=webply&optimize=medium"> <source type="image/svg+xml" srcset="https://www.worldbank.org/ext/en/media_1b9d836624bdfd028dfbe9f018f3f12e52326504c.svg?width=2000&format=svg&optimize=medium" media="(min-width: 600px)"> <img loading="lazy" alt="World Bank Logo" src="https://www.worldbank.org/ext/en/media_1b9d836624bdfd028dfbe9f018f3f12e52326504c.svg?width=750&format=svg&optimize=medium" width="220" height="44"> </picture> </a></div> </div> <div class="section nav-sections" data-section-status="loaded" style=""> <div class="default-content-wrapper"> <p class="auto-image-container"> <picture> <source type="image/webp" srcset="https://www.worldbank.org/ext/en/media_1309e5a58406d881f447945ab01ce4f6ceea52c3b.svg?width=2000&format=webply&optimize=medium" media="(min-width: 600px)"> <source type="image/webp" srcset="https://www.worldbank.org/ext/en/media_1309e5a58406d881f447945ab01ce4f6ceea52c3b.svg?width=750&format=webply&optimize=medium"> <source type="image/svg+xml" srcset="https://www.worldbank.org/ext/en/media_1309e5a58406d881f447945ab01ce4f6ceea52c3b.svg?width=2000&format=svg&optimize=medium" media="(min-width: 600px)"> <img loading="lazy" alt="Trending" src="https://www.worldbank.org/ext/en/media_1309e5a58406d881f447945ab01ce4f6ceea52c3b.svg?width=750&format=svg&optimize=medium" width="15" height="11"> </picture> </p><a class="dropdown-item" href="https://www.worldbank.org/en/topic/health/overview" target="_blank"> <p><span>Trending Data</span><span>Non-communicable diseases cause 70% of global deaths</span></p> </a> </div> <div class="nav-menu-overlay collapse" id="menuItems"> <div class="nav-menu " aria-hidden="true"> <div class="nav-menu-column left" style="display: flex;"> <ul role="menu"> <li tabindex="0" aria-expanded="true" class="selected"><span textcontent=""></span><a href="/ext/en/who-we-are">Who We Are</a></li> <li tabindex="0" aria-expanded="false"> <span textcontent=""></span><a href="https://www.worldbank.org/en/what-we-do">What We Do</a></li> <li tabindex="0" aria-expanded="false"> <span textcontent=""></span><a href="https://www.worldbank.org/en/where-we-work">Where We Work</a></li> <li tabindex="0" aria-expanded="false"> <span textcontent=""></span><a href="https://www.worldbank.org/en/understanding-poverty">How We Work</a></li> <li tabindex="0" aria-expanded="false"> <span textcontent=""></span><a href="https://www.worldbank.org/en/work-with-us">Work With Us</a></li> <li tabindex="0" aria-expanded="false"> <span textcontent=""></span><a href="https://www.worldbank.org/en/news">News</a> </li> </ul> </div> <div class="nav-menu-column right" style="display: flex;"><button class="nav-menu-overlay-back" aria-label="go back" style="display: none;"></button> <p class="submenu-main-title" style="display: none;"><a></a></p> <ul id="submenu_0" class="submenu active" style="display: flex;" > <li class="" role="link">About the World Bank Group<ul> <li class=""><a href="https://www.worldbank.org/en/about/leadership">Organization<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/about/partners">Partners<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/archive/history">History<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/archive/home">Archives<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/news/statement/2021/11/11/world-bank-group-anti-racism-charter">Anti Racism Charter<span></span></a> </li> </ul> </li> <li class="" role="link">Experts & Leaders<ul> <li class=""><a href="https://president.worldbankgroup.org/en/president">Office of the President<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/about/leadership/governors">Boards of Governors<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/about/leadership/directors">Board of Directors <span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/about/leadership/managers">Leadership<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/about/people/all">Experts <span></span></a> </li> </ul> </li> <li class="" role="link">Accountability <ul> <li class=""><a href="https://www.worldbank.org/en/about/annual-report">Annual Report<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/who-we-are/betterbank">Better Bank Initiative<span></span></a></li> <li class=""><a href="https://www.worldbank.org/en/access-to-information">Access to Information<span></span></a> </li> <li class=""><a href="https://accountability.worldbank.org/en/home">Accountability Mechanism<span></span></a> </li> <li class=""><a href="https://scorecard.worldbank.org/en/scorecard/home">World Bank Group Scorecard<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/programs/accountability/data-privacy">Data Privacy <span></span></a> </li> <li class=""><a href="https://financesapp.worldbank.org/summaries/ibrd-ida/#ibrd-net/">World Bank Group Finances<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/about/unit/integrity-vice-presidency">Integrity Vice Presidency <span></span></a> </li> <li class=""><a href="https://www.inspectionpanel.org/">Inspection Panel <span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/projects-operations/products-and-services/grievance-redress-service">Grievance Redress Service <span></span></a> </li> <li class=""><a href="https://ieg.worldbankgroup.org/">Independent Evaluation Group <span></span></a> </li> <li class=""><a href="https://www.cao-ombudsman.org/">Compliance Advisor Ombudsman <span></span></a> </li> <li class=""><a href="https://policies.worldbank.org/en/policies?k=General%20Conditions%20for%20IBRD&type=published">Policies & Procedures <span></span></a> </li> </ul> </li> <li class="footer" role="link"> Institutions<ul> <li class=""><a href="https://www.worldbank.org/en/who-we-are/ibrd">IBRD<span></span></a> </li> <li class=""><a href="https://ida.worldbank.org/">IDA<span></span></a> </li> <li class=""><a href="https://www.ifc.org/">IFC<span></span></a> </li> <li class=""><a href="https://www.miga.org/">MIGA<span></span></a> </li> <li class=""><a href="https://icsid.worldbank.org/">ICSID<span></span></a> </li> </ul> </li> </ul> <ul id="submenu_1" class="submenu" style="display: none;" > <li class="" role="link">Development Projects<ul> <li class=""><a href="https://projects.worldbank.org/en/projects-operations/projects-home?lang=en">Projects<span></span></a> <ul> <li class=""> <a href="https://projects.worldbank.org/en/projects-operations/project-country">By Country<span></span></a> </li> <li class=""> <a href="https://projects.worldbank.org/en/projects-operations/project-sector">By Sector<span></span></a> </li> <li class=""> <a href="https://projects.worldbank.org/en/projects-operations/project-theme">By Theme<span></span></a> </li> </ul> </li> <li class=""><a href="https://www.worldbank.org/en/projects-operations/country-strategies">Country Engagement <span></span></a> <ul> <li class=""> <a href="https://www.worldbank.org/en/projects-operations/environmental-and-social-policies">Environmental & Social Policies for Projects <span></span></a> </li> <li class=""> <a href="https://www.worldbank.org/en/projects-operations/products-and-services1/Suppliers-Hub">Procurement for Projects & Programs<span></span></a> </li> </ul> </li> <li class=""><a href="https://www.worldbank.org/en/results">Results <span></span></a> </li> </ul> </li> <li class="" role="link">Products & Services<ul> <li class=""><a href="https://www.worldbank.org/en/what-we-do/products-and-services">Financing Products & Advisory Services<span></span></a> </li> <li class=""><a href="https://treasury.worldbank.org/en/about/unit/treasury">Treasury <span></span></a> </li> <li class=""><a href="https://treasury.worldbank.org/en/about/unit/treasury/asset-management">Asset Management <span></span></a> </li> </ul> </li> <li class="" role="link">KNOWLEDGE <ul> <li class=""><a href="https://academy.worldbank.org/en/home">World Bank Group Academy <span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/research">Research & Publications <span></span></a> </li> <li class=""><a href="https://data.worldbank.org/">Data<span></span></a> </li> <li class=""><a href="https://wbg.edcast.com/">Learning <span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/topic">Development Topics<span></span></a> </li> <li class=""><a href="https://openknowledge.worldbank.org/home">Open Knowledge Repository <span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/programs/trust-funds-and-programs">Trust Fund Directory <span></span></a> </li> </ul> </li> </ul> <ul id="submenu_2" class="submenu" style="display: none;" > <li class="" role="link">Regions<ul> <li class=""><a href="https://www.worldbank.org/en/region/afr">Africa<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/region/eap">East Asia and Pacific<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/region/eca">Europe & Central Asia<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/region/lac">Latin America & Caribbean <span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/region/mena">Middle East & North Africa<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/region/sar">South Asia<span></span></a> </li> </ul> </li> <li class="" role="link">Country Groups <ul> <li class=""><a href="https://www.worldbank.org/en/where-we-work/eu">European Union<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/country/mic">Middle Income Countries<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/country/caribbean">Organization of Eastern Caribbean States<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/country/pacificislands">Pacific Islands<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/country/smallstates">Small States<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/country/gcc">Gulf Cooperation Council <span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/country/westerneurope">Western Europe<span></span></a> </li> </ul> </li> <li> <ul class="browse-country">Browse by Country<div> <input type="text" placeholder="Search by Country Name..." id="search-country" data-toggle="dropdown" aria-label="country dropdown" aria-expanded="false">  <p type="button" class="lp__dropdown-toggle" data-toggle="dropdown" aria-label="country dropdown" aria-expanded="false"><span class="sr-only" aria-hidden="true">country dropdown</span></p> <ul class="country-list dropdown-menu"> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/afghanistan">Afghanistan</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/albania">Albania</a> <ul><li lang="sq"><a class="dropdown-item" href="https://www.worldbank.org/sq/country/albania">shqip</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/where-we-work/algeria">Algeria</a> <ul> <li lang="fr"><a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/algeria">Français</a></li> <li lang="ar"><a class="dropdown-item" href="https://www.albankaldawli.org/ar/country/algeria">عربي</a></li> </ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/angola">Angola</a> <ul> <li lang="pt"><a class="dropdown-item" href="https://www.worldbank.org/pt/country/angola">Português</a></li> </ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/caribbean">Antigua and Barbuda</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/argentina">Argentina</a> <ul> <li lang="es"><a class="dropdown-item" href="https://www.bancomundial.org/es/country/argentina">Español</a></li> </ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/armenia">Armenia</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/australia">Australia</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/austria">Austria</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/azerbaijan">Azerbaijan</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/gcc">Bahrain</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/bangladesh">Bangladesh</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/belarus">Belarus</a> <ul> <li lang="ru"><a class="dropdown-item" href="https://www.vsemirnyjbank.org/ru/country/belarus">Русский</a></li> </ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/belgium">Belgium</a> <ul> <li lang="fr"><a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/belgium">Français</a></li> </ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/caribbean">Belize</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/benin">Benin</a> <ul> <li lang="fr"><a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/benin">Français</a></li> </ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/bhutan">Bhutan</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/bolivia">Bolivia</a> <ul> <li lang="es"><a class="dropdown-item" href="https://www.bancomundial.org/es/country/bolivia">Español</a></li> </ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/bosniaandherzegovina">Bosnia and Herzegovina</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/botswana">Botswana</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/brazil">Brazil</a> <ul> <li lang="pt"><a class="dropdown-item" href="https://www.worldbank.org/pt/country/brazil">Português</a></li> </ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/bulgaria">Bulgaria</a> <ul> <li lang="bg"><a class="dropdown-item" href="https://www.worldbank.org/bg/country/bulgaria">Български</a></li> </ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/burkinafaso">Burkina Faso</a> <ul> <li lang="fr"><a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/burkinafaso">Français</a></li> </ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/burundi">Burundi</a> <ul> <li lang="fr"><a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/burundi">Français</a></li> </ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/caboverde">Cabo Verde</a> <ul> <li lang="pt"> <a class="dropdown-item" href="https://www.worldbank.org/pt/country/caboverde">Português</a></li> </ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/cambodia">Cambodia</a> <ul> <li lang="km"><a class="dropdown-item" href="https://www.worldbank.org/km/country/cambodia">ភាសាខ្មែរ</a></li> </ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/cameroon ">Cameroon</a> <ul> <li lang="fr"><a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/cameroon">Français</a></li> </ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/canada">Canada</a> <ul> <li lang="fr"><a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/canada">Français</a></li> </ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/centralafricanrepublic">Central African Republic</a> <ul> <li lang="fr"><a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/centralafricanrepublic">Français</a></li> </ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/chad">Chad</a> <ul> <li lang="fr"><a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/chad">Français</a></li> </ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/chile">Chile</a> <ul> <li lang="es"><a class="dropdown-item" href="https://www.bancomundial.org/es/country/chile">Español</a></li> </ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/china">China</a> <ul> <li lang="zh"><a class="dropdown-item" href="https://www.shihang.org/zh/country/china">中文</a></li> </ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/colombia">Colombia</a> <ul><li lang="es"><a class="dropdown-item" href="https://www.bancomundial.org/es/country/colombia">Español</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/comoros">Comoros</a> <ul><li lang="fr"><a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/comoros">Français</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/drc">Democratic Republic of Congo</a> <ul><li lang="fr"><a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/drc">Français</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/congo">Republic of Congo </a> <ul><li lang="fr"><a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/congo">Français</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/costarica">Costa Rica</a> <ul><li lang="es"><a class="dropdown-item" href="https://www.bancomundial.org/es/country/costarica">Español</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/cotedivoire">Cote d'Ivoire</a> <ul><li lang="fr"><a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/cotedivoire">Français</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/croatia">Croatia</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/eu">Czech Republic</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/denmark">Denmark</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/djibouti">Djibouti</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/caribbean">Dominica</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/dominicanrepublic">Dominican Republic</a> <ul><li lang="es"><a class="dropdown-item" href="https://www.bancomundial.org/es/country/dominicanrepublic">Español</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/ecuador">Ecuador</a> <ul><li lang="es"><a class="dropdown-item" href="https://www.bancomundial.org/es/country/ecuador">Español</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/egypt">Egypt</a> <ul><li lang="ar"><a class="dropdown-item" href="https://www.albankaldawli.org/ar/country/egypt">عربي</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/elsalvador">El Salvador</a> <ul><li lang="es"> <a class="dropdown-item" href="https://www.bancomundial.org/es/country/elsalvador">Español</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/equatorialguinea">Equatorial Guinea</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/eritrea">Eritrea</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/estonia">Estonia</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/ethiopia">Ethiopia</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/westerneurope">Europe (Western)</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/pacificislands">Fiji</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/finland">Finland</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/france">France</a> <ul><li lang="fr"><a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/france">Français</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/gabon">Gabon</a> <ul><li lang="fr"><a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/gabon">Français</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/gambia">The Gambia</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/georgia">Georgia</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/germany">Germany</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/ghana">Ghana</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/greece">Greece</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/caribbean">Grenada</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/guatemala">Guatemala</a> <ul><li lang="es"><a class="dropdown-item" href="https://www.bancomundial.org/es/country/guatemala">Español</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/guinea">Guinea</a> <ul><li lang="fr"><a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/guinea">Français</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/guineabissau">Guinea-Bissau</a> <ul><li lang="pt"><a class="dropdown-item" href="https://www.worldbank.org/pt/country/guineabissau">Português</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/guineabissau">Guyana</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/haiti">Haiti</a> <ul><li lang="fr"><a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/haiti">Français</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/honduras">Honduras</a> <ul><li lang="es"><a class="dropdown-item" href="https://www.bancomundial.org/es/country/honduras">Español</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/eu">Hungary</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/iceland">Iceland</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/india">India</a> <ul><li lang="hi"><a class="dropdown-item" href="https://www.worldbank.org/hi/country/india">Hindi</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/indonesia">Indonesia</a> <ul><li lang="in"><a class="dropdown-item" href="https://www.worldbank.org/in/country/indonesia">Bahasa</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/iran">Iran</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/iraq">Iraq</a> <ul><li lang="ar"><a class="dropdown-item" href="https://www.albankaldawli.org/ar/country/iraq">عربي</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/israel">Israel</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/italy">Italy</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/jamaica">Jamaica</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/japan">Japan</a> <ul><li lang="ja"><a class="dropdown-item" href="https://www.worldbank.org/ja/country/japan">日本語</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/jordan">Jordan</a> <ul><li lang="ar"><a class="dropdown-item" href="https://www.albankaldawli.org/ar/country/jordan">عربي</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/kazakhstan">Kazakhstan</a> <ul><li lang="ru"><a class="dropdown-item" href="https://www.vsemirnyjbank.org/ru/country/kazakhstan">Русский</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/kenya">Kenya</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/pacificislands">Kiribati</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/korea">Korea</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/kosovo">Kosovo</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/gcc">Kuwait</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/kyrgyzrepublic">Kyrgyz Republic</a> <ul><li lang="ru"><a class="dropdown-item" href="https://www.vsemirnyjbank.org/ru/country/kyrgyzrepublic">Русский</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/lao">Lao PDR</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/latvia">Latvia</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/lebanon">Lebanon</a> <ul><li lang="ar"><a class="dropdown-item" href="https://www.albankaldawli.org/ar/country/lebanon">عربي</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/lesotho">Lesotho</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/liberia">Liberia</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/libya">Libya</a> <ul><li lang="ar"> <a class="dropdown-item" href="https://www.albankaldawli.org/ar/country/libya">عربي</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/lithuania">Lithuania</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/luxembourg">Luxembourg</a> <ul><li lang="fr"><a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/luxembourg">Français</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/northmacedonia">FYR of Macedonia</a> <ul><li lang="mk"><a class="dropdown-item" href="https://www.worldbank.org/mk/country/macedonia">македонски</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/madagascar">Madagascar</a> <ul><li lang="fr"> <a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/madagascar">Français</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/malawi">Malawi</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/malaysia">Malaysia</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/maldives">Maldives</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/mali">Mali</a> <ul><li lang="fr"> <a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/mali">Français</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/pacificislands">Marshall Islands</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/mauritania">Mauritania</a> <ul><li lang="fr"><a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/mauritania">Français</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/mauritius">Mauritius</a> <ul><li lang="fr"><a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/mauritius">Français</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/mexico">Mexico</a> <ul><li lang="es"><a class="dropdown-item" href="https://www.bancomundial.org/es/country/mexico">Español</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/moldova">Moldova</a> <ul><li lang="ro"><a class="dropdown-item" href="https://www.worldbank.org/ro/country/moldova">română</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/mongolia">Mongolia</a> <ul><li lang="mn"><a class="dropdown-item" href="https://www.worldbank.org/mn/country/mongolia">Монгол</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/montenegro">Montenegro</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/morocco">Morocco</a> <ul> <li lang="ar"><a class="dropdown-item" href="https://www.albankaldawli.org/ar/country/morocco">عربي</a></li> <li lang="fr"><a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/morocco">Français</a></li> </ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/mozambique">Mozambique</a> <ul><li lang="pt"><a class="dropdown-item" href="https://www.worldbank.org/pt/country/mozambique">Português</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/myanmar">Myanmar</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/namibia">Namibia</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/nepal">Nepal</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/netherlands">Netherlands</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/nicaragua">Nicaragua</a> <ul><li lang="es"><a class="dropdown-item" href="https://www.bancomundial.org/es/country/nicaragua">Español</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/niger">Niger</a> <ul><li lang="fr"><a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/niger">Français</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/nigeria">Nigeria</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/norway">Norway</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/gcc">Oman</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/pakistan">Pakistan</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/pacificislands">Palau</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/panama">Panama</a> <ul><li lang="es"><a class="dropdown-item" href="https://www.bancomundial.org/es/country/panama">Español</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/png">Papua New Guinea</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/paraguay">Paraguay</a> <ul><li lang="es"><a class="dropdown-item" href="https://www.bancomundial.org/es/country/paraguay">Español</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/peru">Peru</a> <ul><li lang="es"><a class="dropdown-item" href="https://www.bancomundial.org/es/country/peru">Español</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/philippines">Philippines</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/poland">Poland</a> <ul><li lang="pl"><a class="dropdown-item" href="https://www.worldbank.org/pl/country/poland">Polski</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/portugal">Portugal</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/gcc">Qatar</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/romania">Romania</a> <ul><li lang="ro"><a class="dropdown-item" href="https://www.worldbank.org/ro/country/romania">Română</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/russia">Russia</a> <ul><li lang="ru"><a class="dropdown-item" href="https://www.vsemirnyjbank.org/ru/country/russia">Русский</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/rwanda">Rwanda</a> <ul><li lang="fr"> <a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/rwanda">Français</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/pacificislands">Samoa</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/saotome">Sao Tome and Principe</a> <ul><li lang="pt"><a class="dropdown-item" href="https://www.worldbank.org/pt/country/saotome">Português</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/senegal">Senegal</a> <ul><li lang="fr"> <a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/senegal">Français</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/serbia">Serbia</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/seychelles">Seychelles</a> <ul><li lang="fr"><a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/seychelles">Français</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/sierraleone">Sierra Leone</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/singapore">Singapore</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/eu">Slovak Republic</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/eu">Slovenia</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/pacificislands">Solomon Islands</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/somalia">Somalia</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/southafrica">South Africa</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/southsudan">South Sudan</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/spain">Spain</a> <ul><li lang="es"><a class="dropdown-item" href="https://www.bancomundial.org/es/country/spain">Español</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/srilanka">Sri Lanka</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/caribbean">St. Kitts and Nevis</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/caribbean">St. Lucia</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/caribbean">St. Vincent and Grenadines</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/sudan">Sudan</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/caribbean">Suriname</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/eswatini">Swaziland</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/sweden">Sweden</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/switzerland">Switzerland</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/syria">Syria</a> <ul><li lang="ar"><a class="dropdown-item" href="https://www.albankaldawli.org/ar/country/syria">عربي</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/tajikistan">Tajikistan</a> <ul><li lang="ru"><a class="dropdown-item" href="https://www.vsemirnyjbank.org/ru/country/tajikistan">Русский</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/tanzania">Tanzania</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/thailand">Thailand</a> <ul><li lang="th"><a class="dropdown-item" href="https://www.worldbank.org/th/country/thailand">ภาษาไทย</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/timor-leste">Timor Leste (East Timor)</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/togo">Togo</a> <ul><li lang="fr"><a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/togo">Français</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/pacificislands">Tonga</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/caribbean">Trinidad and Tobago</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/tunisia">Tunisia</a> <ul><li lang="ar"><a class="dropdown-item" href="https://www.albankaldawli.org/ar/country/tunisia">عربي</a></li> <li lang="fr"><a class="dropdown-item" href="https://www.banquemondiale.org/fr/country/tunisia">Français</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/turkey">Turkey</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/turkmenistan">Turkmenistan</a> <ul><li lang="ru"><a class="dropdown-item" href="https://www.vsemirnyjbank.org/ru/country/turkmenistan">Русский</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/pacificislands">Tuvalu</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/uganda">Uganda</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/ukraine">Ukraine</a> <ul><li lang="uk"><a class="dropdown-item" href="https://www.worldbank.org/uk/country/ukraine">Yкраїнський</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/gcc">United Arab Emirates</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/unitedkingdom">United Kingdom</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/unitedstates">United States of America</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/uruguay">Uruguay</a> <ul><li lang="es"><a class="dropdown-item" href="https://www.bancomundial.org/es/country/uruguay">Español</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/uzbekistan">Uzbekistan</a> <ul><li lang="ru"><a class="dropdown-item" href="https://www.vsemirnyjbank.org/ru/country/uzbekistan">Русский</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/pacificislands">Vanuatu</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/venezuela">Venezuela</a> <ul><li lang="es"><a class="dropdown-item" href="https://www.bancomundial.org/es/country/venezuela">Español</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/vietnam">Vietnam</a> <ul><li lang="vi"><a class="dropdown-item" href="https://www.worldbank.org/vi/country/vietnam">Tiẽng Việt</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/westbankandgaza">West Bank and Gaza</a> <ul><li lang="ar"> <a class="dropdown-item" href="https://www.albankaldawli.org/ar/country/westbankandgaza">عربي</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/yemen">Yemen</a> <ul><li lang="ar"> <a class="dropdown-item" href="https://www.albankaldawli.org/ar/country/yemen">عربي</a></li></ul> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/zambia">Zambia</a> </li> <li><a class="dropdown-item" href="https://www.worldbank.org/en/country/zimbabwe">Zimbabwe</a> </li> </ul> </div> </ul> </li> </ul> <ul id="submenu_3" class="submenu" style="display: none;" > <li class="" role="link">Data & Research<ul> <li class=""><a href="https://data.worldbank.org/">Open Data<span></span></a> <ul> <li class=""> <a href="https://data.worldbank.org/country">By Country<span></span></a> </li> <li class=""> <a href="https://data.worldbank.org/indicator">By Indicator<span></span></a> </li> </ul> </li> <li class="highlight-link"> <a href="https://www.worldbank.org/en/research">Research & Publications<span></span></a> </li> </ul> </li> <li class="" role="link">DEVELOPMENT TOPICS <ul> <li class=""><a href="https://www.worldbank.org/en/topic/agriculture">Agriculture<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/topic/climatechange">Climate<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/topic/digital">Digital Transformation <span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/topic/education">Education <span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/topic/energy">Energy<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/topic/gender">Gender<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/topic/health">Health <span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/topic/poverty">Poverty<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/topic/transport">Transport<span></span></a> </li> <li class="highlight-link"> <a href="https://www.worldbank.org/en/topic">All Development Topics<span></span></a> </li> </ul> </li> </ul> <ul id="submenu_4" class="submenu" style="display: none;"> <li class="" role="link">FOR JOB SEEKERS <ul> <li class=""><a href="https://www.worldbank.org/en/about/careers">Jobs<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/about/careers/programs-and-internships">Programs & Internships<span></span></a> </li> </ul> </li> <li class="" role="link">FOR PARTNERS <ul> <li class=""><a href="https://www.worldbank.org/en/about/partners">Partners<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/about/foundation-and-private-sector-partnerships">Corporate & Private Foundations<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/about/partners/the-world-bank-group-and-private-sector">Private Sector<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/about/corporate-procurement">Corporate Procurement<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/about/partners/civil-society">Civil Society <span></span></a> </li> <li class=""><a href="https://consultations.worldbank.org/en/consultations/home?map=1">Consultations<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/who-we-are/parliamentarians">Parliamentarians<span></span></a> </li> </ul> </li> <li class="" role="link">FOR LEARNERS <ul> <li class=""><a href="https://wbg.edcast.com/">Open Learning Campus<span></span></a> </li> <li class=""><a href="https://academy.worldbank.org/en/home">World Bank Group Academy <span></span></a> </li> </ul> </li> <li class="" role="link">FOR INVESTORS <ul> <li class=""><a href="https://treasury.worldbank.org/en/about/unit/treasury/ibrd">World Bank Bonds & Investment Products<span></span></a> </li> <li class=""><a href="https://treasury.worldbank.org/en/about/unit/treasury">Treasury<span></span></a> </li> <li class=""><a href="https://www.miga.org/">World Bank Group Guarantees<span></span></a> </li> </ul> </li> <li class="" role="link">MEET US<ul> <li class=""><a href="https://www.worldbank.org/en/events">Events<span></span></a> </li> <li class=""><a href="https://live.worldbank.org/en/home">World Bank Live<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/about/speakers-bureau">Speaker's Bureau <span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/meetings/splash">Spring & Annual Meetings<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/about/contacts">Contacts & Inquiries<span></span></a> </li> </ul> </li> </ul> <ul id="submenu_5" class="submenu" style="display: none;"> <li class="" role="link">NEWS & UPDATES<ul> <li class=""><a href="https://www.worldbank.org/en/news/all?displayconttype_exact=Press+Release&lang_exact=English&qterm=">Press Releases<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/news/all?qterm=&lang_exact=English&displayconttype_exact=Statement">Statements<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/news/all?displayconttype_exact=Speeches+and+Transcripts&lang_exact=English&qterm=">Speeches & Transcripts<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/news/all?displayconttype_exact=Opinion&lang_exact=English&qterm=">Opinions<span></span></a> </li> <li class="highlight-link"> <a href="https://www.worldbank.org/en/news/all">All News<span></span></a> </li> </ul> </li> <li class="" role="link">EVENTS & RESOURCES<ul> <li class=""><a href="https://www.worldbank.org/en/events/all">Events<span></span></a> </li> <li class=""><a href="https://live.worldbank.org/en/home">World Bank Live <span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/news/all?qterm=&lang_exact=English&displayconttype_exact=Factsheet">Fact Sheets<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/results/all?lang_exact=English&displayconttype_exact=Results">Results<span></span></a> </li> </ul> </li> <li class="" role="link">STORIES & MULTIMEDIA <ul> <li class=""><a href="https://blogs.worldbank.org/en/home">Blogs<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/news/all?displayconttype_exact=Feature+Story&lang_exact=English&qterm=">Feature Stories<span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/who-we-are/news/immersive-story">Immersive Stories <span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/who-we-are/news/multimedia/all">Multimedia <span></span></a> </li> <li class=""><a href="https://www.worldbank.org/en/who-we-are/news/multimedia/all?lang_exact=English&multimedia_class_exact=Podcast">Podcasts<span></span></a> </li> </ul> </li> </ul> </div> </div> </div> </div> <div class="section nav-tools" data-section-status="loaded" style=""> <div class="default-content-wrapper"> <span class="icon icon-search" role="button" data-toggle="dropdown" aria-haspopup="true" aria-expanded="false" aria-label="Perform a search query" tabindex="0" title="Search" style="cursor: pointer;"><img data-icon-name="search" src="https://www.worldbank.org/ext/icons/search.svg" alt="" loading="lazy"></span> <div class="search-container dropdown-menu"> <div class="search-input-wrapper"> <div class="search-input-container"> <form name="hiddensearch" id="globalsearchId" method="get" style="display:none" aria-hidden="true"> <input id="global_search" type="hidden" name="q" title="searchtexthidden"> </form> <form role="search" class="input-group" name="search" onsubmit="return submit_search_form();" method="get"> <input type="search" onfocus="clearField(this)" placeholder="Search worldbank.org" class="search-input-field-1 global_search_form_desktop" id="search-input" name="qterm_test" autocomplete="off"> <button type="submit" title="Search" onclick="javascript:submit_search_form();" class="search-icon"><span class="sr-only" aria-hidden="true">Search button</span> </button> </form>  </div> </div> </div> </div> </div> </nav> </div> </div> </div> </header> <script> $(document).ready(function() { var activeLink =$(".lp__megamenu li" ).first().children("a").attr('href'); var url = window.location.href; if (typeof activeLink !== 'undefined'){ $(".lp__megamenu li").each(function(index, obj) { $(this).children("a").removeClass("active focus"); if ($(this).children("a").attr('href') == url){ $(this).children("a").addClass("active focus"); } }); } }); let navSections = document.querySelector(".nav-sections .default-content-wrapper"); if (navSections) { fetch("https://extdataportal.worldbank.org/api/ext/en/trending.json").then(res => res.json()).then(response => { if (response && response.hasOwnProperty("data")) { let trendingData = response["data"]; let trendingPage = trendingData[Math.floor(Math.random() * trendingData.length)]; let trendingText = navSections.querySelector("p span:nth-child(2)"); if (trendingText) { trendingText.innerHTML = trendingPage.Text; } let trendingLink = navSections.querySelector("a"); if (trendingLink) { trendingLink.setAttribute('href', trendingPage.Link); } } }).catch(err => console.log(err)); } </script> <div class="lang-toggler language_toggler parbase"><div class="breadcrumb-section breadcrumb_13" 123style=""> <div class="container"> <div class="row"> <div class="col-lg-6 col-md-6 col-sm-6 col-xs-6"> <div class="page-title"> <ol class="breadcrumb_redesign"> <li><a class="l1-breadcrumb" href="/en/who-we-are">Who We Are</a></li> <li class="hidden-sm hidden-xs"><a class="l1-breadcrumb" href="/en/about/unit">Organizational Units</a></li> </ol> </div> </div> <div class="col-lg-6 col-md-6 col-sm-6 col-xs-6">  <div class="lang-switch-mobile hidden-lg hidden-md"> <div class="page-langswitch " id="lang-click" style="cursor: pointer;"> <ul> <li><span>This page in:</span> <span class="dropdown-toggle" aria-expanded="false"> <span> EN</span> <span> <i class="icon icon-angle-down" style="cursor: pointer;"><span class="sr-only">dropdown</span></i> </span> </span> </li> </ul> </div> <div class="langswitch-dropdown float-right" id="lang-drop" style="display: none;"> <ul class="dropdown-menu-right"> <li><a href="https://www.worldbank.org/ja/about/unit/treasury">日本語</a></li> </ul> </div> </div>  <div class="lang-switch-desktop hidden-sm hidden-xs ">  <span class="page-in">This page in:<span class="space">_</span></span> <ul> <li class="in-else">English</li> <li class="in-else"><a href="https://www.worldbank.org/ja/about/unit/treasury">日本語</a></li> </ul> <li class="dropdown-link hidden"> <a id="dropdown-more-language" href="javascript:toggleMore('#more-language','#dropdown-more-language')"><span><i class="icon icon-angle-down" style="cursor: pointer;"><span class="sr-only">dropdown</span></i></span> </a> </li> </div>  </div> </div> </div> </div> <div class="clearix"></div> <script> $(document).ready(function() { var cuurpage = "/content/wb-home/en/about/unit/treasury"; var pageLocale = "en"; var activeLink =$(".breadcrumb_redesign li" ).first().children("a").attr('href'); if (typeof activeLink !== 'undefined'){ $(".lp__megamenu li.lp__megamenu_list a, .lp__megamenu li.lp__megamenu_list").removeClass("active"); //adedd for D&R to Highlight menu if(cuurpage.indexOf('publication/documents-reports') !== -1 && (cuurpage.indexOf("http") !== -1 || cuurpage.indexOf("https") !== -1)){ activeLink = "/" + activeLink.split("/").slice(3).join("/"); }//end $(".lp__megamenu li.lp__megamenu_list").each(function(index, obj) { if ($(this).children("a").attr('href') == activeLink){ $(this).children("a").addClass("active"); } }); } var isCPF = "false"; var activeLink = ""; if (isCPF == "true" && typeof activeLink !== 'undefined'){ $(".lp__megamenu li.lp__megamenu_list a, .lp__megamenu li.lp__megamenu_list").removeClass("active"); $(".lp__megamenu li.lp__megamenu_list").each(function(index, obj) { if ($(this).children("a").text().toLowerCase().trim() == activeLink.toLowerCase().trim()) { $(this).addClass("active"); $(this).children("a").addClass("active"); } }); } var activeLink1 =$(".breadcrumb_redesign li" ).first().children("a").attr('href'); if (typeof activeLink1 !== 'undefined'){ $(".navbar-collapse>.navbar-nav>li.mega-menu>a, .navbar-collapse>.navbar-nav>li.mega-menu").removeClass("active"); //adedd for D&R to Highlight menu if(cuurpage.indexOf('publication/documents-reports') !== -1 && (cuurpage.indexOf("http") !== -1 || cuurpage.indexOf("https") !== -1)){ activeLink1 = "/" + activeLink1.split("/").slice(3).join("/"); }//end $(".navbar-collapse>.navbar-nav>li.mega-menu").each(function(index, obj) { if ($(this).children("a").attr('href') == activeLink1){ $(this).children("a").addClass("active"); } }); } if (isCPF == "true" && typeof activeLink !== 'undefined'){ $(".navbar-collapse>.navbar-nav>li.mega-menu>a, .navbar-collapse>.navbar-nav>li.mega-menu").removeClass("active"); $(".navbar-collapse>.navbar-nav>li.mega-menu").each(function(index, obj) { if ($(this).children("a").text().toLowerCase().trim() == activeLink.toLowerCase().trim()) { $(this).addClass("active"); $(this).children("a").addClass("active"); } }); } }); </script> </div> <div class="par parsys"><div class="banner parbase section"> <div class="hero-v1-section "> <div class="hero-container-fixed_no"> <div class="hero-img" style="background-image: url(/content/dam/photos/1440x600/2025/feb/Malawi-IPF-DDO-TRE-Banner.png);">  <span class="img-gradient"></span> </div> <div class="container hero-container"> <div class="row"> <div class="hero-img-overlay col-lg-10 col-md-10 col-sm-12 col-xs-12" style=" background:none; "> <h1 class="hero-title">A Lifeline for Malawi</h1> <h3 class="hero-description">World Bank's Investment Project Financing with Deferred Drawdown Option (IPF DDO) Offers Flexible, Contingent Financing to Secure Essential Commodity Imports</h3> <a href="https://thedocs.worldbank.org/en/doc/11e472c063e5e9c71f78a2fc03cecefa-0340012025/original/Case-Study-Malawi-IDA-IPF-DDO.pdf" target="_blank" class="btn btn-default btn-lg primary-orange-btn">Read more</a> </div> </div> </div> </div> </div> </div> <div class="supergrid parbase section"> <div class="row clearfix full-row-white-components" style="padding: 0px 0px 0px 0px; background-color:"> <div class="container"> <div class=""> <div class="par parsys"><div class="gridlayout parbase section"> <div class="row hidden-md hidden-lg"> <div class="col-md-12 colsplit" id=""> <div class=" "> <div class="grid_12_par_0 parsys"> <div style="padding-left:0px;padding-right:0px;" class="remove-padding-grid" > <div class="reference parbase section"> <div style="display:inline;" class="cq-dd-paragraph"><div class="n01v1_left_navigatio n01v1_left_navigation_pathselect"> <div class="_loop_left_nav hidden-sm hidden-xs"> <ul class="_loop_left_nav_list"> <li><a class="_loop_left_nav_list_item active disabled" title="Treasury" href="/en/about/unit/treasury">Treasury</a> </li> <ul class="_loop_left_nav_sublist"> <li><a class="_loop_left_nav_list_item" title="About" href="/en/about/unit/treasury/about">About</a> </li> </ul> <li><a class="_loop_left_nav_list_item" title="Impact" href="/en/about/unit/treasury/impact">Impact</a> </li> <li><a class="_loop_left_nav_list_item" title="IBRD Funding Program" href="/en/about/unit/treasury/ibrd">IBRD Funding Program</a> </li> <li><a class="_loop_left_nav_list_item" title="IDA Funding Program" href="/en/about/unit/treasury/ida">IDA Funding Program</a> </li> <li><a class="_loop_left_nav_list_item" title="IBRD Financial Products" href="/en/about/unit/treasury/ibrd-financial-products">IBRD Financial Products</a> </li> <li><a class="_loop_left_nav_list_item" title="IDA Financial Products" href="/en/about/unit/treasury/ida-financial-products">IDA Financial Products</a> </li> <li><a class="_loop_left_nav_list_item" title="Asset Management" href="/en/about/unit/treasury/asset-management">Asset Management</a> </li> <li><a class="_loop_left_nav_list_item" title="RAMP" href="/en/about/unit/treasury/reserve-advisory-management-partnership">RAMP</a> </li> <li><a class="_loop_left_nav_list_item" title="Client Services" href="/en/about/unit/treasury/client-services">Client Services</a> </li> <li><a class="_loop_left_nav_list_item" title="News" href="/en/about/unit/treasury/news">News</a> </li> <li><a class="_loop_left_nav_list_item" title="Contact" href="/en/about/unit/treasury/contact">Contact</a> </li> <li><a class="_loop_left_nav_list_item" title="7th MDB Treasury Operations Forum Login" href="/en/about/unit/treasury/mdbopsforum">7th MDB Treasury Operations Forum Login</a> </li> <li><a class="_loop_left_nav_list_item" title="Events" href="/en/about/unit/treasury/events">Events</a> </li> </ul> </div><div class="clearfix"></div> <script type="text/javascript"> function toggleclass(element,elemMore){ $(element).toggle(); if($(element).is(":visible")){ $(elemMore).html('<i class="fa fa-angle-up"></i>'); }else{ $(elemMore).html('<i class="fa fa-angle-down"></i>'); } }</script> <button type="button" class="_loop_left_nav_dropdown hidden-lg hidden-md" data-toggle="collapse" data-target=".nav-collapse"> <span class = "filter-option" title="Treasury" href="https://www.worldbank.org/en/about/unit/treasury">Treasury</span> <span class="nav-dropdown-arrow"></span> </button> <div class="nav-collapse collapse _loop_left_nav _loop_left_nav_dropdown_list"> <ul> <ul class="_loop_left_nav_sublist"> <li> <a class="_loop_left_nav_list_item " title="About" href="/en/about/unit/treasury/about">About</a> <a class="expanded-menu" id="nav0" title="Projects" href="javascript:toggleclass('#nav-click0','#nav0')"> <i class="fa fa-angle-down"></i></a><ul style="display: none;" id="nav-click0"> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Organization" href="/en/about/unit/treasury/about/what-we-do">Organization</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="People" href="/en/about/unit/treasury/about/who-we-are">People</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Offices" href="/en/about/unit/treasury/about/where-we-work">Offices</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Careers" href="/en/about/unit/treasury/about/careers">Careers</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Student Careers" href="/en/about/unit/treasury/about/student-and-graduate-careers">Student Careers</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Awards & Recognition" href="/en/about/unit/treasury/about/awards-and-recognition">Awards & Recognition</a> </li> </ul></li></ul> <ul class="_loop_left_nav_sublist"> <li> <a class="_loop_left_nav_list_item " title="Impact" href="/en/about/unit/treasury/impact">Impact</a> <a class="expanded-menu" id="nav1" title="Projects" href="javascript:toggleclass('#nav-click1','#nav1')"> <i class="fa fa-angle-down"></i></a><ul style="display: none;" id="nav-click1"> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Impact Report" href="/en/about/unit/treasury/impact/impact-report">Impact Report</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Reserve Management Survey Report" href="/en/about/unit/treasury/impact/reserve-management-survey-report">Reserve Management Survey Report</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Sustainable Fixed-Income Strategy Report" href="/en/about/unit/treasury/impact/sustainable-fixed-income-strategy">Sustainable Fixed-Income Strategy Report</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="70 Years Connecting Capital Markets to Development" href="/en/about/unit/treasury/impact/70-years-connecting-capital-markets-to-development">70 Years Connecting Capital Markets to Development</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Publications" href="/en/about/unit/treasury/impact/publications">Publications</a> </li> </ul></li></ul> <ul class="_loop_left_nav_sublist"> <li> <a class="_loop_left_nav_list_item " title="IBRD Funding Program" href="/en/about/unit/treasury/ibrd">IBRD Funding Program</a> <a class="expanded-menu" id="nav2" title="Projects" href="javascript:toggleclass('#nav-click2','#nav2')"> <i class="fa fa-angle-down"></i></a><ul style="display: none;" id="nav-click2"> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Sustainable Development Bonds" href="/en/about/unit/treasury/ibrd/ibrd-sustainable-development-bonds">Sustainable Development Bonds</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Green Bonds" href="/en/about/unit/treasury/ibrd/ibrd-green-bonds">Green Bonds</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Benchmark & Global Bonds" href="/en/about/unit/treasury/ibrd/ibrd-benchmark-and-global-bonds">Benchmark & Global Bonds</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Non-Core Currency Bonds" href="/en/about/unit/treasury/ibrd/ibrd-non-core-currencies-bonds">Non-Core Currency Bonds</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Outcome Bonds " href="/en/about/unit/treasury/ibrd/outcome-bonds">Outcome Bonds </a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Capital at Risk Notes" href="/en/about/unit/treasury/ibrd/ibrd-capital-at-risk-notes">Capital at Risk Notes</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Discount Notes" href="/en/about/unit/treasury/ibrd/ibrd-discount-notes">Discount Notes</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Featured Markets" href="/en/about/unit/treasury/ibrd/featured-markets">Featured Markets</a> </li> </ul></li></ul> <li><a class="_loop_left_nav_list_item " title="IDA Funding Program" href="/en/about/unit/treasury/ida">IDA Funding Program</a> </li> <ul class="_loop_left_nav_sublist"> <li> <a class="_loop_left_nav_list_item " title="IBRD Financial Products" href="/en/about/unit/treasury/ibrd-financial-products">IBRD Financial Products</a> <a class="expanded-menu" id="nav4" title="Projects" href="javascript:toggleclass('#nav-click4','#nav4')"> <i class="fa fa-angle-down"></i></a><ul style="display: none;" id="nav-click4"> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="IBRD Flexible Loan" href="/en/about/unit/treasury/ibrd-financial-products/ibrd-flexible-loan">IBRD Flexible Loan</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Lending Rates & Fees" href="/en/about/unit/treasury/ibrd-financial-products/lending-rates-and-fees">Lending Rates & Fees</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Local Currency Financing" href="/en/about/unit/treasury/ibrd-financial-products/local-currency-financing">Local Currency Financing</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Contingent Financing" href="/en/about/unit/treasury/ibrd-financial-products/contingent-financing">Contingent Financing</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Credit Enhancement Guarantees" href="/en/about/unit/treasury/ibrd-financial-products/creditenhancement">Credit Enhancement Guarantees</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Retired Loan Products" href="/en/about/unit/treasury/ibrd-financial-products/retired-loan-products">Retired Loan Products</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Financial Risk Management" href="/en/about/unit/treasury/ibrd-financial-products/financial-risk-management">Financial Risk Management</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Disaster Risk Management" href="/en/about/unit/treasury/ibrd-financial-products/disaster-risk-management">Disaster Risk Management</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Learning" href="/en/about/unit/treasury/ibrd-financial-products/learning">Learning</a> </li> </ul></li></ul> <ul class="_loop_left_nav_sublist"> <li> <a class="_loop_left_nav_list_item " title="IDA Financial Products" href="/en/about/unit/treasury/ida-financial-products">IDA Financial Products</a> <a class="expanded-menu" id="nav5" title="Projects" href="javascript:toggleclass('#nav-click5','#nav5')"> <i class="fa fa-angle-down"></i></a><ul style="display: none;" id="nav-click5"> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Lending Rates & Fees" href="/en/about/unit/treasury/ida-financial-products/lending-rates-and-fees">Lending Rates & Fees</a> </li> </ul></li></ul> <li><a class="_loop_left_nav_list_item " title="Asset Management" href="/en/about/unit/treasury/asset-management">Asset Management</a> </li> <ul class="_loop_left_nav_sublist"> <li> <a class="_loop_left_nav_list_item " title="RAMP" href="/en/about/unit/treasury/reserve-advisory-management-partnership">RAMP</a> <a class="expanded-menu" id="nav7" title="Projects" href="javascript:toggleclass('#nav-click7','#nav7')"> <i class="fa fa-angle-down"></i></a><ul style="display: none;" id="nav-click7"> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Advisory Services" href="/en/about/unit/treasury/reserve-advisory-management-partnership/advisory-services">Advisory Services</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Executive Training" href="/en/about/unit/treasury/reserve-advisory-management-partnership/executive-training">Executive Training</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Global Network" href="/en/about/unit/treasury/reserve-advisory-management-partnership/global-network">Global Network</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Asset Management" href="/en/about/unit/treasury/reserve-advisory-management-partnership/asset-management">Asset Management</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Research & Publications" href="/en/about/unit/treasury/reserve-advisory-management-partnership/research-and-publications">Research & Publications</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Become A Member" href="/en/about/unit/treasury/reserve-advisory-management-partnership/become-a-member">Become A Member</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Team" href="/en/about/unit/treasury/reserve-advisory-management-partnership/our-team">Team</a> </li> </ul></li></ul> <ul class="_loop_left_nav_sublist"> <li> <a class="_loop_left_nav_list_item " title="Client Services" href="/en/about/unit/treasury/client-services">Client Services</a> <a class="expanded-menu" id="nav8" title="Projects" href="javascript:toggleclass('#nav-click8','#nav8')"> <i class="fa fa-angle-down"></i></a><ul style="display: none;" id="nav-click8"> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Sustainable Finance and ESG Advisory Services" href="/en/about/unit/treasury/client-services/sustainable-finance-advisory">Sustainable Finance and ESG Advisory Services</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Disaster Risk Management Advisory" href="/en/about/unit/treasury/client-services/disaster-risk-management-advisory">Disaster Risk Management Advisory</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Commodity Price Risk Management Advisory" href="/en/about/unit/treasury/client-services/commodity-price-risk-management-advisory">Commodity Price Risk Management Advisory</a> </li> </ul></li></ul> <ul class="_loop_left_nav_sublist"> <li> <a class="_loop_left_nav_list_item " title="News" href="/en/about/unit/treasury/news">News</a> <a class="expanded-menu" id="nav9" title="Projects" href="javascript:toggleclass('#nav-click9','#nav9')"> <i class="fa fa-angle-down"></i></a><ul style="display: none;" id="nav-click9"> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Newsletters" href="/en/about/unit/treasury/news/newsletters">Newsletters</a> </li> </ul></li></ul> <li><a class="_loop_left_nav_list_item " title="Contact" href="/en/about/unit/treasury/contact">Contact</a> </li> <ul class="_loop_left_nav_sublist"> <li> <a class="_loop_left_nav_list_item " title="7th MDB Treasury Operations Forum Login" href="/en/about/unit/treasury/mdbopsforum">7th MDB Treasury Operations Forum Login</a> <a class="expanded-menu" id="nav12" title="Projects" href="javascript:toggleclass('#nav-click12','#nav12')"> <i class="fa fa-angle-down"></i></a><ul style="display: none;" id="nav-click12"> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="7th MDB Treasury Operations Forum Login Forgot Password " href="/en/about/unit/treasury/mdbopsforum/forgotpassword">7th MDB Treasury Operations Forum Login Forgot Password </a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="7th MDB Treasury Operations Forum Login Reset Password" href="/en/about/unit/treasury/mdbopsforum/resetpassword">7th MDB Treasury Operations Forum Login Reset Password</a> </li> </ul></li></ul> <li><a class="_loop_left_nav_list_item " title="Events" href="/en/about/unit/treasury/events">Events</a> </li> </ul></div> <script type="text/javascript"> function toggleclass(element,elemMore){ $(element).toggle(); if($(element).is(":visible")){ $(elemMore).html('<i class="fa fa-angle-up"></i>'); }else{ $(elemMore).html('<i class="fa fa-angle-down"></i>'); } } </script></div> </div></div> </div> </div> </div> </div> </div> <div class="clearfix"></div> <div style="margin-bottom: 0px"></div> </div> </div> </div> </div> </div> </div> <div class="supergrid parbase section"> <div class="row clearfix full-row-white-components" style=" background-color:"> <div class="container"> <div class=""> <div class="par parsys"><div class="gridlayout parbase section"> <div class="row "> <div class="col-md-2 colsplit" id=""> <div class=" "> <div class="grid_2_par_0 parsys"> <div style="padding-left:0px;padding-right:0px;" class="remove-padding-grid" > <div class="gridlayout parbase section"> <div class="row hidden-xs hidden-sm"> <div class="col-md-12 col-sm-12 col-lg-12 col-xs-12 colsplit" id=""> <div class=" "> <div class="grid_12_par_0 parsys"> <div style="padding-left:0px;padding-right:0px;" class="remove-padding-grid" > <div class="n01v1_left_navigation_pathselect section"> <div class="_loop_left_nav hidden-sm hidden-xs"> <ul class="_loop_left_nav_list"> <li><a class="_loop_left_nav_list_item active disabled" title="Treasury" href="/en/about/unit/treasury">Treasury</a> </li> <ul class="_loop_left_nav_sublist"> <li><a class="_loop_left_nav_list_item" title="About" href="/en/about/unit/treasury/about">About</a> </li> </ul> <li><a class="_loop_left_nav_list_item" title="Impact" href="/en/about/unit/treasury/impact">Impact</a> </li> <li><a class="_loop_left_nav_list_item" title="IBRD Funding Program" href="/en/about/unit/treasury/ibrd">IBRD Funding Program</a> </li> <li><a class="_loop_left_nav_list_item" title="IDA Funding Program" href="/en/about/unit/treasury/ida">IDA Funding Program</a> </li> <li><a class="_loop_left_nav_list_item" title="IBRD Financial Products" href="/en/about/unit/treasury/ibrd-financial-products">IBRD Financial Products</a> </li> <li><a class="_loop_left_nav_list_item" title="IDA Financial Products" href="/en/about/unit/treasury/ida-financial-products">IDA Financial Products</a> </li> <li><a class="_loop_left_nav_list_item" title="Asset Management" href="/en/about/unit/treasury/asset-management">Asset Management</a> </li> <li><a class="_loop_left_nav_list_item" title="RAMP" href="/en/about/unit/treasury/reserve-advisory-management-partnership">RAMP</a> </li> <li><a class="_loop_left_nav_list_item" title="Client Services" href="/en/about/unit/treasury/client-services">Client Services</a> </li> <li><a class="_loop_left_nav_list_item" title="News" href="/en/about/unit/treasury/news">News</a> </li> <li><a class="_loop_left_nav_list_item" title="Contact" href="/en/about/unit/treasury/contact">Contact</a> </li> <li><a class="_loop_left_nav_list_item" title="7th MDB Treasury Operations Forum Login" href="/en/about/unit/treasury/mdbopsforum">7th MDB Treasury Operations Forum Login</a> </li> <li><a class="_loop_left_nav_list_item" title="Events" href="/en/about/unit/treasury/events">Events</a> </li> </ul> </div><div class="clearfix"></div> <script type="text/javascript"> function toggleclass(element,elemMore){ $(element).toggle(); if($(element).is(":visible")){ $(elemMore).html('<i class="fa fa-angle-up"></i>'); }else{ $(elemMore).html('<i class="fa fa-angle-down"></i>'); } }</script> <button type="button" class="_loop_left_nav_dropdown hidden-lg hidden-md" data-toggle="collapse" data-target=".nav-collapse"> <span class = "filter-option" title="Treasury" href="https://www.worldbank.org/en/about/unit/treasury">Treasury</span> <span class="nav-dropdown-arrow"></span> </button> <div class="nav-collapse collapse _loop_left_nav _loop_left_nav_dropdown_list"> <ul> <ul class="_loop_left_nav_sublist"> <li> <a class="_loop_left_nav_list_item " title="About" href="/en/about/unit/treasury/about">About</a> <a class="expanded-menu" id="nav0" title="Projects" href="javascript:toggleclass('#nav-click0','#nav0')"> <i class="fa fa-angle-down"></i></a><ul style="display: none;" id="nav-click0"> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Organization" href="/en/about/unit/treasury/about/what-we-do">Organization</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="People" href="/en/about/unit/treasury/about/who-we-are">People</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Offices" href="/en/about/unit/treasury/about/where-we-work">Offices</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Careers" href="/en/about/unit/treasury/about/careers">Careers</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Student Careers" href="/en/about/unit/treasury/about/student-and-graduate-careers">Student Careers</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Awards & Recognition" href="/en/about/unit/treasury/about/awards-and-recognition">Awards & Recognition</a> </li> </ul></li></ul> <ul class="_loop_left_nav_sublist"> <li> <a class="_loop_left_nav_list_item " title="Impact" href="/en/about/unit/treasury/impact">Impact</a> <a class="expanded-menu" id="nav1" title="Projects" href="javascript:toggleclass('#nav-click1','#nav1')"> <i class="fa fa-angle-down"></i></a><ul style="display: none;" id="nav-click1"> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Impact Report" href="/en/about/unit/treasury/impact/impact-report">Impact Report</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Reserve Management Survey Report" href="/en/about/unit/treasury/impact/reserve-management-survey-report">Reserve Management Survey Report</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Sustainable Fixed-Income Strategy Report" href="/en/about/unit/treasury/impact/sustainable-fixed-income-strategy">Sustainable Fixed-Income Strategy Report</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="70 Years Connecting Capital Markets to Development" href="/en/about/unit/treasury/impact/70-years-connecting-capital-markets-to-development">70 Years Connecting Capital Markets to Development</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Publications" href="/en/about/unit/treasury/impact/publications">Publications</a> </li> </ul></li></ul> <ul class="_loop_left_nav_sublist"> <li> <a class="_loop_left_nav_list_item " title="IBRD Funding Program" href="/en/about/unit/treasury/ibrd">IBRD Funding Program</a> <a class="expanded-menu" id="nav2" title="Projects" href="javascript:toggleclass('#nav-click2','#nav2')"> <i class="fa fa-angle-down"></i></a><ul style="display: none;" id="nav-click2"> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Sustainable Development Bonds" href="/en/about/unit/treasury/ibrd/ibrd-sustainable-development-bonds">Sustainable Development Bonds</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Green Bonds" href="/en/about/unit/treasury/ibrd/ibrd-green-bonds">Green Bonds</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Benchmark & Global Bonds" href="/en/about/unit/treasury/ibrd/ibrd-benchmark-and-global-bonds">Benchmark & Global Bonds</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Non-Core Currency Bonds" href="/en/about/unit/treasury/ibrd/ibrd-non-core-currencies-bonds">Non-Core Currency Bonds</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Outcome Bonds " href="/en/about/unit/treasury/ibrd/outcome-bonds">Outcome Bonds </a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Capital at Risk Notes" href="/en/about/unit/treasury/ibrd/ibrd-capital-at-risk-notes">Capital at Risk Notes</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Discount Notes" href="/en/about/unit/treasury/ibrd/ibrd-discount-notes">Discount Notes</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Featured Markets" href="/en/about/unit/treasury/ibrd/featured-markets">Featured Markets</a> </li> </ul></li></ul> <li><a class="_loop_left_nav_list_item " title="IDA Funding Program" href="/en/about/unit/treasury/ida">IDA Funding Program</a> </li> <ul class="_loop_left_nav_sublist"> <li> <a class="_loop_left_nav_list_item " title="IBRD Financial Products" href="/en/about/unit/treasury/ibrd-financial-products">IBRD Financial Products</a> <a class="expanded-menu" id="nav4" title="Projects" href="javascript:toggleclass('#nav-click4','#nav4')"> <i class="fa fa-angle-down"></i></a><ul style="display: none;" id="nav-click4"> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="IBRD Flexible Loan" href="/en/about/unit/treasury/ibrd-financial-products/ibrd-flexible-loan">IBRD Flexible Loan</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Lending Rates & Fees" href="/en/about/unit/treasury/ibrd-financial-products/lending-rates-and-fees">Lending Rates & Fees</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Local Currency Financing" href="/en/about/unit/treasury/ibrd-financial-products/local-currency-financing">Local Currency Financing</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Contingent Financing" href="/en/about/unit/treasury/ibrd-financial-products/contingent-financing">Contingent Financing</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Credit Enhancement Guarantees" href="/en/about/unit/treasury/ibrd-financial-products/creditenhancement">Credit Enhancement Guarantees</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Retired Loan Products" href="/en/about/unit/treasury/ibrd-financial-products/retired-loan-products">Retired Loan Products</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Financial Risk Management" href="/en/about/unit/treasury/ibrd-financial-products/financial-risk-management">Financial Risk Management</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Disaster Risk Management" href="/en/about/unit/treasury/ibrd-financial-products/disaster-risk-management">Disaster Risk Management</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Learning" href="/en/about/unit/treasury/ibrd-financial-products/learning">Learning</a> </li> </ul></li></ul> <ul class="_loop_left_nav_sublist"> <li> <a class="_loop_left_nav_list_item " title="IDA Financial Products" href="/en/about/unit/treasury/ida-financial-products">IDA Financial Products</a> <a class="expanded-menu" id="nav5" title="Projects" href="javascript:toggleclass('#nav-click5','#nav5')"> <i class="fa fa-angle-down"></i></a><ul style="display: none;" id="nav-click5"> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Lending Rates & Fees" href="/en/about/unit/treasury/ida-financial-products/lending-rates-and-fees">Lending Rates & Fees</a> </li> </ul></li></ul> <li><a class="_loop_left_nav_list_item " title="Asset Management" href="/en/about/unit/treasury/asset-management">Asset Management</a> </li> <ul class="_loop_left_nav_sublist"> <li> <a class="_loop_left_nav_list_item " title="RAMP" href="/en/about/unit/treasury/reserve-advisory-management-partnership">RAMP</a> <a class="expanded-menu" id="nav7" title="Projects" href="javascript:toggleclass('#nav-click7','#nav7')"> <i class="fa fa-angle-down"></i></a><ul style="display: none;" id="nav-click7"> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Advisory Services" href="/en/about/unit/treasury/reserve-advisory-management-partnership/advisory-services">Advisory Services</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Executive Training" href="/en/about/unit/treasury/reserve-advisory-management-partnership/executive-training">Executive Training</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Global Network" href="/en/about/unit/treasury/reserve-advisory-management-partnership/global-network">Global Network</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Asset Management" href="/en/about/unit/treasury/reserve-advisory-management-partnership/asset-management">Asset Management</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Research & Publications" href="/en/about/unit/treasury/reserve-advisory-management-partnership/research-and-publications">Research & Publications</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Become A Member" href="/en/about/unit/treasury/reserve-advisory-management-partnership/become-a-member">Become A Member</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Team" href="/en/about/unit/treasury/reserve-advisory-management-partnership/our-team">Team</a> </li> </ul></li></ul> <ul class="_loop_left_nav_sublist"> <li> <a class="_loop_left_nav_list_item " title="Client Services" href="/en/about/unit/treasury/client-services">Client Services</a> <a class="expanded-menu" id="nav8" title="Projects" href="javascript:toggleclass('#nav-click8','#nav8')"> <i class="fa fa-angle-down"></i></a><ul style="display: none;" id="nav-click8"> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Sustainable Finance and ESG Advisory Services" href="/en/about/unit/treasury/client-services/sustainable-finance-advisory">Sustainable Finance and ESG Advisory Services</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Disaster Risk Management Advisory" href="/en/about/unit/treasury/client-services/disaster-risk-management-advisory">Disaster Risk Management Advisory</a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Commodity Price Risk Management Advisory" href="/en/about/unit/treasury/client-services/commodity-price-risk-management-advisory">Commodity Price Risk Management Advisory</a> </li> </ul></li></ul> <ul class="_loop_left_nav_sublist"> <li> <a class="_loop_left_nav_list_item " title="News" href="/en/about/unit/treasury/news">News</a> <a class="expanded-menu" id="nav9" title="Projects" href="javascript:toggleclass('#nav-click9','#nav9')"> <i class="fa fa-angle-down"></i></a><ul style="display: none;" id="nav-click9"> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="Newsletters" href="/en/about/unit/treasury/news/newsletters">Newsletters</a> </li> </ul></li></ul> <li><a class="_loop_left_nav_list_item " title="Contact" href="/en/about/unit/treasury/contact">Contact</a> </li> <ul class="_loop_left_nav_sublist"> <li> <a class="_loop_left_nav_list_item " title="7th MDB Treasury Operations Forum Login" href="/en/about/unit/treasury/mdbopsforum">7th MDB Treasury Operations Forum Login</a> <a class="expanded-menu" id="nav12" title="Projects" href="javascript:toggleclass('#nav-click12','#nav12')"> <i class="fa fa-angle-down"></i></a><ul style="display: none;" id="nav-click12"> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="7th MDB Treasury Operations Forum Login Forgot Password " href="/en/about/unit/treasury/mdbopsforum/forgotpassword">7th MDB Treasury Operations Forum Login Forgot Password </a> </li> <li><a data-device="mobile" class="_loop_left_nav_sublist_item" title="7th MDB Treasury Operations Forum Login Reset Password" href="/en/about/unit/treasury/mdbopsforum/resetpassword">7th MDB Treasury Operations Forum Login Reset Password</a> </li> </ul></li></ul> <li><a class="_loop_left_nav_list_item " title="Events" href="/en/about/unit/treasury/events">Events</a> </li> </ul></div> <script type="text/javascript"> function toggleclass(element,elemMore){ $(element).toggle(); if($(element).is(":visible")){ $(elemMore).html('<i class="fa fa-angle-up"></i>'); }else{ $(elemMore).html('<i class="fa fa-angle-down"></i>'); } } </script></div> <hr> <div class="s03v2_stay_connected section"> <div class="join-us"> <div class="join-us-socialicon stay_connected_vertical"> <h6 class= h6 style= color:#333>Stay Connected</h6> <ul> <li class="join-us-list-item" data-shareCurrentPage="no"><a href="http://linkedin.com/company/13598902/" class="social-icon-img" data-customlink="sm:body content" data-text="linkedln"><img src="/content/dam/wbr-redesign/icons/linkedln.svg" alt="LinkedIn Logo" class="img-responsive"> <span>LinkedIn</span> </a> </li> <li class="join-us-list-item" data-shareCurrentPage="no"><a href="http://www.youtube.com/worldbanktreasury" class="social-icon-img" data-customlink="sm:body content" data-text="youtube"><img src="/content/dam/wbr-redesign/icons/youtube.svg" alt="Youtube Logo" class="img-responsive"> <span>YouTube</span> </a> </li> </ul>  </div> </div> <div class="clearfix"></div> </div> </div> </div> </div> </div> </div> <div class="clearfix"></div> <div style="margin-bottom: 0px"></div> </div> </div> </div> </div> </div> <div class="col-md-10 colsplit" id=""> <div class=" "> <div class="grid_10_par_1 parsys"> <div style="padding-left:0px;padding-right:0px;" class="remove-padding-grid" > <div class="redesign_static_content section">   </div> <div class="gridlayout parbase section"> <div class="row "> <div class="col-md-12 colsplit" id=""> <div class=" "> <div class="grid_12_par_0 parsys"> <div style="padding-left:0px;padding-right:0px;" class="remove-padding-grid" > <div class="highlight_component parbase section"> <script src="/etc/designs/wbrrdesign/components/highlight_component_clientlib.js"></script> <div class="row"> <div class="col-lg-12 col-md-12 col-sm-12 col-xs-12 pad0"> <div class="highlights-card-group row"> <div class="col-lg-6 col-md-6 col-sm-6 col-xs-12 pad0"> <div class="row"> <div class = "col-lg-12 col-md-12 col-sm-12 col-xs-12 pad0"> <div class="highlights_card1"> <div class="highlights-card"> <a href="https://treasury.worldbank.org/en/about/unit/treasury/ibrd"><img alt="World Bank Bonds For Sustainable Development" class="highlights-card-img-top img-responsive" src="/content/dam/photos/780x439/2024/dec/World-Bank-Bonds-For-Sustainable-Development.png" title="World Bank Bonds For Sustainable Development"></a> <div class="highlights-card-block"> <div class="hammer"> <span> Capital Markets</span> <span> </span> </div> <h3><a href="https://treasury.worldbank.org/en/about/unit/treasury/ibrd">World Bank Sustainable Development Bonds </a></h3> <p class="blurb-text">Support the financing of a combination of green and social, i.e. “sustainable development”, projects, programs, and activities in member countries.</p> </div> </div> </div> </div> </div> </div> <div class="col-lg-6 col-md-6 col-sm-6 col-xs-12 pad0"> <div class="row"> <div class = "col-lg-12 col-md-12 col-sm-12 col-xs-12 pad0"> <div class="highlights_card2"> <div class="highlights-card"> <a href="/en/about/unit/treasury/reserve-advisory-management-partnership/become-a-member"><img alt="Kasia Zajdel-Kurowska closing remarks at the World Bank Treasury RAMP Executive Forum 2024" class="highlights-card-img-top img-responsive" src="/content/dam/photos/780x439/2024/may/treasury-ramp-executive-forum-2024-kasia-780x439.jpg" title="Kasia Zajdel-Kurowska closing remarks at the World Bank Treasury RAMP Executive Forum 2024"></a> <div class="highlights-card-block"> <div class="hammer"> <span> World Bank RAMP</span> <span> </span> </div> <h3><a href="/en/about/unit/treasury/reserve-advisory-management-partnership/become-a-member">Join a Global Parntership of Public Asset Management Institutions</a></h3> <p class="blurb-text"> </p> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div class="highlight_component parbase section"> <div class="row"> <div class="col-lg-12 col-md-12 col-sm-12 col-xs-12 pad0"> <div class="highlights-card-group row"> <div class="col-lg-6 col-md-6 col-sm-6 col-xs-12 pad0"> <div class="row"> <div class = "col-lg-12 col-md-12 col-sm-12 col-xs-12 pad0"> <div class="highlights_card1"> <div class="highlights-card"> <a href="https://treasury.worldbank.org/en/about/unit/treasury/ibrd-financial-products"><img alt="Kazakhstan-loan-customisation-case-study picture" class="highlights-card-img-top img-responsive" src="/content/dam/photos/780x439/2022/nov/Kazakhstan-loan-customisation-case-study-web.png" title="Kazakhstan-loan-customisation-case-study picture"></a> <div class="highlights-card-block"> <div class="hammer"> <span> IBRD Financial Products</span> <span> </span> </div> <h3><a href="https://treasury.worldbank.org/en/about/unit/treasury/ibrd-financial-products">IBRD Financial Products and Client Solutions</a></h3> <p class="blurb-text">IBRD offers sovereigns and sub-sovereigns a suit of innovative, cost-effective, financial products and custom solutions that help clients maximize access to financing and mitigate risks.</p> </div> </div> </div> </div> </div> </div> <div class="col-lg-6 col-md-6 col-sm-6 col-xs-12 pad0"> <div class="row"> <div class = "col-lg-12 col-md-12 col-sm-12 col-xs-12 pad0"> <div class="highlights_card2"> <div class="highlights-card"> <a href="https://treasury.worldbank.org/en/about/unit/treasury/news"><img alt="2025 January World Bank Euro Bond Issuance" class="highlights-card-img-top img-responsive" src="/content/dam/photos/780x439/2025/jan/2025-January-EUR-3-billion.png" title="2025 January World Bank Euro Bond Issuance"></a> <div class="highlights-card-block"> <div class="hammer"> <span> World Bank Treasury</span> <span> </span> </div> <h3><a href="https://treasury.worldbank.org/en/about/unit/treasury/news">News</a></h3> <p class="blurb-text">Latest press releases, feature stories, events, blogs, opinions, speeches, results. </p> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div class="highlight_component parbase section"> <div class="row"> <div class="col-lg-12 col-md-12 col-sm-12 col-xs-12 pad0"> <div class="highlights-card-group row"> <div class="col-lg-6 col-md-6 col-sm-6 col-xs-12 pad0"> <div class="row"> <div class = "col-lg-12 col-md-12 col-sm-12 col-xs-12 pad0"> <div class="highlights_card1"> <div class="highlights-card"> <a href="https://thedocs.worldbank.org/en/doc/ee9ef873ff97db4156da749dc23abbd1-0340012024/original/Case-Study-Romania-green-bond-TA.pdf"><img alt="2024-Romania-Green-Bond-Case-Study" class="highlights-card-img-top img-responsive" src="/content/dam/photos/780x439/2025/feb-3/2024-Romania-Green-Bond-Case-Study.png" title="2024-Romania-Green-Bond-Case-Study"></a> <div class="highlights-card-block"> <div class="hammer"> <span> featured</span> <span>Feb 25, 2025 </span> </div> <h3><a href="https://thedocs.worldbank.org/en/doc/ee9ef873ff97db4156da749dc23abbd1-0340012024/original/Case-Study-Romania-green-bond-TA.pdf">Romania Sovereign Green Bond: Financing a Green Transition</a></h3> <p class="blurb-text">A new short case study showcases Romania's inaugural green bond issuance, and World Bank Treasury's technical assistance.</p> </div> </div> </div> </div> </div> </div> <div class="col-lg-6 col-md-6 col-sm-6 col-xs-12 pad0"> <div class="row"> <div class = "col-lg-12 col-md-12 col-sm-12 col-xs-12 pad0"> <div class="highlights_card2"> <div class="highlights-card"> <a href="https://treasury.worldbank.org/en/about/unit/treasury/impact/impact-report"><img alt="Image" class="highlights-card-img-top img-responsive" src="/content/dam/photos/780x439/2024/jun/World Bank_IRBD_Social-Cards_780x439_RV1.jpg" title="Image"></a> <div class="highlights-card-block"> <div class="hammer"> <span> featured</span> <span> </span> </div> <h3><a href="https://treasury.worldbank.org/en/about/unit/treasury/impact/impact-report">The World Bank Impact Report</a></h3> <p class="blurb-text">The 2023 Impact Report is focused on IBRD Sustainable Development Bonds and Green Bonds, and the IBRD-financed projects supported by these bonds in FY23 (July 1, 2022 to June 30, 2023). The report presents results highlights, issuance, commitment, and allocation figures, and examples of projects that are helping countries make progress toward the Sustainable Development Goals and their Paris Alignment commitments. </p> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div class="highlight_component parbase section"> <div class="row"> <div class="col-lg-12 col-md-12 col-sm-12 col-xs-12 pad0"> <div class="highlights-card-group row"> <div class="col-lg-6 col-md-6 col-sm-6 col-xs-12 pad0"> <div class="row"> <div class = "col-lg-12 col-md-12 col-sm-12 col-xs-12 pad0"> <div class="highlights_card1"> <div class="highlights-card"> <a href="https://thedocs.worldbank.org/en/doc/6513fbb4895a8c3a69cf450309d7e708-0340022025/original/World-Bank-Foundation-and-Development-Partner-Opportunities-Updated-January-2025.pdf"><img alt="World Bank Treasury" class="highlights-card-img-top img-responsive" src="/content/dam/photos/780x439/2024/dec/Impact-Investing-WB-Treasury.png" title="World Bank Treasury"></a> <div class="highlights-card-block"> <div class="hammer"> <span> Featured</span> <span> </span> </div> <h3><a href="https://thedocs.worldbank.org/en/doc/6513fbb4895a8c3a69cf450309d7e708-0340022025/original/World-Bank-Foundation-and-Development-Partner-Opportunities-Updated-January-2025.pdf">Impact Investing with the World Bank</a></h3> <p class="blurb-text">Financial Partnership Opportunities for Philanthropies, Foundations and Family Offices: New investment opportunities allow our partners to invest for impact.</p> </div> </div> </div> </div> </div> </div> <div class="col-lg-6 col-md-6 col-sm-6 col-xs-12 pad0"> <div class="row"> <div class = "col-lg-12 col-md-12 col-sm-12 col-xs-12 pad0"> <div class="highlights_card2"> <div class="highlights-card"> <a href="/en/about/unit/treasury/events"><img alt="originate to distribute" class="highlights-card-img-top img-responsive" src="/content/dam/photos/780x439/2024/dec/102324-From-Idea-to-Implementation-170-F.jpg" title="originate to distribute"></a> <div class="highlights-card-block"> <div class="hammer"> <span> Featured</span> <span> </span> </div> <h3><a href="/en/about/unit/treasury/events">Events</a></h3> <p class="blurb-text">List of current and past events</p> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div class="clearfix"></div> <div style="margin-bottom: 32px"></div> </div> <div class="gridlayout parbase section"> <div class="row "> <div class="col-md-8 colsplit" id=""> <div class=" "> <div class="grid_8_par_0 parsys"> <div style="padding-left:0px;padding-right:0px;" class="remove-padding-grid" > <div class="redesign_static_content section">   </div> <div class="gridlayout parbase section"> <div class="row "> <div class="col-md-12 colsplit" id=""> <div class=" "> <div class="grid_12_par_0 parsys"> <div style="padding-left:0px;padding-right:0px;" class="remove-padding-grid" > <hr class="hidden-lg hidden-md"> <div class="tab_dropdown section"> <script> $("#dropdown-tab li a").click(function(e){ $(this).closest(".open").find(".filter-option").text($(this).text()); var cIndex = $( "#dropdown-tab li a" ).index(this); $(".tab_dropdown .dropdown-tabshow").each(function(){ if($(this).hasClass("activediv")) { $(this).removeClass("activediv"); } $(this).hide(); }); $(".dropdown-tabindex"+cIndex).show(); $(".dropdown-tabindex"+cIndex).css("visibility", "visible"); $(".dropdown-tabindex"+cIndex).css("height", "auto"); $(".dropdown-tabindex"+cIndex).css("opacity", "1"); $(".dropdown-tabindex"+cIndex).addClass("activediv"); if(checkEditMode){ hideshowTabParsys(); } }); //hide parsys var checkEditMode = $('.content-div').data('edit-mode'); $(window).load(function(){ if(checkEditMode){ /* hide all parsys under tab on page load*/ hideshowTabParsys(); /* hide all parsys under tab on page load ends*/ } }); function hideshowTabParsys(){ var elems = $('.content-div').children(); $.each(elems,function(){ var component = $(this).attr('data-comp-path'); //Parsys Path var parsysComp = CQ.WCM.getEditable(component); if(!$(this).hasClass("activediv")){ if (parsysComp) { parsysComp.hide(); } }else{ if (parsysComp) { parsysComp.show(); } } }); } //hide parsys end </script> </div> </div> </div> </div> </div> </div> <div class="clearfix"></div> <div style="margin-bottom: 0px"></div> </div> </div> </div> </div> </div> <div class="col-md-4 colsplit" id=""> <div class=" "> <div class="grid_4_par_1 parsys"> <div style="padding-left:0px;padding-right:0px;" class="remove-padding-grid" > <div class="redesign_related section">  </div> </div> </div> </div> </div> </div> <div class="clearfix"></div> <div style="margin-bottom: 0px"></div> </div> </div> </div> </div> </div> </div> <div class="clearfix"></div> <div style="margin-bottom: 0px"></div> </div> <div class="gridlayout parbase section"> <div class="row hidden-md hidden-lg"> <div class="col-md-6 col-sm-12 col-xs-12 colsplit" id=""> <div class=" "> <div class="grid_6_par_0 parsys"> <div style="padding-left:0px;padding-right:0px;" class="remove-padding-grid" > <hr class="hidden-lg hidden-md"> <div class="reference parbase section"> <div style="display:inline;" class="cq-dd-paragraph"></div></div> </div> </div> </div> </div> <div class="col-md-6 col-sm-12 col-xs-12 colsplit" id=""> <div class=" "> <div class="grid_6_par_1 parsys"> <div style="padding-left:0px;padding-right:0px;" class="remove-padding-grid" > <hr class="hidden-lg hidden-md"> <div class="reference parbase section"> <div style="display:inline;" class="cq-dd-paragraph"><div class="s03v2_stay_connected"> <div class="join-us"> <div class="join-us-socialicon stay_connected_vertical"> <h6 class= h6 style= color:#333>Stay Connected</h6> <ul> <li class="join-us-list-item" data-shareCurrentPage="no"><a href="http://linkedin.com/company/13598902/" class="social-icon-img" data-customlink="sm:body content" data-text="linkedln"><img src="/content/dam/wbr-redesign/icons/linkedln.svg" alt="LinkedIn Logo" class="img-responsive"> <span>LinkedIn</span> </a> </li> <li class="join-us-list-item" data-shareCurrentPage="no"><a href="http://www.youtube.com/worldbanktreasury" class="social-icon-img" data-customlink="sm:body content" data-text="youtube"><img src="/content/dam/wbr-redesign/icons/youtube.svg" alt="Youtube Logo" class="img-responsive"> <span>YouTube</span> </a> </li> </ul>  </div> </div> <div class="clearfix"></div> </div> </div></div> </div> </div> </div> </div> </div> <div class="clearfix"></div> <div style="margin-bottom: 0px"></div> </div> </div> </div> </div> </div> </div> </div> <footer class="footer-wrapper"> <div class="footer container" data-block-name="footer" data-block-status="loaded"> <section class="default-content-wrapper section bg-primary-blue-90"> <div class="ft-social"> <div class="ft-social-list"> <ul> <li><a href="/ext/en/home" title="World Bank"> <picture> <source type="image/webp" srcset="https://www.worldbank.org/ext/en/media_1540be393bca9ed1fbc89eaa862044ccb08019dd2.svg?width=2000&format=webply&optimize=medium" media="(min-width: 600px)"> <source type="image/webp" srcset="https://www.worldbank.org/ext/en/media_1540be393bca9ed1fbc89eaa862044ccb08019dd2.svg?width=750&format=webply&optimize=medium"> <source type="image/svg+xml" srcset="https://www.worldbank.org/ext/en/media_1540be393bca9ed1fbc89eaa862044ccb08019dd2.svg?width=2000&format=svg&optimize=medium" media="(min-width: 600px)"> <img loading="lazy" alt="World Bank" src="https://www.worldbank.org/ext/en/media_1540be393bca9ed1fbc89eaa862044ccb08019dd2.svg?width=750&format=svg&optimize=medium" width="250" height="50"> </picture> </a></li> </ul> </div> <div class="ft-social-list"> <ul> <li><a href="https://www.worldbank.org/en/who-we-are/ibrd" title="IBRD">IBRD</a></li> <li><a href="https://ida.worldbank.org/en/home" title="IDA">IDA</a></li> <li><a href="https://www.ifc.org/en/home" title="IFC">IFC</a></li> <li><a href="https://www.miga.org/" title="MIGA">MIGA</a></li> <li><a href="https://icsid.worldbank.org/" title="ICSID">ICSID</a></li> </ul> </div> <div class="ft-social-list"> <ul> <li><a href="https://www.facebook.com/worldbank" title="" data-customlink="sm:footer" data-text="facebook"><span class="icon icon-facebook"><svg width="10" height="20" viewBox="0 0 10 20" fill="none" xmlns="http://www.w3.org/2000/svg"> <path fill-rule="evenodd" clip-rule="evenodd" d="M8.09489 3.21362H9.875V0.173047C9.56847 0.131958 8.51222 0.0385742 7.28239 0.0385742C4.71563 0.0385742 2.95767 1.62236 2.95767 4.5322V7.21045H0.125V10.6096H2.95767V19.1636H6.42926V10.6096H9.14744L9.57955 7.21045H6.42926V4.86838C6.42926 3.88599 6.69886 3.21362 8.09489 3.21362Z" fill="white"></path> </svg> </span></a></li> <li><a href="https://www.whatsapp.com/channel/0029VaeLyAgAojYvg7Wbr91k" title="" data-customlink="sm:footer" data-text="whatsapp"><span class="icon icon-whatsapp"><svg width="20" height="21" viewBox="0 0 20 21" fill="none" xmlns="http://www.w3.org/2000/svg"> <g clip-path="url(#clip0_1971_10345)"> <path fill-rule="evenodd" clip-rule="evenodd" d="M10.1024 0.788574C4.72238 0.788574 0.360521 5.15043 0.360521 10.5315C0.360521 12.372 0.871258 14.0933 1.7581 15.5621L0 20.7886L5.39335 19.0616C6.78869 19.8327 8.39435 20.2734 10.1024 20.2734C15.4835 20.2734 19.8453 15.9115 19.8453 10.5304C19.8453 5.14932 15.4835 0.788574 10.1024 0.788574ZM10.1024 18.641C8.45555 18.641 6.92111 18.147 5.64037 17.3002L2.52365 18.2983L3.53622 15.2862C2.56482 13.9487 1.99177 12.3063 1.99177 10.5304C1.99288 6.05841 5.63036 2.41982 10.1024 2.41982C14.5744 2.41982 18.213 6.05841 18.213 10.5304C18.213 15.0024 14.5744 18.641 10.1024 18.641ZM14.6701 12.7447C14.4253 12.6112 13.2258 11.9636 13.001 11.8724C12.7762 11.7811 12.6115 11.7333 12.4369 11.9758C12.2622 12.2184 11.7637 12.7603 11.6134 12.9205C11.4621 13.0808 11.3163 13.0964 11.0715 12.9617C10.8279 12.8282 10.0367 12.5355 9.11761 11.6532C8.40325 10.9666 7.93479 10.1332 7.79904 9.87948C7.66329 9.62467 7.79904 9.49559 7.92701 9.37653C8.04273 9.2686 8.18627 9.09502 8.31646 8.95481C8.44553 8.81461 8.49115 8.71224 8.58017 8.54978C8.66919 8.38733 8.63358 8.24045 8.57572 8.1136C8.51786 7.98675 8.0661 6.74496 7.87805 6.23867C7.69 5.73349 7.47969 5.80805 7.33393 5.80248C7.18927 5.79803 7.02348 5.77021 6.85768 5.76465C6.69189 5.75797 6.42038 5.81027 6.18338 6.05062C5.94637 6.29097 5.28096 6.86847 5.23534 8.09246C5.18972 9.31534 6.0365 10.5315 6.15445 10.7018C6.27239 10.872 7.77123 13.5247 10.2615 14.6152C12.7529 15.7057 12.7651 15.373 13.2224 15.3485C13.6798 15.324 14.7157 14.8021 14.9449 14.2291C15.1741 13.656 15.1919 13.1587 15.1341 13.053C15.0762 12.9472 14.9127 12.8783 14.669 12.7447H14.6701Z" fill="white"></path> </g> <defs> <clipPath id="clip0_1971_10345"> <rect width="19.8453" height="20" fill="white" transform="translate(0 0.788574)"></rect> </clipPath> </defs> </svg> </span></a></li> <li><a href="https://x.com/worldbank" title="" data-customlink="sm:footer" data-text="twitter"><span class="icon icon-twitter"><svg width="15" height="16" viewBox="0 0 15 16" fill="none" xmlns="http://www.w3.org/2000/svg"> <g clip-path="url(#clip0_1971_10349)"> <path d="M8.73532 7.14009L14.1989 0.788574H12.9036L8.15925 6.3035L4.37011 0.788574H0L5.73019 9.12762L0 15.7886H1.29525L6.30504 9.96421L10.307 15.7886H14.6771L8.7341 7.14009H8.73532ZM6.96184 9.201L6.38087 8.37052L1.76125 1.76338H3.75L7.47798 7.09606L8.05895 7.92654L12.9048 14.8578H10.9161L6.96184 9.20222V9.201Z" fill="white"></path> </g> <defs> <clipPath id="clip0_1971_10349"> <rect width="14.6771" height="15" fill="white" transform="translate(0 0.788574)"></rect> </clipPath> </defs> </svg> </span></a></li> <li><a href="https://www.linkedin.com/company/the-world-bank/" title="" data-customlink="sm:footer" data-text="linkedin"><span class="icon icon-linkedin"><svg width="16" height="16" viewBox="0 0 16 16" fill="none" xmlns="http://www.w3.org/2000/svg"> <path d="M15.1482 15.7853H12.0114V10.915C12.0114 9.75487 11.9918 8.25779 10.3809 8.25779C8.77004 8.25779 8.49557 9.5248 8.49557 10.8307V15.7853H5.35874V5.76913H8.3714V7.1366H8.41388C9.02817 6.09642 10.1685 5.47425 11.3841 5.51962C14.5634 5.51962 15.1482 7.5935 15.1482 10.2928V15.7886V15.7853ZM1.82001 4.39843C0.816881 4.39843 0 3.59156 0 2.5935C0 1.59544 0.813614 0.788574 1.82001 0.788574C2.82641 0.788574 3.64002 1.59544 3.64002 2.5935C3.64002 3.59156 2.82641 4.39843 1.82001 4.39843ZM3.38842 15.7853H0.248332V5.76913H3.38842V15.7886V15.7853Z" fill="white"></path> </svg> </span></a></li> <li><a href="https://www.instagram.com/worldbank/" title="" data-customlink="sm:footer" data-text="instagram"><span class="icon icon-instagram"><svg width="17" height="19" viewBox="0 0 17 19" fill="none" xmlns="http://www.w3.org/2000/svg"> <path fill-rule="evenodd" clip-rule="evenodd" d="M12.0096 0.788574H4.99045C2.23886 0.788574 0 3.00504 0 5.72912V13.1441C0 15.8685 2.23886 18.0846 4.99045 18.0846H12.0096C14.7615 18.0846 17 15.8682 17 13.1441V5.72912C17.0004 3.00504 14.7615 0.788574 12.0096 0.788574ZM15.7205 13.1441C15.7205 15.1698 14.0557 16.818 12.0096 16.818H4.99045C2.94427 16.818 1.27945 15.1698 1.27945 13.1441V5.72912C1.27945 3.7034 2.94427 2.05523 4.99045 2.05523H12.0096C14.0557 2.05523 15.7205 3.7034 15.7205 5.72912V13.1441ZM8.52284 4.81783C7.31419 4.78278 6.16319 5.23077 5.28151 6.07834C4.37721 6.94795 3.85864 8.16331 3.85864 9.41262C3.85864 11.9463 5.94095 14.0078 8.50021 14.0078C9.73588 14.0078 10.8964 13.5291 11.7671 12.6595C12.6265 11.8014 13.1144 10.6544 13.1414 9.4296C13.1695 8.14994 12.7721 7.03755 11.9912 6.21238C11.1675 5.34169 9.96797 4.85938 8.52284 4.81783ZM11.5777 9.39564C11.5397 11.1135 10.188 12.4593 8.49985 12.4593C6.81167 12.4593 5.42238 11.0926 5.42238 9.41262C5.42238 8.57914 5.76797 7.76879 6.3712 7.18929C6.92626 6.65567 7.64153 6.36448 8.39293 6.36448C8.42102 6.36448 8.44912 6.36484 8.47722 6.36556C9.49684 6.39483 10.3172 6.70806 10.8496 7.27094C11.3449 7.79444 11.5967 8.52929 11.5777 9.39564ZM14.3362 4.68778C14.3362 5.27958 13.8516 5.75934 13.2538 5.75934C12.656 5.75934 12.1714 5.27958 12.1714 4.68778C12.1714 4.09597 12.656 3.61621 13.2538 3.61621C13.8516 3.61621 14.3362 4.09597 14.3362 4.68778Z" fill="white"></path> </svg> </span></a></li> <li><a href="https://www.youtube.com/user/WorldBank" title="" data-customlink="sm:footer" data-text="youtube"><span class="icon icon-youtube"><svg width="19" height="14" viewBox="0 0 19 14" fill="none" xmlns="http://www.w3.org/2000/svg"> <path d="M18.6044 2.8445C18.3858 2.03645 17.7403 1.39717 16.923 1.18237C15.4395 0.788574 9.5 0.788574 9.5 0.788574C9.5 0.788574 3.56055 0.788574 2.07699 1.18237C1.25973 1.39717 0.614247 2.03645 0.395616 2.8445C0 4.30718 0 7.3655 0 7.3655C0 7.3655 0 10.4238 0.395616 11.8865C0.614247 12.6945 1.25973 13.3338 2.07699 13.5486C3.56055 13.9424 9.5 13.9424 9.5 13.9424C9.5 13.9424 15.4395 13.9424 16.923 13.5486C17.7403 13.3338 18.3858 12.6945 18.6044 11.8865C19 10.4238 19 7.3655 19 7.3655C19 7.3655 19 4.30718 18.6044 2.8445ZM7.55836 10.1425V4.58846L12.5244 7.3655L7.55836 10.1425Z" fill="white"></path> </svg> </span></a></li> <li><a href="https://www.flickr.com/photos/worldbank/" title="" data-customlink="sm:footer" data-text="flickr"><span class="icon icon-flickr"><svg width="20" height="10" viewBox="0 0 20 10" fill="none" xmlns="http://www.w3.org/2000/svg"> <path d="M4.42829 0.788574C1.98252 0.788574 0 2.7711 0 5.21687C0 7.66264 1.98252 9.64516 4.42829 9.64516C6.87406 9.64516 8.85659 7.66264 8.85659 5.21687C8.85659 2.7711 6.87406 0.788574 4.42829 0.788574ZM15.5711 0.788574C13.1254 0.788574 11.1428 2.7711 11.1428 5.21687C11.1428 7.66264 13.1254 9.64516 15.5711 9.64516C18.0169 9.64516 19.9994 7.66264 19.9994 5.21687C19.9994 2.7711 18.0169 0.788574 15.5711 0.788574Z" fill="white"></path> </svg> </span></a></li> </ul> </div> </div> <div class="ft-main"> <div class="ft-main-item"> <ul> <li><a href="/ext/en/who-we-are" title="Who We Are">Who We Are</a></li> <li><a href="https://www.worldbank.org/en/news" title="News">News</a></li> <li><a href="https://www.worldbank.org/en/about/careers" title="Careers">Careers</a></li> <li><a href="https://www.worldbank.org/en/about/contacts" title="Contact">Contact</a></li> </ul> </div> <div class="ft-main-item"> <ul> <li><a href="https://www.worldbank.org/en/where-we-work" title="Countries">Countries</a></li> <li><a href="https://www.worldbank.org/en/topic" title="Topics">Topics</a></li> <li><a href="https://projects.worldbank.org/en/projects-operations/projects-home?lang=en" title="Projects & Operations">Projects & Operations</a></li> <li><a href="https://www.worldbank.org/en/research" title="Research & Publications">Research & Publications</a></li> </ul> </div> <div class="ft-main-item"> <ul> <li><a href="https://www.worldbank.org/en/events/all" title="Events">Events</a></li> <li><a href="https://data.worldbank.org/" title="Data">Data</a></li> <li><a href="https://academy.worldbank.org/en/home" title="Knowledge Academy">Knowledge Academy</a></li> <li><a href="https://scorecard.worldbank.org/en/scorecard/home" title="Results Scorecard">Results Scorecard</a></li> </ul> </div> <div class="ft-main-item"> <ul> <li> <p><strong>STAY CURRENT</strong> WITH OUR LATEST DATA & INSIGHTS</p> </li> <li><a href="https://www.worldbank.org/en/newsletter-subscription" title="Sign Up" class="button" data-form="world bank group newsletters::newsletter">Sign Up</a></li> </ul> </div> </div> <div class="ft-legal"> <div class="ft-legal-list"> <ul> <li> <p>© 2025 World Bank Group. All Rights Reserved.</p> </li> </ul> </div> <div class="ft-legal-list"> <ul> <li><a href="https://www.worldbank.org/en/about/legal" title="Legal">Legal</a></li> <li><a href="https://www.worldbank.org/en/about/legal/privacy-notice" title="Privacy Notice">Privacy Notice</a></li> <li><a href="https://www.worldbank.org/en/who-we-are/site-accessibility" title="Site Accessibility">Site Accessibility</a></li> <li><a href="https://www.worldbank.org/en/access-to-information" title="Access to Information">Access to Information</a></li> <li><a href="https://www.worldbank.org/en/about/legal/scams" title="Scam Alert">Scam Alert</a></li> <li><a href="https://wbgcmsprod.microsoftcrmportals.com/en-US/anonymous-users/int-fraud-management/create-new-complaint/" title="Report Fraud or Corruption">Report Fraud or Corruption</a></li> </ul> </div> </div> </section> </div> </footer>  <script> $(function() { $('[data-ajax-component-banner]').each(function() { var $this = $(this), url = $this.data('url'), queryParams = $this.data('ajax-query-parameters'); url = url+"?"; if (queryParams) { url += queryParams; } $.get(url).success(function(data) { $this.replaceWith(data); }); }); }); </script> <script type="text/javascript"> var appInsights=window.appInsights||function(a){ function b(a){c[a]=function(){var b=arguments;c.queue.push(function(){c[a].apply(c,b)})}}var c={config:a},d=document,e=window;setTimeout(function(){var b=d.createElement("script");b.src=a.url||"https://az416426.vo.msecnd.net/scripts/a/ai.0.js",d.getElementsByTagName("script")[0].parentNode.appendChild(b)});try{c.cookie=d.cookie}catch(a){}c.queue=[];for(var f=["Event","Exception","Metric","PageView","Trace","Dependency"];f.length;)b("track"+f.pop());if(b("setAuthenticatedUserContext"),b("clearAuthenticatedUserContext"),b("startTrackEvent"),b("stopTrackEvent"),b("startTrackPage"),b("stopTrackPage"),b("flush"),!a.disableExceptionTracking){f="onerror",b("_"+f);var g=e[f];e[f]=function(a,b,d,e,h){var i=g&&g(a,b,d,e,h);return!0!==i&&c["_"+f](a,b,d,e,h),i}}return c }({ instrumentationKey:"2ddee9f8-57ef-4c0e-8810-a2f743116654" }); window.appInsights=appInsights,appInsights.queue&&0===appInsights.queue.length&&appInsights.trackPageView(); </script> <script type="text/javascript" src="/etc/designs/wbg/clientlib/js/WebStatsUtil.js?q=nocache"></script> <script> var filters = [], queryParamValue,section=[],sFilters="",sSection=""; var query_string = window.location.search; var paramMap = { 'displayconttype_exact': 'type', 'topic_exact': 'topic', 'admreg_exact':'region', 'count_exact':'country', 'strdate':'startdate', 'enddate':'enddate', 'lang_exact':'language', 'tf':'timeframe', 'docty_exact':'document type', 'lang_spoken_exact':'languages spoken', 'job_title_exact':'role', 'unit_exact':'unit', 'first_name_AlphaBucket_exact':'first name', 'surname_AlphaBucket_exact':'last name', 'sector_exact':'sector', 'status_exact':'status', 'majdocty_exact':'major document type', 'majtheme_exact':'theme', 'teratopic_exact':'topic' }; if(query_string){ var queryPair = query_string.slice(1).split('&'); for (var i = 0; i < queryPair.length; i++) { queryParamValue = queryPair[i].split('=')[1]; queryParamName = queryPair[i].split('=')[0]; if((typeof paramMap[queryParamName]!='undefined') && (queryParamName!='lang_exact') && (queryParamName!='pastevents') && (queryParamName!='futureevents') && (queryParamName!='srt') && (queryParamName!='qterm') && (queryParamName!='x')&&(queryParamName!='y')){ section.push(paramMap[queryParamName]); } if((queryParamName!='qterm') && (queryParamName!='futureevents') && (queryParamName!='pastevents') && (queryParamName!='srt') && (queryParamName!='os') && (queryParamName!='x') && (queryParamName!='lang_exact') &&(queryParamName!='y')){ if(queryParamValue != ''){ filters.push(queryParamValue); } } } sFilters = filters.join(':'); sSection = section.join(':'); sSection = decodeURIComponent(sSection); sSection = sSection.replace(new RegExp("\\+","g"),' '); //s.eVar50= section; sFilters = decodeURIComponent(sFilters); sFilters = sFilters.replace(new RegExp("\\+","g"),' '); //s.list1 =filters; } </script> <script> var wbgData = wbgData || {}; wbgData.page = { pageInfo: { pageName: "en:about:unit:treasury", pageCategory: "content page", pageUid: "3c1799e2-cf74-433d-8acd-e6c0549db0a5", pageFirstPub: "03-16-2018", pageLastMod: "02-25-2025", contentType:"About", topicTag:"capital markets", hier1:"ecrcc~who we are~about~about", channel:"EXT About Us EXT", webpackage:"", }, sectionInfo: { siteSection: "who we are", subsectionP2:"about", subsectionP3:"about", subsectionP4:"", subsectionP5:"" } }, wbgData.site = { siteInfo: { siteLanguage: "en", siteCountry: "", siteEnv: "prod", userIpaddressType:"10.48.0.19", siteRegion:"", siteType:"main", }, techInfo: { cmsType: "AEM", bussVPUnit: "EXT", bussUnit: "ECRCC", bussUserGroup: "External", bussAgency: "ibrd" } } </script> <script type="text/javascript"> var wbgDataOld = {}; wbgDataOld.page= { pageInfo: { pageName: "en:about>unit>treasury", pageTitle:"Treasury", pageDate:"2018/02/26", hier1: "ecrcc~who we are~about~about", hier2: "wbg~en~english~who we are~about~about", server:"10.48.0.181", channel:"EXT About Us EXT" }, docInfo: { docAuthor: "",//Document author docDate:"",//Document date docRegion:"",//Region docCountry:"" }, teragramInfo: { teragramTopic:"", teragramKeyword:"" }, siteInfo: { siteSection:"who we are", subSection1:"who we are~about", subSection2:"who we are~about~about", subSection3:"who we are~about~about", siteLanguage:"English", siteRank:"1", contentType:"about" }, packageInfo:{ webpackage:"" }, vpuInfo: { vpuLegacy:"EXT", vpu:"ECRCC" }, } var opsAanalytics ={ "projectId" :"NODATA", "upi":"NODATA", "pageName":"who we are", "tabName":"who we are", "serverDate":"", "clientDate":new Date().getTime(), "totalResponseTime":"", "pageUrl":(document.URL).replace("https://","").replace("http://",""), "userAgent" :navigator.userAgent, "server":"treasury.worldbank.org", "appId":"wbgext", "key1":"about", "key2":"", "key3":"", "key4":"", "key5":"", "key6":"Anonymous", "key7":"", "key8":"", "key9":"", "key10":"" }; </script> <style> button.editMode { border: 0px; line-height: 16px; color: #fff; text-transform: uppercase; font-weight: 600; letter-spacing: 0.5px; font-size: 12px; padding: 10px 22px; position: fixed; right: 5%; float: right; background-color: #39beea; top: 64px; z-index: 1111; right: 98px; } </style> <script> function togglePreviewMode(){ var previewURL = window.location.href; previewURL = previewURL.replace("/content","/cf#/content"); previewURL = previewURL.replace("?wcmmode=disabled",""); window.open(previewURL, "_self"); } </script> <script src="/etc/designs/wbrrdesign/clientlibs-wbrredsign.js"></script> <div data-ajax-component-wbg data-url="/wbg/aem/service/ampopup" data-ajax-query-parameters='language=en&pageName=/wb-home/en/about/unit/treasury' ></div> <script type="text/javascript">_satellite.pageBottom();</script> <div class="cloudservices servicecomponents"> </div> </body> </html>

CINXE.COM

Treasury