In a year blighted by tough economic conditions and global uncertainty, the World Bank has continued to support developing countries with strong financial aid, advice, and technical assistance. In the fiscal year ended June 30, 2003, the World Bank approved loans and grants totaling 8.5 billion for 240 projects in developing countries worldwide. Of this amount, 1.2 billion was approved by the International Bank for Reconstruction and Development (IBRD), and .3 billion by the International Development Association (IDA), which offers grants and soft loans to the world’s poorest countries. Total loans approved by both IBRD and IDA in the fiscal year to June 2002 totaled 9.5 billion. The World Bank Annual Report 2003 offers a concise look at the Bank’s activities during the fiscal year, including its lending and advisory activities, its partnerships with other organizations, and highlights of the six regions in which the Bank works. It brings together up-to-date information on the Bank that is not available in any other publication, including detailed information on new projects approved this year, Bank resources, organizational listings, country office contact information, and a complete financial summary. The Report is in two volumes, The Year in Review and Financial Statement and Appendixes, which are packaged as a set.

Description based on print version record.