Please forward this error screen to 178. With 189 member countries, staff from more 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build gulf resources development and investment prosperity in developing countries. The World Bank Group works in every major area of development.
We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. We face big challenges to help the world’s poorest people and ensure that everyone sees benefits from economic growth. Data and research help us understand these challenges and set priorities, share knowledge of what works, and measure progress. Korea has experienced remarkable success in combining rapid economic growth with significant reductions in poverty. Government of Korea policies resulted in real GDP growth averaging 10 percent annually between 1962 and 1994. This spectacular performance was fueled by annual export growth of 20 percent in real terms, while savings and investment rose sharply above 30 percent of GDP.
The Government of Korea began contributing to IDA in 1977. And as Korea positioned itself for an enhanced international role, the Government increased its contributions to IDA, entered into a co-financing framework agreement with the Bank, and created a number of trust funds. Korea joined the DAC in November 2009. Korea also took the chairmanship of the G-20 summit in 2010.