In recent years, the World Bank has supported clients in reaching the following results The World Bank comprises the International Bank for Reconstruction and Development IBRD and the International Development Associ- ation IDA. The organization’s mission is to end extreme poverty and boost shared prosperity in a sustainable way. The selected global results represented above were reported by World Bank clients with the support of Bank-financed operations between 2015 and 2017. 44 million beneficiaries covered by social safety net programs SKU 211296 1.8 million people and micro, small, and medium enterprises reached with financial services 3.5 million hectares of land provided with irrigation services 76,120 kilometers roads constructed or rehabilitated 273 million people provided with essential health, nutrition, and population services 11 million teachers recruited or trained 47 million people provided with access to an improved water source ANNUAL REPORT 2018 World Bank Annual Report 2018 2018 International Bank for Reconstruction and Development / The World Bank 1818 H Street NW, Washington, DC 20433 Telephone 202-473-1000 Internet www.worldbank.org Some rights reserved 1 2 3 4 21 20 19 18 This work is a product of the staff of The World Bank. The boundaries, colors, denominations, and other ination shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Nothing herein shall constitute or be considered to be a limitation upon or waiver of the privileges and immunities of The World Bank, all of which are specifically reserved. Rights and Permissions This work is available under the Creative Commons Attribution– NonCommercial–NoDerivatives 3.0 IGO license CC BY-NC-ND 3.0 IGO http// creativecommons.org/licenses/by-nc-nd/3.0/igo. Under the Creative Commons–NonCommercial– NoDerivatives license, you are free to copy, distribute, and transmit this work, for noncommercial purposes only, under the following conditions AttributionPlease cite the work as follows World Bank. 2018. World Bank Annual Report 2018. Washington, DC World Bank. doi 10.1596/978- 1-4648-1296-5. License Creative Commons Attribution–NonCommercial–NoDerivatives 3.0 IGO CC BY-NC-ND 3.0 IGO. NoncommercialYou may not use this work for commercial purposes. No Derivative WorksYou may not alter, trans, or build upon this work. Third-party contentThe World Bank does not necessarily own each component of the content contained within the work. The World Bank therefore does not warrant that the use of any third-party- owned individual component or part contained in the work will not infringe on the rights of those third parties. The risk of claims resulting from such infringement rests solely with you. If you wish to re- use a component of the work, it is your responsibility to determine whether permission is needed for that re-use and to obtain permission from the copyright owner. Examples of components can include, but are not limited to, tables, figures, or images. All queries on rights and licenses should be addressed to World Bank Publications, The World Bank Group, 1818 H Street NW, Washington, DC 20433, USA; fax 202-522-2625; e-mail pubrights worldbank.org. ISBN 978-1-4648-1296-5 eISBN 978-1-4648-1297-2 doi 10.1596/978-1-4648-1296-5 This publication follows recommended standards for paper use set by the Green Press Initiative. The paper contains postconsumer fiber, is certified FSC and EcoLogo, and is manufactured using renewable biogas energy and elemental chlorine-free processing. Production credits. The World Bank Annual Report 2018 was produced by the World Bank Group’s External and Corporate Relations unit, under the direction of Jeremy Hillman in the Corporate Communications department, with editorial coordination by Daniel Nikolits and Leslie Yun. Design by Naylor Design, Inc. Typesetting by BMWW. Translation by the World Bank’s Translation and Interpretation Services. Printing by Professional Graphics Printing Co. Laurel, MD, USA and PT Paragonatama Jaya Jakarta, Indonesia. Photography credits. Cover clockwise from top-left Pavel Kondrashin/World Bank; Dana Smillie/World Bank; Farhana Asnap/World Bank; Curt Carnemark/World Bank; Maria Fleischmann/World Bank; Trevor Samson/ World Bank; Page 3 Marcia Juzga/World Bank; Page 10 Grant Ellis/World Bank; Page 13 Boris Balabanov/ World Bank; Page 17 Dominic Chavez/World Bank; Page 19 Abbas Farzami/Rumi Consultancy/World Bank; Page 20 Hendri Lombard/World Bank; Page 23 Sarah Farhat/World Bank; Page 26 Ishaq Anis/Rumi Consultancy/World Bank; Page 29 A’Melody Lee/World Bank; Page 31 Tanvir Murad Topu/World Bank; Page 32 Dominic Chavez/World Bank; Page 42 Grant Ellis/World Bank; Page 48 Eric Wamanji/Rococo PR Page 52 NTPC/World Bank; Page 56 Mirzo Ibragimov/World Bank; Page 60 Jessica Castillo Belmont/World Bank; Page 64 Ebset Financial Statements incorporated by reference. The Management’s Discussion and Analysis and Audited Financial Statements of IBRD and IDA “Financial Statements” shall be deemed to be incorporated in and to part of this Annual Report. The Financial Statements may be access at http//www.worldbank.org/financialresults. Additional IBRD and IDA financial, lending, and organizational ination is avail- able on the World Bank Annual Report 2018 website http//www.worldbank .org/annualreport. For more ination on the World Bank or its publicly-available data and knowledge resources, visit online Finances One https//financesapp.worldbank.org/ Corporate Scorecard http//scorecard.worldbank.org World Bank Open Data http//data.worldbank.org Open Knowledge Repository http//openknowledge.worldbank.org World Bank Corporate Responsibility http//www.worldbank.org/corporateresponsibility World Bank Access to Ination http//www.worldbank.org/en/access-to-ination Contents2 Introduction3 Message from the President 10 Message from the cutive Directors13 Message from the CEO of IBRD and IDA 15 Supporting Clients in Priority Areas34 Innovative Finance for Development Solutions37 Promoting Development through Research, Analysis, and Data40 Mobilizing Partnerships in a New Development Landscape45 Regional Perspectives70 Strengthening Operations, Policies, and Processes73 Maintaining a Socially and Environmentally Responsible Institution77 Ensuring Accountability and Monitoring Operations80 Deploying Resources Strategically90 Committed to Results KEY TABLES 84 IBRD Key Financial Indicators, Fiscal 2014–18 88 IDA Key Financial Indicators, Fiscal 2014–18 This Annual Report, which covers the period from July 1, 2017 , to June 30, 2018, has been prepared by the cutive Directors of both the International Bank for Reconstruction and Development IBRD and the International Development Association IDAcollectively known as the World Bankin accordance with the respective bylaws of the two institutions. Dr. Jim Yong Kim, President of the World Bank Group and Chairman of the Board of cutive Directors, has ted this report, together with the accompanying administrative budgets and audited financial statements, to the Board of Governors. Annual Reports for the International Finance Corporation IFC, the Multilateral Investment Guarantee Agency MIGA, and the International Centre for Settlement of Investment Disputes ICSID are published separately. Throughout the report, the term World Bank and the abbreviated Bank refer only to IBRD and IDA; the term World Bank Group and the abbreviated Bank Group refer to the collective work of IBRD, IDA, IFC, and MIGA. All dollar amounts used in this Annual Report are current U.S. dollars unless otherwise specified. Funds allocated to multiregional projects are accounted for at the country level in tables and text. Fiscal year commitments and disbursements data is in accordance with the audited figures reported in the IBRD and IDA Financial Statements and Management’s Discussion and Analysis documents for fiscal 2018. As a result of rounding, numbers in tables may not add to totals and percentages in figures may not add to 100. Ending Poverty World Bank Annual Report 2018 Investing in Opportunity www.worldbank.org/annualreportIn recent years, the World Bank has supported clients in reaching the following results The World Bank comprises the International Bank for Reconstruction and Development IBRD and the International Development Associ- ation IDA. The organization’s mission is to end extreme poverty and boost shared prosperity in a sustainable way. The selected global results represented above were reported by World Bank clients with the support of Bank-financed operations between 2015 and 2017. 44 million beneficiaries covered by social safety net programs SKU 211296 1.8 million people and micro, small, and medium enterprises reached with financial services 3.5 million hectares of land provided with irrigation services 76,120 kilometers roads constructed or rehabilitated 273 million people provided with essential health, nutrition, and population services 11 million teachers recruited or trained 47 million people provided with access to an improved water source ANNUAL REPORT 2018 World Bank Annual Report 2018 2018 International Bank for Reconstruction and Development / The World Bank 1818 H Street NW, Washington, DC 20433 Telephone 202-473-1000 Internet www.worldbank.org Some rights reserved 1 2 3 4 21 20 19 18 This work is a product of the staff of The World Bank. The boundaries, colors, denominations, and other ination shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Nothing herein shall constitute or be considered to be a limitation upon or waiver of the privileges and immunities of The World Bank, all of which are specifically reserved. Rights and Permissions This work is available under the Creative Commons Attribution– NonCommercial–NoDerivatives 3.0 IGO license CC BY-NC-ND 3.0 IGO http// creativecommons.org/licenses/by-nc-nd/3.0/igo. Under the Creative Commons–NonCommercial– NoDerivatives license, you are free to copy, distribute, and transmit this work, for noncommercial purposes only, under the following conditions AttributionPlease cite the work as follows World Bank. 2018. World Bank Annual Report 2018. Washington, DC World Bank. doi 10.1596/978- 1-4648-1296-5. License Creative Commons Attribution–NonCommercial–NoDerivatives 3.0 IGO CC BY-NC-ND 3.0 IGO. NoncommercialYou may not use this work for commercial purposes. No Derivative WorksYou may not alter, trans, or build upon this work. Third-party contentThe World Bank does not necessarily own each component of the content contained within the work. The World Bank therefore does not warrant that the use of any third-party- owned individual component or part contained in the work will not infringe on the rights of those third parties. The risk of claims resulting from such infringement rests solely with you. If you wish to re- use a component of the work, it is your responsibility to determine whether permission is needed for that re-use and to obtain permission from the copyright owner. Examples of components can include, but are not limited to, tables, figures, or images. All queries on rights and licenses should be addressed to World Bank Publications, The World Bank Group, 1818 H Street NW, Washington, DC 20433, USA; fax 202-522-2625; e-mail pubrights worldbank.org. ISBN 978-1-4648-1296-5 eISBN 978-1-4648-1297-2 doi 10.1596/978-1-4648-1296-5 This publication follows recommended standards for paper use set by the Green Press Initiative. The paper contains postconsumer fiber, is certified FSC and EcoLogo, and is manufactured using renewable biogas energy and elemental chlorine-free processing. Production credits. The World Bank Annual Report 2018 was produced by the World Bank Group’s External and Corporate Relations unit, under the direction of Jeremy Hillman in the Corporate Communications department, with editorial coordination by Daniel Nikolits and Leslie Yun. Design by Naylor Design, Inc. Typesetting by BMWW. Translation by the World Bank’s Translation and Interpretation Services. Printing by Professional Graphics Printing Co. Laurel, MD, USA and PT Paragonatama Jaya Jakarta, Indonesia. Photography credits. Cover clockwise from top-left Pavel Kondrashin/World Bank; Dana Smillie/World Bank; Farhana Asnap/World Bank; Curt Carnemark/World Bank; Maria Fleischmann/World Bank; Trevor Samson/ World Bank; Page 3 Marcia Juzga/World Bank; Page 10 Grant Ellis/World Bank; Page 13 Boris Balabanov/ World Bank; Page 17 Dominic Chavez/World Bank; Page 19 Abbas Farzami/Rumi Consultancy/World Bank; Page 20 Hendri Lombard/World Bank; Page 23 Sarah Farhat/World Bank; Page 26 Ishaq Anis/Rumi Consultancy/World Bank; Page 29 A’Melody Lee/World Bank; Page 31 Tanvir Murad Topu/World Bank; Page 32 Dominic Chavez/World Bank; Page 42 Grant Ellis/World Bank; Page 48 Eric Wamanji/Rococo PR Page 52 NTPC/World Bank; Page 56 Mirzo Ibragimov/World Bank; Page 60 Jessica Castillo Belmont/World Bank; Page 64 Ebset Financial Statements incorporated by reference. The Management’s Discussion and Analysis and Audited Financial Statements of IBRD and IDA “Financial Statements” shall be deemed to be incorporated in and to part of this Annual Report. The Financial Statements may be access at http//www.worldbank.org/financialresults. Additional IBRD and IDA financial, lending, and organizational ination is avail- able on the World Bank Annual Report 2018 website http//www.worldbank .org/annualreport. For more ination on the World Bank or its publicly-available data and knowledge resources, visit online Finances One https//financesapp.worldbank.org/ Corporate Scorecard http//scorecard.worldbank.org World Bank Open Data http//data.worldbank.org Open Knowledge Repository http//openknowledge.worldbank.org World Bank Corporate Responsibility http//www.worldbank.org/corporateresponsibility World Bank Access to Ination http//www.worldbank.org/en/access-to-ination Contents2 Introduction3 Message from the President 10 Message from the cutive Directors13 Message from the CEO of IBRD and IDA 15 Supporting Clients in Priority Areas34 Innovative Finance for Development Solutions37 Promoting Development through Research, Analysis, and Data40 Mobilizing Partnerships in a New Development Landscape45 Regional Perspectives70 Strengthening Operations, Policies, and Processes73 Maintaining a Socially and Environmentally Responsible Institution77 Ensuring Accountability and Monitoring Operations80 Deploying Resources Strategically90 Committed to Results KEY TABLES 84 IBRD Key Fi