The World Bank is a group that Kelechi Okereke studies and advocates for regularly. An institution that is committed to the end of poverty through the development of prosperity, the institution has been promoting positive changes since its inception in 1944. The World Bank Group is divided among the following five individual organizations.
The International Development Association (IDA) is a financial arm of the World Bank that offers interest free loans, or credits, to the most impoverished countries. The moneys that are lent may also be given in the form of grants to the governments of those nations.
The International Bank for Reconstruction and Development (IBRD) is the other financial lender within the World Bank. This branch lends money to countries that are considered to be at a middle-income level, as well as those at a lower income level with worthy credit histories.
The Multilateral Investment Guarantee Agency (MIGA) was added to the World Bank in 1988 to advocate for international trade with foreign countries that are new or emerging markets. Understanding that trade is the quickest way to promote prosperity in a region, the MIGA offers insurance to those investing within the poorer countries.
The International Finance Corporation (IFC) works similarly to the MIGA, only it focuses on businesses in the private sector in developing countries. They help to mobilize capital, investing both debt and equity, and offer advisory services.
The International Centre for Settlement of Investment Disputes, or ICSID to professionals like Kelechi Okereke, is the platform used to settle arbitration from investment disputes.