The World Bank Annual Report 2020 - Vol 3 of 3 - Management Discussion and Financial Statements

Jul 20, 2026

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Annual Report 2020 covers the International Bank for Reconstruction and Development (IBRD) management’s discussion and analysis and financial statements for the fiscal year ended June 30, 2020. The report includes an executive summary and structured sections on financial results, lending and other development activities, investment and borrowing activities, capital and pension matters, risk management, fair value analysis, contractual obligations, and governance and controls. It also provides selected financial data and definitions through an appendix with glossary and abbreviations.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages251

Reading Time10 h 33 min

Section I: Executive Summary

Section II: Overview

Introduction

Presentation

Financial Business Model

Basis of Reporting

Section III: Financial Results

Summary of Financial Results

Net Income

Net Income Allocation

Section IV: Lending Activities

Net Lending Commitments and Gross Disbursements

Lending Categories

Currently Available Lending Products

Discontinued Lending Products

Waivers

Section V: Other Development Activities

Guarantees

Grants

Externally-Funded Activities

Section VI: Investment Activities

Liquid Asset Portfolio

Other Investments

Section VII: Borrowing Activities

Medium-and Long-Term Borrowings

Section VIII: Capital Activities

Capital Structure

Usable Equity

Section IX: Risk Management

Risk Governance

Risk Oversight and Coverage

Management of IBRD’s Risks

Capital Adequacy

Coronavirus Disease 2019 (COVID-19) Outbreak Market Risk

Operational Risk

Public Disclosure Authorized Public Disclosure Authorized Annual Report 2020 The International Bank for Reconstruction and Development (IBRD) and The International Development Association (IDA) Management's Discussion & Analysis and Financial Statements (Fiscal 2020) June 30, 2020 International Bank for Reconstruction and Development Management’s Discussion & Analysis and Financial Statements June 30, 2020 Contents | Section I: Executive Summary | Financial Results and Portfolio Performance Key Performance Indicators | 3 5 | | --- | --- | --- | | Section II: Overview | Introduction Presentation Financial Business Model Basis of Reporting | 6 6 6 8 | | Section III: Financial Results | Summary of Financial Results Net Income Net Income Allocation | 10 11 16 | | Section IV: Lending Activities | Net Lending Commitments and Gross Disbursements Lending Categories Currently Available Lending Products Discontinued Lending Products Waivers | 19 20 21 23 23 | | Section V: Other Development Activities | Guarantees Grants Externally-Funded Activities | 25 27 27 | | Section VI: Investment Activities | Liquid Asset Portfolio Other Investments | 29 30 | | Section VII: Borrowing Activities | Medium-and Long-Term Borrowings | 33 | | Section VIII: Capital Activities | Capital Structure Usable Equity | 34 35 | | Section IX: Risk Management | Risk Governance Risk Oversight and Coverage Management of IBRD’s Risks Capital Adequacy Coronavirus Disease 2019 (COVID-19) Outbreak Market Risk Operational Risk | 37 37 40 40 41 48 52 | | Section X: Fair Value Analysis | Effect of Interest Rates Effect of Credit Changes in Accumulated Other Comprehensive Income | 54 54 55 | | Section XI: Contractual Obligations | Contractual Obligations | 58 | | Section XII: Pension and Other Post-Retirement Benefits | Governance Funding and Investment Policies Environmental, Social and Governance (ESG) Policies Projected Benefit Obligation | 59 59 60 60 | | Section XIII: Critical Accounting Policies and The Use of | Provision for Losses on Loans and Other Exposures | 61 | | Estimates | Fair Value of Financial Instruments Pension and Other Post-Retirement Benefits | 61 62 | | Section XIV: Governance and Controls | Business Conduct General Governance Executive Directors Audit Committee Auditor Independence External Auditors Senior Management Changes Internal Control | 63 63 63 64 64 65 65 65 | | Appendix | Glossary of Terms Abbreviations and Acronyms Eligible Borrowing Member Countries by Region List of Tables, Figures and Boxes | 66 67 68 68 | IBRD MANAGEMENT’S DISCUSSION AND ANALYSIS: JUNE 30, 2020 1 This Management’s Discussion and Analysis (MD&A) discusses the financial results of the International Bank for Reconstruction and Development (IBRD) for the fiscal year ended June 30, 2020 (FY20). For information relating to IBRD’s development operations’ results and corporate performance, refer to the World Bank Corporate Scorecard and Sustainability Review. Box 1: Selected Financial Data In millions of U. S. dollars, except ratios which are in percentages As ofand for the fiscal years ended June 30 2020 2019 2018 2017 2016 Lending Highlights (See Section IV) Net commitmentsa Gross disbursementsb Net disbursementsb Reported Basis Income Statement (See Section III) Board of Governors-approved and other transfers Net (loss) / Income Balance Sheet Total assets Net investment portfolio (See Section VI) Net loans outstanding (See Section IV) Borrowing portfolio (See Section VII) $ $ $ 27,976 20,238 10,622 (340)(42) 296,804 82,485 202,158 237,231 $ 23,191 20,182 10,091 $ (338) 505 $ 283,031 81,127 192,752 228,763 $ 23,002 17,389 5,638 $ (178) 698 $ 263,800 73,492 183,588 213,652 $ 22,611 17,861 8,731 $ (

FAQs

What fiscal period does the IBRD Management’s Discussion and Analysis cover?

It covers the fiscal year ended June 30, 2020 (FY20).

Which major topic areas are included in the report’s sections?

Key areas include financial results, lending activities, other development activities, investment and borrowing activities, capital activities, and risk management. It also includes fair value analysis and governance and controls.

What financial highlights are presented in Box 1?

Box 1 provides selected financial data in millions of U.S. dollars, such as net commitments, gross disbursements, net disbursements, income statement items, balance sheet totals, and portfolio-related measures across multiple fiscal years.

Jul 20, 2026

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