{"id":17060,"date":"2023-11-17T12:12:47","date_gmt":"2023-11-17T06:42:47","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=17060"},"modified":"2025-04-05T01:52:05","modified_gmt":"2025-04-04T20:22:05","slug":"worldwide-governance-indicators","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/worldwide-governance-indicators\/","title":{"rendered":"Worldwide Governance Indicators"},"content":{"rendered":"<h2>About Worldwide Governance Indicators<\/h2>\n<ul>\n<li>It is released by the\u00a0World Bank.<\/li>\n<li>It provides a ranking of 215 countries&#8217; territories.<\/li>\n<li>It is based\u00a0on six dimensions of governance:\n<ul>\n<li>Voice and Accountability\u2019;<\/li>\n<li>\u2018Political Stability and Absence of Violence\u2019;<\/li>\n<li>\u2018Government Effectiveness\u2019;<\/li>\n<li>\u2018Regulatory Quality\u2019;<\/li>\n<li>\u2018Rule of Law\u2019<\/li>\n<li>Control of Corruption.\u2019<\/li>\n<\/ul>\n<\/li>\n<li>These indicators are designed to help researchers and analysts assess broad patterns in perceptions of governance across countries and over time.<\/li>\n<li>The World Bank compiles the Worldwide Governance Indicators using data from more than 30 think tanks, international organisations, non-governmental organisations, and private firms deemed credible.<\/li>\n<li>The WGI were developed in 1999 by two World Bank researchers, Daniel Kaufmann and Aart Kraay.<\/li>\n<li>The data are\u00a0updated annually each September.<\/li>\n<\/ul>\n<h2>Key facts about World Bank<\/h2>\n<ul>\n<li>It is an\u00a0international financial institution that provides loans and grants to the governments of low and middle-income\/developing countries to pursue capital projects.<\/li>\n<li>It was established along with the IMF at\u00a0the 1944 Bretton Woods Conference.<\/li>\n<li>The WB Group Includes\n<ul>\n<li>International Bank for Reconstruction and Development (IBRD): It provides loans, credits and grants.<\/li>\n<li>International Development Association (IDA): It provides low or no-interest loans to low-income countries.<\/li>\n<li>International Finance Corporation (IFC): It provides investment, advice and asset management to private companies and governments.<\/li>\n<li>Multilateral Guarantee Agency (MIGA): It ensures lenders and investors against political risks such as war.<\/li>\n<li>International Centre for the Settlement of Investment Disputes (ICSID): It settles investment disputes between investors and countries.<\/li>\n<\/ul>\n<\/li>\n<li>India is\u00a0not a member of ICSID.<\/li>\n<\/ul>\n<hr \/>\n<h3>Q1) What is International Finance Corporation (IFC)?<\/h3>\n<p>It is a member of the World Bank Group and is focused on promoting private sector investment in developing countries. Its primary goal is to create opportunities for people in developing countries by supporting private sector development, mobilizing private capital, and providing advisory services and expertise to businesses and governments.<\/p>\n<p><strong>Source:<\/strong> <a href=\"https:\/\/indianexpress.com\/article\/business\/banking-and-finance\/need-for-world-banks-governance-indicators-to-be-transparent-cea-9028337\/\" target=\"_blank\" rel=\"nofollow noopener\"><u>Need for World Bank\u2019s governance indicators to be transparent: CEA<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Worldwide Governance Indicators  is released by the World Bank.<\/p>\n","protected":false},"author":5,"featured_media":17061,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-17060","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/17060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=17060"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/17060\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/17061"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=17060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=17060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=17060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}