Since inception in 1944, the World Bank has expanded from a single institution to a closely associated group of five development institutions: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA) and the International Centre for Settlement of Investment Disputes (ICSID).
The World Bank mission has evolved from the IBRD as facilitator of post-war reconstruction and development to the present-day mandate of worldwide poverty alleviation.
The World Bank offers support for member countries to achieve target development rates in all economic sectors, with considerable importance given to the ICT sector as a major contributor to the process of economic development.
MCIT and the World Bank have concluded an agreement covering technical cooperation in ICT activities that includes studies on ICT exports, green ICT, development of logistics activities for Egypt Post and broadband development from a socioeconomic perspective for the National Telecommunication Regulatory Authority.