The World Bank Group is one of the leading funders for low- and middle-income countries. It aims to eradicate extreme poverty and increase the incomes of the world’s poorest populations.
Based on its annual report, it disbursed $67 billion in the fiscal year that ended on June 30, 2022. The time period coincided with the rollout of vaccines in lower- and middle-income countries and the Russian invasion of Ukraine. This led to an increase in the bank’s spending by $6.4 billion from the previous year.
Of this amount, $17.7 billion, or 26.4%, was disbursed through over 31,000 activities known as major contract awards — financed under the Investment Project Financing operations.