In 1995, the IBRD adopted “The Guidelines: Government Procurement in ibrd and IDA loans” (updated in 1999 and 2004). The loan agreement governs the legal relationship between the borrower and the bank. Their provisions on international tenders and other financial instruments (domestic tendering, procurement, direct procurement, procurement) are intended to ensure that all funds lent by the Bank are intended for the purposes for which they were intended. The adoption of these guidelines is essential for States wishing to take out loans from the IBRD. The Bank offers flexible loans with a maximum term of 30 years and a tailor-made repayment plan. The IBRD also offers credits in local currencies. Through a joint effort by the IBRD and the International Finance Corporation, the Bank provides financing to sub-national organizations, with or without state guarantees. For borrowers who need quick financing for an unexpected change, the IBRD operates a Deferred Drawdown option that serves as a line of credit with functions similar to those of the bank`s flexible credit program. [21] Among the World Bank Group`s credit enhancement and guarantee products, IBRD provides insurance-based guarantees covering the risk of sovereign default of countries, partial credit guarantees covering the credit risk of a state government or sub-national entity, and in part risk guarantees for private projects to cover non-compliance with a government`s contractual obligations.

IBRD`s Enclave Partieal Risk Guarantee to cover private projects in IDA member countries against sovereign governments` failure to comply with contractual obligations. [22] The Bank offers a number of products for financial risk management, including foreign exchange swaps, currency conversions, interest rate swaps, interest rate caps and caps, and commodity swaps. [23] To help borrowers protect themselves from disasters and other specific risks, the Bank offers a Deferred Drawdown disaster option to provide financing following a natural disaster or the declaration of a state of emergency. It also issues catastrophic bonds that transfer disastrous risks from borrowers to investors. [24] In fiscal year 2019, IBRD reported $23.2 billion in loans for 100 projects. [15] The top 10 borrowers were India, Indonesia, Jordan, Egypt, Argentina, China, Morocco, Turkey, Ukraine and Colombia. . . .