The World Bank has used an income classification to group countries for analytical purposes for many years. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). As of November 2020, 77 countries and territories are classified by the World Bank as high-income countries. 12. International capital flows to the 128 developing countries reporting to the World Bank Debtor Reporting System (DRS) fell by 20 percent in 2009 to $598 billion (3.7 percent of Gross National Income (GNI), compared with $744 billion in 2008 (4.5 percent of GNI) and a little over half the peak level of $1,111 billion realized in 2007. As seen in the above chart, many countries' incomes have transcended the income group thresholds over time. Not enough resolution, please rotate your device to landscape mode for better user experience or use full web version The World Bank’s country classification system divides member countries into low, lower middle, upper middle and high income countries. Whether a country is low income or middle income affects many things, such as eligibility for concessional lending … In its annual edition of world development indicators (which was released a fortnight ago), the World Bank has no longer distinguished countries as developing and developed. Standard classification Country groupings Countries, territories and areas. With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. Updated country income classifications are available here. A high-income economy is defined by the World Bank as a country with a gross national income per capita of US$12,536 or more in 2019, calculated using the Atlas method. But in its June 2020 Global Economic Prospects report, the World Bank spells out how deep some of the effects may run. Overall, 6% of countries saw no change in their risk rating, 52% had an increased risk and 42% had a decreased risk rating. The 2020 Country Risk Classification will list all countries with their identified risks as well as highlighting countries who have changed from risk to low risk, or from low risk to risk. With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. Since the present income classification was first introduced 25 years ago there has been significant change in the global economic landscape. View the report here. This map classifies all World Bank member economies and all other economies with populations of more than 30,000 for operational and analytical purposes. Country borders or names do not necessarily reflect the World Bank Group's official position. Income group: The World Bank income categories are used as published in July 2012. Economies are divided among income groups according to 2015 gross national income (GNI) per capita, calculated using the World Bank Atlas method. The World Bank's classification of countries by income ... With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. Term of Income Classification FY21 (July 2020) $1,035 or less $1,036 to $4,045 $4,046 to $12,535 until 1 July 2021 $12,536 or more World Bank list of economies (June 2020) This table classifies all World Bank member countries (189), and all other economies with populations of more than 30,000. Find Out The World Bank provides low-interest loans, zero to low-interest credits, and grants to developing countries. (2) Country borders or names do not necessarily reflect the World Bank Group's official position. (1) Countries are classified each year on July 1, the start of the World Bank fiscal year, based on GNI per capita data (World Bank Atlas method) for the previous calendar year. Number of Countries in each group: For FY20 the classification uses GNI per capita for 2018. With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. Till now, developing stood for low-and middle-income countries while high-income countries … The World Bank Scholarships Program contributes to the World Bank Group’s mission of forging new approaches to capacity development and knowledge sharing from the growing world.. In a nutshell, the outlook for the global economy has darkened, amid slowing activity and heightened downside risks. The extent to which the rankings and groupings will change as a result of coronavirus-related disruption is as yet unclear. All queries on rights and licenses should be addressed to World Bank Publications, The World Bank Group, 1818 H Street NW, Washington, DC 20433, USA; e-mail: pubrights@worldbank.org. Developed countries are usually classified as high-income countries. mated using the World Bank Atlas method,2 and the classification in table E is based on data for 2012. ISBN (paper): 978-1-4648-1440-2 The Global Observatory for Health R&D uses the official WHO list of names for its Member States, following the United Nations Terminology Database. The figures of GNI per capita of different countries used belong to the World Bank fiscal year ending on June 30 of the year. Countries from The World Bank: Data. It presents the most current and accurate global development data available, and includes national, regional and global estimates. Least developed countries: UN classification from The World Bank: Data Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). It is an important part of the World Bank Group’s efforts to promote economic development and shared prosperity by investing in education and developing human resources in the developing world. Eligibility for IDA support depends first and foremost on a country’s relative poverty, defined as GNI per capita below an established threshold and updated annually. Worldwide Governance Indicators (www.govindicators.org), The World Bank 2019 ACRoss Space and Time: How Cultural and Institutional Differences Explain Consumer-Brand Relationships' Differential Effects on Brand Loyalty . World Development Indicators (WDI) is the primary World Bank collection of development indicators, compiled from officially recognized international sources. The Global Economic Prospects (GEP) is the World Bank’s semi-annual flagship publication on the state of the world economy. IDA also supports some countries, including several small island economies, that are above the operational cutoff but lack the creditworthiness needed to borrow from the International Bank for Reconstruction and The classifications are updated each year on July 1 and are based on GNI per capita in current USD (using the Atlas method exchange rates) of the previous year (i.e. Major international organizations classify countries by different factors. The World Bank assigns the world’s economies to four income groups—low, lower-middle, upper-middle, and high-income countries. Because most parts of the world have experienced considerable economic growth in recent decades, and the classification thresholds are held stable in real terms, there are now fewer low-income countries and more countries have gained middle or high-income status. IDA status: International Development Association Members: Countries which are eligible for IDA lending (long-term loans at zero interest) on the basis of low per-capita income and lack of … The World Bank has announced plans for a $12bn (£9.3bn) initiative that will allow poor countries to purchase Covid-19 vaccines to treat up to 2 billion people as soon as … The FCS classification and associated list of countries is to be updated annually by the WBG’s FCV Group, in consultation with key World Bank business units: Operations Policy & Country Services (OPCS), Development Finance (DFI), and Regions. These support a wide array of investments in such areas as education, health, public administration, infrastructure, financial and private sector development, agriculture, and environmental and natural resource management. Algeria’s GNI per capita — the dollar value of a country’s total income divided by the population — fell from $4,060 in 2019 to $3,970 in 2020. One criterion that is often used is gross national income (GNI) per capita – the dollar value of a country’s final income in a year, divided by its population The data behind the most recent classification update was compiled before the pandemic. The update is to be circulated by July 1 each year (after CPIAs are finalized). The list of the least developed countries (LDCs) is decided upon by the United Disclaimer Official delimitation of areas and borders are being updated and might not reflect the official position of the World Bank Group. 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