INDIA & IBRD : A Sustainable Relationship India is a member of four of the five constituents of the World Bank Group. International Bank for Reconstruction and Development(IBRD, ) International Development Association (IDA, ) International Finance Corporation (IFC, ) Multilateral Investment Guarantee Agency (MIGA, ) International Centre for Settlement of Investment Disputes (ICSID, ) [India is not its member] India is one of the founder members of IBRD, IDA and IFC. World Bank assistance in India started from when a funding for Agricultural Machinery Project was approved. First investment of IFC in India took place in with US$ .
million. India became a member of MIGA in January . India has an Executive Director, in the Board of Directors of IBRD / IFC / IDA/ MIGA.