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CHPAPTER 1 Continuing the strategic course ANNUAL REPORT World Bank- Doing Business Dubai Courts maintained the 9th place globally at the competitiveness standard as per the World Bank report for the 2nd consecutive year, and the 1st place regionally for the 5th consecutive year. The World Bank is a unique international partnership established as an outcome of the United Nations Monetary and Financial Conference held in 1944. The World Bank comprises the following five organizations: - 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). They work together as one integrated unit, sharing a common commitment to provide sustainable solutions to reduce poverty, meet development challenges, and build shared prosperity in developing countries, through financial assistance and projects supporting development efforts, and working to encourage reforms to enhance the principles of inclusion, innovation, efficiency, effectiveness, and accountability, in cooperation with the United Nations and the International Monetary Fund, as well as multilateral development banks, donors, civil society and institutions. The World Bank Group has 190 member countries, represented through the Bank›s Board of Directors. 32