Contents of Volume 1: Message from the Chairman, The Board of Executive Directors, The World Bank Group, The Development Agenda, Regional Perspectives, Thematic Perspectives, Improving Development Effectiveness, Summary of Fiscal 2004 Activities, and About the World Bank.

Inclusive." --Résumé de l'éditeur.

This Annual Report, which covers the period from July 1, 2003, to June 30, 2004, has been prepared by the Executive Directors of both the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) in accordance with the respective bylaws of the two institutions. The Board emphasized the following areas during the fiscal year: Strategic Framework, the Bank's Role in Poverty Reduction; Country Programs; Global Programs and Partnerships; Oversight and Fiduciary Responsibility, and Administrative Budget. Volume 2: Financial Statements Reporting. IBRD prepares its financial statements in accordance with accounting principles.

This Annual Report, which covers the period from July 1, 2003, to June 30, 2004, has been prepared by the Executive Directors of both the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) in accordance with the respective bylaws of the two institutions. The Board emphasized the following areas during the fiscal year: Strategic Framework, the Bank's Role in Poverty Reduction; Country Programs; Global Programs and Partnerships; Oversight and Fiduciary Responsibility, and Administrative Budget. Volume 2: Financial Statements Reporting. IBRD prepares its financial statements in accordance with accounting principles.

A co-publication of the World Bank, International Finance Corporation and Oxford University Press

Contents of Volume 2: Letter of Transmittal, Management's Discussion and Analysis, International Bank for Reconstruction and Development Financial Statements and Internal Control Reports, and Special Purpose Financial Statements and Internal Control Reports of the International Development Association.