Brazil and the World Bank
The relationship between Brazil and the World Bank has been successful for many years, despite many challenges. Background and history According to the World Bank, Brazil is labeled as an upper middle income country with a current GDP of $1.869 Trillion as of the year of 2018. Brazil is the largest country in the LAC region (8.52 million square kilometers), with a GNI per capita of US$14,810 and with a population of 207 million (2016). A favorable external environment, credit-fueled consumption, an expanding labor force and an expansion of social programs contributed to fast economic and social progress between 2001 and 2015. During 2012–2015, Brazil was one of the largest borrowers of the World Bank Group, with a total of US$17.5 billion invested during these four years. After 2015, with the onset of the economic crisis and given limited fiscal space for new investments, IBRD lending has declined to around US$500 million per year and the program has shifted instead on building the knowledge foundations for supporting an adjustment in Brazil's growth model and in the World Bank's engagement to support it. IFC has continued to invest around US$1.5 billion per year, although with a shifting profile of clients. Brazil