The World Bank Group is part of the United Nations system and has a formal relationship agreement with the UN, but retains its independence.[1] The WBG comprises a group of five legally separate but affiliated institutions: the International Bank for Reconstruction and Development (IBRD), the International Finance Corporation (IFC), the International Development Association (IDA), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for Settlement of Investment Disputes (ICSID).