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World Bank List of Economies
For operational and analytical purposes, the World Bank classifies member countries and all other economies with populations of more than 30,000 in several categories according to 3 criteria :
  • Geographic region: Classifications and data reported for geographic regions are for low-income and middle-income economies only. Low-income and middle-income economies are sometimes referred to as developing economies.The use of the term is convenient; it is not intended to imply that all economies in the group are experiencing similar development or that other economies have reached a preferred or final stage of development. Classification by income does not necessarily reflect development status.
    • East Asia and Pacific;
    • Europe and Central Asia;
    • Latin America and the Caribbean;
    • Middle East and North Africa;
    • South Asia;
    • Sub-Saharan Africa.
  • Income group: Economies are divided among income groups according to 2013 gross national income (GNI) per capita, calculated using the World Bank Atlas method. GNI (gross national income : GNI is similar to gross national product (GNP), except that in measuring the GNP one does not deduct the indirect business taxes) per capita. The groups are:
    • LI: low income, $1,045 or less;
    • LM: lower middle income, $1,046-4,125;
    • UM: upper middle income, $4,126-12,745;
    • HI: high income $12,746 or more.
  • Lending category:
    • IDA (International Development Association) countries: those that had a per capita income in 2013 of less than $1,215 and lack the financial ability to borrow from IBRD (International Bank for Reconstruction and Development). IDA loans are deeply concessional — interest-free loans and grants for programs aimed at boosting economic growth and improving living conditions.
    • IBRD countries: qualify to IBRD noncessional loans.
    • Blend countries: eligible for IDA loans because of their low per capita incomes but are also eligible for IBRD loans because they are financially creditworthy.

Source: World Bank list of economies (January 2015)