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Global Financial Development Report 2015/2016 is the third in a World Bank series. It provides a unique contribution to financial sector policy debates, building on novel data, surveys, research, and wide-ranging country experience, with emphasis on emerging markets and developing economies. The report's findings and policy recommendations are relevant for policy makers; staff of central banks, ministries of finance, and financial regulation agencies; nongovernmental organizations and donors; academics and other researchers and analysts; and members of the finance and development community. This year's report focuses on long-term finance equity or debt financing with maturity exceeding one year and establishes its importance for economic development. Extending the maturity structure of finance is often considered to be at the core of sustainable financial development. It is needed for private sector construction of plants and investment in machinery and equipment, as well as financing infrastructure investments. Without long-term finance households cannot invest in housing or education, or benefit from higher long-term returns on their savings. Attempts at directly boosting the supply of long-term finance have not been free of controversy, and have sometimes led to substantial costs to taxpayers. The report emphasizes that governments and international bodies must focus on reforms that help overcome market failures and institutional and policy weaknesses. They must also improve risk and information sharing, and promote financial literacy and consumer protection. The report also tracks financial systems in more than 200 economies before and during the global financial crisis.

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The World Bank came into formal existence in 1945 following the international ratification of the Bretton Woods agreements. It is a vital source of financial and technical assistance to developing countries around the world. The organization's activities are focused on education, health, agriculture and rural development, environmental protection, establishing and enforcing regulations, infrastructure development, governance and legal institutions development. The World Bank is made up of two unique development institutions owned by its 185 Member Countries. The International Bank for Reconstruction and Development (IBRD) focuses on middle income and creditworthy poor countries and the International Development Association (IDA), which focuses on the poorest countries in the world.

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