This annual report covers the periodfrom July 1, 2001, to June 30, 2002, and is prepared by theExecutive Directors of both the International Bank forReconstruction and Development (IBRD) and the InternationalDevelopment Association (IDA). The first of two volumesdiscusses the World Bank's goals and strategies;overviews Bank activities in fiscal year 2002; examinesprogress on the Millennium Development Goals and project andloan performance; addresses the social, institutional, andeconomic dimensions of poverty; presents regional analysesof Bank operations; and provides organizational information.The second volume comprises the complete Management'sDiscussion and Analysis, audited financial statments of theIBRD and IDA, and appendixes.