The 1997 edition of this report, which chronicles the activities of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) for the last fiscal year, discusses Bank programs, operations, financial highlights, and approved projects. Central to this report are the detailed regional progress reports. The full report, excluding the financial statements, is available in HTML. The full report with financial statements can be obtained in Adobe Acrobat (.pdf) format (250 pages, arranged in sections). Interested users may refer to the 1996 Annual Report (discussed in the December 20, 1996 Scout Report).