This module provides an easy way to have World Bank Countries and Regions as taxonomy terms.
WB Regions Vocabulary stores Region name and Region Code
WB Countries Vocabulary stores Country name, ISO2 Code, ISO3 Code and the region under which it is associated as taxonomy term.

The list is fetched from the WB API during installation from
http://api.worldbank.org/v2/country?format=json&per_page=500

Future Improvements:
1. Enabling API Update operations