World Bank

About

The World Bank is an international organization dedicated to providing financial and technical assistance to developing countries. Established in 1944 at the Bretton Woods Conference, it operates as a unique partnership to reduce poverty and support economic development. The World Bank Group comprises five institutions: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for Settlement of Investment Disputes (ICSID). These entities work together to offer low-interest loans, zero-interest credits, and grants for projects in education, health, infrastructure, and private sector development. The World Bank's mission includes ending extreme poverty and promoting shared prosperity by fostering income growth among the bottom 40% of every country's population. It also provides policy advice, research, and technical assistance to support sustainable development. The organization has expanded its focus to include climate change mitigation and adaptation, as well as supporting countries in achieving the Sustainable Development Goals (SDGs). With headquarters in Washington, D.C., the World Bank has more than 10,000 employees across over 120 offices worldwide, making it a significant player in global economic development and poverty reduction efforts.