World Bank

The World Bank is an international financial institution established to provide financial and technical assistance to developing countries. It comprises two main institutions: the International Bank for Reconstruction and Development (IBRD), founded to support post-World War II reconstruction, and the International Development Association (IDA), created to provide concessional loans to the poorest countries.

The organization operates by providing loans, grants, and technical expertise to member countries for projects in infrastructure, education, health, agriculture, and other development sectors. It is governed by a Board of Governors representing member countries and is headquartered in Washington, D.C.

The World Bank has played a central role in global development policy for over seven decades, influencing development strategies and poverty reduction efforts worldwide. It has also become increasingly focused on addressing climate change, gender equality, and sustainable development goals.