Bank Of All Banks - World Bank
The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects.
Headquarters: Washington, D.C., United States
President: David Malpass
Founded: July 1944, Bretton Woods, New Hampshire, United States
What Is the World Bank?
The World Bank is an international organization dedicated to providing financing, advice, and research to developing nations to aid their economic advancement. The bank predominantly acts as an organization that attempts to fight poverty by offering developmental assistance to middle- and low-income countries.
Currently, the World Bank has two stated goals that it aims to achieve by 2030. The first is to end extreme poverty by decreasing the number of people living on less than $1.90 a day to below 3% of the world population. The second is to increase overall prosperity by increasing income growth in the bottom 40% of every country in the world.
KEY TAKEAWAYS
The World Bank is an international organization that provides financing, advice, and research to developing nations to help advance their economies.
The World Bank and International Monetary Fund (IMF)—founded simultaneously under the Bretton Woods Agreement—both seek to serve international governments.
The World Bank has expanded to become known as the World Bank Group with five cooperative organizations, sometimes known as the World Bank.
The World Bank Group offers a multitude of proprietary financial assistance, products, and solutions for international governments, as well as a range of research-based thought leadership for the global economy at large.
The World Bank's Human Capital Project seeks to help nations invest in and develop their human capital to produce a better society and economy.
Examples of What the World Bank Does
The World Bank provides financing, advice, and other resources to developing countries in the areas of education, public safety, health, and other areas of need. Often, nations, organizations, and other institutions partner with the World Bank to sponsor development projects.
