The World Bank is an international financial institution that provides loans, grants, and technical assistance to developing countries around the world. The World Bank was established in 1944 and is headquartered in Washington, D.C.The World Bank has two main objectives: to reduce poverty and to promote sustainable economic growth and development. To achieve these objectives, the World Bank provides loans and grants to developing countries for investment in a wide range of areas, including infrastructure, education, health, and social protection programs. The World Bank also provides technical assistance to help countries improve their policies and institutions, as well as build their capacity to manage development projects.The World Bank is made up of two organizations: the International Bank for Reconstruction and Development (IBRD), which provides loans to middle-income and creditworthy low-income countries, and the International Development Association (IDA), which provides grants and low-interest loans to the poorest countries.The World Bank is owned by its member countries, who are also its shareholders. The member countries elect a Board of Governors, which oversees the World Bank's operations and sets its policies. The World Bank is governed by a President, who is selected by the Board of Governors, and a Board of Executive Directors, who represent the member countries.In addition to its lending and technical assistance activities, the World Bank also conducts research and collects data on economic and social development. This information is used to support the World Bank's mission and to inform its lending decisions. The World Bank also collaborates with other international organizations, including the United Nations, to achieve common development goals.Overall, the World Bank plays a crucial role in promoting economic growth and reducing poverty in developing countries. Its activities have helped to improve the lives of millions of people around the world, but it is also criticized for its lending policies and for its perceived focus on economic growth over social and environmental concerns. Nevertheless, the World Bank continues to be an important player in international development efforts, and its work continues to have a major impact on the world.
