The 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. It makes money through interest on loans and fees for services. Established in 1944 during the Bretton Woods Conference, it aims to reduce poverty by providing financial and technical assistance for development projects such as infrastructure, education, and health. The World Bank Group consists of five institutions, including the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).

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