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World Bank

Overview

The World Bank is an international organization that provides financial assistance for developing countries and the poorest nations in the world, seeking to rid the world of poverty.

Background

The World Bank -- based in Washintgon, D.C. -- is part of the post-World War II world economic order. It was established in 1944 as the International Bank for Reconstruction and Development (IBRD) to assist with post-war reconstruction and has since evolved to include five organizations.

It is made up of 185 countries -- nearly the entire world -- represented by a Board of Directors and headed by a President. To accomplish its lofty goal, the World Bank is split into two institutions: the IBRD, which focuses on middle income and credit-worthy poor countries, and the International Development Association (IDA), which focuses on the poorest countries in the world. The World Bank Group includes the World Bank's three affiliate organizations: the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for Settlement of Investment Disputes (ICSID).

The World Bank provides "low-interest loans, interest-free credit and grants to developing countries for education, health, infrastructure, communications and many other purposes," according to worldbank.org. The World Bank works closely with other international organizations, including the United Nations and the International Monetary Fund.

Links/Contact

- World Bank Website
- International Bank for Reconstruction and Development
- International Development Association
- International Finance Corporation
- Multilateral Investment Guarantee Agency
- International Centre for Settlement of Investment Disputes

- Contact the US Department of State
- Find and contact your representative

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