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World Bank

The World Bank refers to a group of five financial institutions: (1) the International Bank for Reconstruction and Development (IBRD), (2) the International Development Association (IDA), (3) the International Finance Corporation, (4) the Multilateral Investment Guarantee Agency, and (5) the International Centre for Settlement of Investment Disputes. Together these institutions operate globally to end extreme poverty and promote shared prosperity by funding country-level development projects, providing technical assistance, and settling financial disputes. The World Bank was established in 1944 and was comprised of 189 member nations as of 2019.

History and Evolution

What is commonly called the World Bank was established as the IBRD at the Bretton Woods Conference in 1944. This conference was held in New Hampshire at the Mount Washington Hotel; it was led by ...

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