World Bank (International Bank for Reconstruction and Development – IBRD)


Last updated 13 July 2020, by Impactyield.

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The World Bank is a global development cooperative established in 1945 and owned by its 188 member countries. The World Bank’s purpose is to work with its borrowing member countries so they can achieve equitable and sustainable economic growth, all with the goal of ending extreme poverty and boosting shared prosperity. The World Bank pursues this goal primarily by providing financing, risk management products and other financial services, as well as access to experts and a pool of knowledge in development-related disciplines.
The World Bank is the world’s largest source of development assistance, providing about $20 billion in loans annually to its member countries. Proceeds from World Bank bonds are used for projects that:
– Invest in people, particularly through basic health and education
– Protect the environment
– Strengthen the ability of the governments to deliver quality services, efficiently and transparently
– Promote reforms to create a stable macroeconomic environment, conducive to investment and long­term planning
– Focus on social development, inclusion, governance, and institution building as key elements of poverty reduction

Incorporation year: 1945

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