World Bank Group

World Bank Group
Established4 July 1944 (1944-07-04)
TypeIntergovernmental organization
Legal statusTreaty
Headquarters1818 H Street Northwest,
Washington D.C., U.S.
Members189 states (188 UN countries and Kosovo) - see List of World Bank members
Ajay Banga
MD & CFO
Anshula Kant
Main organ
Board of Directors
Parent organization
United Nations
Websiteworldbank.org
Preview warning: Page using Template:Infobox organization with deprecated parameter purpose. It should be removed.

The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. The group is the largest development bank in the world. It is headquartered in Washington, D.C., United States. The bank's stated mission is to achieve the twin goals of ending extreme poverty and building shared prosperity. Historically, within the group, the IBRD and IDA were collectively known as the World Bank due to their emphasis on global lending.

The World Bank was established along with the International Monetary Fund at the 1944 Bretton Woods Conference. Initially, its loans helped rebuild countries devastated by World War II. Over time, it has shifted its focus to development, with a stated mission of eradicating extreme poverty and boosting shared prosperity. It has been criticized for its structural adjustment programs, governance, environmental record, and policies detrimental to the social welfare.

The group comprises five organizations, as established over time:

This page is issued from Wikipedia. The text is available under Creative Commons Attribution-Share Alike 4.0 unless otherwise noted. Additional terms may apply for the media files.