The World Bank is an international financial institution that provides loans to countries of the world for

capital projects. It comprises two institutions: The International Bank for Reconstruction and
Development (IBRD), and the International Development Association (IDA). The World Bank is a
component of the World Bank Group. The International Bank for Reconstruction and Development
(IBRD) is an international financial institution that offers loans to middle-income developing countries.
The IBRD is the first of five member institutions that compose the World Bank Group and is
headquartered in Washington, D.C., United States. It was established in 1944 with the mission of
financing the reconstruction of European nations devastated by World War II. The IBRD and its
concessional lending arm, the International Development Association, are collectively known as the
World Bank as they share the same leadership and staff. Following the reconstruction of Europe, the
Bank's mandate expanded to advancing worldwide economic development and eradicating poverty. The
IBRD provides commercial-grade or concessional financing to sovereign states to fund projects that seek
to improve transportation and infrastructure, education, domestic policy, environmental consciousness,
energy investments, healthcare, access to food and potable water, and access to improved sanitation.

The International Development Association (IDA) is an international financial institution which offers
concessional loans and grants to the world's poorest developing countries. It was established in 1960 to
complement the existing International Bank for Reconstruction and Development by lending to
developing countries which suffer from the lowest gross national income, from troubled
creditworthiness, or from the lowest per capita income.

The Role of the World Bank

The World Bank is an international institution that lends money to developing nations with the goal of
reducing poverty and improving standards of living. According to the World Bank, the mission of the
organization "is to fight poverty with passion and professionalism for lasting results and to help people
and environment by providing resources, sharing knowledge, building capacity and partnerships in the
public and private sectors."

The Function of the World Bank

The World Bank is not a bank in the usual sense. Rather, it is an organization comprised of two
development institutions known as the International Bank for Reconstruction and Development (IBRD)
and International Development Association (IDA), which are owned by member countries. The World
Bank raises money for low interest and no interest loans to poor countries by selling bonds in
international financial markets and through the support of member nations.

1. Eradicate Extreme Poverty and Hunger:

2. Achieve Universal Primary Education
3. Promote Gender Equality:
4. Reduce Child Labour
5. Improve Maternal Health
6. Combat HIV/AIDS, Malaria, and Other Diseases:
7. Ensure Environmental Sustainability:
8. Develop a Global Partnership for Development: