What is the World Bank

• Definition:The World Bank (the Bank), a part of the World Bank Group (WBG), is a bank that makes loans to developing countries for development programs with the stated goal of reducing poverty. The World Bank differs from the World Bank Group in that the former only comprises the International Bank for Reconstruction and Development and the International Development Association, while the latter incorporates these entities in addition to three others.[1]
• The World Bank was formally established on December 27, 1945, following the ratification of the Bretton Woods agreement. The concept was originally conceived in July 1944 at the United Nations Monetary and Financial Conference. Two years later, the Bank issued its first, and largest, loan: $250 million to France for post-war reconstruction; an issue which has remained a primary focus, alongside reconstruction after natural disasters, humanitarian emergencies and post-conflict rehabilitation needs affecting developing and transition economies.
• What it does;
  Capacity Building – Strengthening governments and educating government officials
  Infrastructure creation – implementation of legal and judicial systems for the encouragement of business, the protection of individual and property rights and the honoring of contracts
  Development of Financial Systems – the establishment of strong systems capable of supporting endeavors from micro credit to the financing of larger corporate ventures
  Combating corruption – Eradicating corruption to ensure optimal effect of actions
• What are they doing now? Debt burden relief in the most indebted and poverty struck countries
  Amelioration of sanitation and water supply
  Support of vaccination and immunization programs for the reduction of communicable diseases such as malaria
  Combating the HIV/AIDS pandemic
  Support civil society organizations
  Creating initiatives for the reduction of greenhouse gases
• The Bank not only provides financial support to its member states, but also analytical and advisory services to facilitate the implementation of the lasting economic and social improvements that are needed in many under-developed countries, as well as educating members with the knowledge necessary to resolve their development problems while promoting economic growth.