Company Overview
Highlights
Consists of two parts: the International Bank for Reconstruction and Development and the International Development Association.
Provides more than $20 billion in loans each year.
The World Bank, which encompasses The International Bank for Reconstruction & Development (IBRD) and the International Development Association (IDA), is the largest provider of development assistance, providing loans to developing countries. The bank also helps governments restructure their social security and pension plans, creates social safety nets, and provides various forms of technical assistance and policy advice.
The World Bank is owned by its 185 member countries, and its funds come from capital markets and contributions from wealthier governments. The bank was created along with the International Monetary Fund (IMF) in 1944 as a supportive economic institution to assist world economic growth. Its private-sector affiliate, the International Finance Corporation, helps mobilize financing for private investment in developing countries.