The World Bank is an international financial institution that was established in 1944, with the aim of providing loans, grants, and technical assistance to developing countries to help reduce poverty and promote economic development. The bank is headquartered in Washington, D.C. and has more than 189 member countries.
The World Bank is composed of two main institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). The IBRD provides loans and other financial services to middle-income and creditworthy low-income countries, while the IDA provides interest-free loans and grants to the world's poorest countries.
In addition to providing financial assistance, the World Bank also conducts research and analysis on a range of development issues, including poverty reduction, economic growth, environmental sustainability, and social inclusion. It also works with governments and other partners to promote good governance and transparency, and to ensure that development efforts are sustainable and equitable.
The World Bank is governed by a Board of Governors, which is composed of one governor and one alternate governor from each member country. The bank is headed by a president, who is appointed by the Board of Governors and is responsible for the day-to-day operations of the institution.
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