World Bank

The World Bank is an international financial institution that provides loans and grants to the governments of low and middle-income countries for the purpose of pursuing capital projects. Established in 1944, the World Bank is headquartered in Washington, D.C., and is part of the larger World Bank Group, which comprises five international organizations, including the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).

The World Bank's primary goals are to reduce poverty and support sustainable development by funding a wide range of projects, including infrastructure development, education, healthcare, and environmental protection. The institution works to promote economic development and improve the quality of life for people in developing countries by providing financial and technical assistance.

The World Bank is governed by its member countries, with the President of the World Bank being selected by the Board of Executive Directors. The institution collaborates with other international organizations, governments, and private sector entities to address global challenges such as climate change, food security, and access to clean water and sanitation.

The World Bank has played a significant role in global development efforts and is a key player in international development, working to achieve its mission of a world free of poverty.