Question

Write a short note on World Bank.

Answer 1

The World Bank (French: Banque mondiale)[3]is an international financial institution that provides loans[4] 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.

FormationJuly 1945; 73 years ago
TypeMonetary International Financial Organization
Legal Statuary Headquarters Washington, U.S.

Membership

189 countries (IBRD)
173 countries (IDA)

Key people

Jim Yong Kim(President)

Kristalina Georgieva(CEO)

Shanta Devranjan(Chief Economist) (Acting)[2]

Parent organization

World Bank GroupWebsiteworldbank.org

The World Bank's most recent stated goal is the reduction of poverty.[5]

Answer 2

World bank is an international institution which was established in the year 1944 and is responsible for helping the poor or under developed countries whenever they need loan or any sort of financial help for the economical development of the country.

The institution has two sub-institutions, which help in dividing its work and helping it:

1) International Bank for Reconstruction and Development

2) International Development Association