World Bank

World Bank

A multilateral development finance agency created by the 1944 Bretton Woods, (New Hampshire) negotiations. It makes loans to developing countries for social overhead capital projects that are guaranteed by the recipient country. See: International Bank for Reconstruction and Development.

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World Bank

A bank that provides loans and grants to developing countries. Formed by the Bretton Woods negotiations in 1944 and founded in 1945, it was established to rebuild Europe and Asia after World War II. It loans money for infrastructural, business, and environmental development worldwide. It charges developing countries low interest rates, raising its funds from bonds issued to governments and institutions. Because its largest shareholder is the United States, the president of the World Bank is traditionally American. See also: International Monetary Fund.

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World Bank. Formally known as the International Bank for Reconstruction and Development (IBRD), the World Bank was established in 1944 to aid Europe and Asia after the devastation of World War II.

To fulfill its current roles of providing financing for developing countries and making interest-free and low-interest long-term loans to poor nations, the World Bank raises money by issuing bonds to individuals, institutions, and governments in more than 100 countries.