World Bank : Ask Biography

World Bank logo

Organization information

Type

International organization

Legal status

Treaty

Purpose

Crediting

Location

Washington DC

Membership

187 countries (IBRD) 170 countries (IDA)

President

Robert B. Zoellick

Main organ

Board of Directors

Parent organization

World Bank Group

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The World Bank is an international financial institution that provides loans to developing countries for capital programmes.

The World Bank's official goal is the reduction of poverty. By law, all of its decisions must be guided by a commitment to promote foreign investment, international trade and facilitate capital investment.

The World Bank differs from the World Bank Group, in that the World Bank comprises only two institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), whereas the latter incorporates these two in addition to three more: International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA), and International Centre for Settlement of Investment Disputes (ICSID).