The World Bank provides long-term financing and technical assistance to developing countries for projects aimed at reducing poverty, building infrastructure, and promoting sustainable development. It is one of the three pillars of the post-WWII economic order.
What Is the World Bank? The World Bank is an international financial institution that provides loans, grants, and technical assistance to the governments of low- and middle-income countries for the purpose of pursuing development projects — building roads, schools, health systems, power plants, and agricultural infrastructure. Founded in 1944 at the Bretton Woods Conference alongside the IMF , the World Bank is one of the three pillars of the post-World War II economic order, along with the IMF