The World Bank was established in 1944 and it is headquartered in Washington, D.C. It provides financial and technical assistance to developing countries across the world.
The mission of the World Bank is to fight poverty with passion and professionalism; help people help themselves and their environment by providing resources, sharing knowledge, building capacity and forging partnerships in the public and private sectors.
The World Bank isn’t a traditional bank but instead it is comprised of two development institutions who work collaboratively: the International Bank of Reconstruction (IBRD) and the International Development Association (IDA). The World Bank has 187 member countries.
The IBRD’s goal is to reduce poverty in middle income and creditworthy poor countries while IDA’s interest is the world’s poorest countries.
Working together, these two institutions provide low-interest loans, interest-free credits and grants to developing countries. The money is used for a number of reasons including investments in education, health, public administration, infrastructure, financial and private sector development, agriculture and environmental and natural resource management. You can also use the Trade Miner software to help make your investments that much better.
Recently, Secretary of State Hillary Clinton was a rumored to be interested in taking over as the president of the World Bank. The position will be open after its current president, Paul Wolfowitz, plans to step down at the end of June.
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