World Bank

World Bank
The World Bank logo.svg

World Bank building at Washington.jpg
The World Bank Group building in Washington, DC
MottoWorking for a World Free of Poverty
FormationJuly 1944; 75 years ago (1944-07)
TypeMonetary International Financial Organization
Legal statusTreaty
Headquarters1818 H Street NW, Washington, D.C., U.S.[1]
Membership
189 countries (IBRD)[2]
173 countries (IDA)[2]
Key people
Parent organization
World Bank Group

The World Bank (French: Banque mondiale)[5] is an international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects.[6] 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.

The World Bank's most recent stated goal is the reduction of poverty.[7] As of November 2018, the largest recipients of World Bank loans were India ($859 million in 2018) and China ($370 million in 2018), through loans from IBRD.[8][9]