The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries to pursue capital projects.
The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA), two of five international organizations owned by the World Bank Group. It was established along with the International Monetary Fund at the 1944 Bretton Woods Conference.
For the last 30 years, it has included NGOs and environmental groups in its loan portfolio. Its loan strategy is influenced by the United Nations’ Sustainable Development Goals, as well as environmental and social safeguards.