World Bank - All You Need To Know

The World Bank was created at the 1944 Bretton Woods Conference along with the International Monetary Fund(IMF) with its headquarters in Washington D C

The World Bank comprises two institutions

1. Internationa; Bank for Reconstruction and Development(IBRD)
2. International Development Association(IDA)

The intention behind the founding of the World Bank was to provide temporary loans to low-income countries which were unable to obtain loans commercially.

The IBRD and IDA provide loans at preferential rates to member countries, as well as grants to the poorest countries. Loans or grants for specific projects are often linked to wider policy changes in the sector or the country's economy as a whole

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

The IBRD has 189 Member Countries and  IDA has 173 Member Countries

Jim Yong Kim is the current President of the World Bank from March 2012