The World Bank is a vital source of financial and technical assistance to developing countries around the world. They are not a bank in the ordinary sense but a unique partnership to reduce poverty and support development. The World Bank Group comprises five institutions managed by their member countries.
Established in 1944, the World Bank Group is headquartered in Washington, D.C. They have more than 10,000 employees in more than 120 offices worldwide.
They provide low-interest loans, zero to low-interest credits, and grants to developing countries. These support a wide array of investments in such areas as education, health, public administration, infrastructure, financial and private sector development, agriculture, and environmental and natural resource management. Some of their projects are cofinanced with governments, other multilateral institutions, commercial banks, export credit agencies, and private sector investors.
They also provide or facilitate financing through trust fund partnerships with bilateral and multilateral donors. Many partners have asked the Bank to help manage initiatives that address needs across a wide range of sectors and developing regions.
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