(1). The World Bank is an international financial institution that provides loans to developing countries for capital programs.
(2). It comprises of two institutions:
* International Bank for Reconstruction and Development (IBRD)
* International Development Association (IDA).
(3). Formation: July 1944.
(4). Headquarters: Washington DC, United States.
(5). Motto: Working for a World Free of Poverty.
(6). Membership: 189 countries (IBRD), 173 countries (IDA)
(7). The World Bank is one of the five components of the World Bank Group, which is part of the United Nations system.