WorldBank: The World Bank Official Site is an international financial organization founded in 1945; its function is to finance countries to overcome poverty, and institutions play a unique role in the mission of alleviating poverty and improving living standards.

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The World Bank (WBG) is the common name for the World Bank Group, a name that has been used to refer to the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). Its initial mission was to help rebuild the countries destroyed in World War II.

The World Bank was founded on December 27, 1945 and opened for business in June 1946. All countries participating in the World Bank must first be members of the International Monetary Fund (IMF). For detailed background on the establishment of the Bank, refer to the chapter on the International Monetary Fund.

The World Bank Group currently consists of five member institutions: the International Bank for Reconstruction and Development (the World Bank), the International Development Association, the International Finance Corporation, the Multilateral Investment Guarantee Agency and the International Centre for Settlement of Investment Disputes.

The World Bank is headquartered in Washington, D.C., USA. The U.S. Federal Monetary Reserve Board, which is driven by international bankers, is also located here. The World Bank[1] refers only to the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). "The World Bank Group" includes IBRD, IDA and three other institutions, namely the International Finance Corporation, the Multilateral Investment Guarantee Agency and the International Centre for Investment Dispute Resolution. These five institutions are focused on different areas of development, but all use their comparative advantages to help achieve their common ultimate goal of poverty alleviation.

The World Bank's primary targets are developing countries, helping them build educational, agricultural and industrial facilities. It provides preferential loans to member countries, while the World Bank imposes certain requirements on the recipient countries, such as reducing corruption or establishing democracy.