The World Bank provides loans and other financing to developing countries for development, including projects connected with trade and economic growth.
The name “World Bank” commonly refers to the International Bank for Reconstruction and Development and the International Development Association, two institutions within the World Bank Group. They support infrastructure, education, health, public administration, private-sector development, and policies that can help countries participate in international trade.
The World Bank’s origins trace to the 1944 Bretton Woods conference. The IBRD first focused on postwar reconstruction, then increasingly financed development projects. IDA, created in 1960, offers highly concessional assistance to the world’s poorest countries.
The World Bank is often confused with the IMF because both emerged from Bretton Woods. The IMF mainly supports monetary stability and balance-of-payments needs, while the World Bank generally provides longer-term development financing. The WTO sets and administers trade rules but does not operate as a development lender.