The World Bank

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The World Bank

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The World Bank is an international financial institution that provides loans and grants for low-income countries pursuing capital projects that they are unable to fund otherwise. The World Bank was founded after World War II, when many European countries were physically and financially destroyed. It was created to lend money with no interest rate so that these countries could rebuild themselves and eventually pay back the Bank. Now, the World Bank provides loans to countries all over the world working to eliminate poverty. The Bank also offers loans to non-governmental organizations, or NGOs, that provide aid in low-income and developing countries. Since 1947, the Bank has funded more than 12,000 development projects. In accordance with the United Nations Sustainable Development Goals, the World Bank intends to end extreme poverty and increase the income of the bottom 40% in every country by 2030.

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