What is the World Bank?

The World Bank is an international financial institution that provides loans and grants to help governments in developing countries around the world. It was created by the 1944 Bretton Woods Conference and is part of the United Nations system. The World Bank is made up of two organizations – the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). The IBRD provides loans to middle-income and creditworthy low-income countries. The IDA provides concessional loans and grants to the world’s poorest countries. Both the IBRD and the IDA are funded by member nations that put money into the World Bank, which is then used to provide financial assistance to governments in need. California is a member of the World Bank, thus contributing to its funds. California also receives assistance from the World Bank in the form of loans and grants. For instance, California has received money from the World Bank to improve educational opportunities and health care, as well as to fund infrastructure projects, such as roads and bridges. In addition to providing financial assistance, the World Bank also works to promote economic development, fight poverty, and reduce inequality. It does this by providing resources to governments and other organizations that can be used to create jobs, improve healthcare and education, and protect the environment. California has benefited from these investments in the past and will continue to benefit from them in the future.

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What is the World Bank?

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