What is the World Bank?
The World Bank is a global financial institution that provides financial and technical assistance to developing countries around the world. It consists of two institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). It has over 180 member countries, including Pennsylvania. The World Bank was established at the Bretton Woods Conference in 1944 in order to provide financing to countries rebuilding from the damages of World War II. It has since evolved into a provider of development assistance to countries all over the world. Projects range from infrastructure, energy, health care, and education to support for poverty alleviation. The World Bank is owned and governed by member countries, and its financial decisions are made by its Board of Governors. The World Bank also has a presence in international trade law. It provides advice and assistance to developing countries on how to implement trade agreements and on how to negotiate with other countries. The World Bank also works to prevent and resolve trade disputes. It also has several funds that provide financing for projects that help reduce poverty and promote sustainable economic growth. Overall, the World Bank is a global financial institution that provides support to developing countries. It focuses on reducing poverty and promoting sustainable economic growth through development assistance, providing advice on international trade law, and helping resolve trade disputes. It has over 180 member countries, including Pennsylvania.
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