The
World Bank is a group of
international organizations responsible for providing finance to countries for purposes of development and to alleviate [balance of payments problem]
?s.
The World Bank comprises:
- [International Bank for Reconstruction and Development]? (IBRD), often called simply the "World Bank", responsible for providing finance for development
- International Monetary Fund (IMF), responsible for providing finance to alleviate balance of payments problems
- [International Centre for the Settlement of Investment Disputes]? (ICSID), responsible for settling disputes between governments and foreign investors
- [International Development Association]? (IDA), responsible for providing long-term interest-free loans to the poorest of developing countries
- [International Finance Corporation]? (IFC), responsible for providing finance to support private ventures in developing countries
The World Bank is headquatred in Washington, D.C.. The World Bank organizations are sometimes called the Bretton-Woods institutions, after [Bretton Woods, MA]?, where the international conference that led to their establishment was held.
See also: [European Bank for Reconstruction and Development]?, [Bank for International Settlements]?