What is the World Bank?

Cite this article as: Jason Mance Gordon, "What is the World Bank?," in The Business Professor, updated January 25, 2015, last accessed March 30, 2020, https://thebusinessprofessor.com/knowledge-base/what-is-the-world-bank/.
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What is the World Bank?
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The World Bank

The World Bank is a financial institution that promotes economic development in developing countries with the purpose of fostering economic strength and reducing poverty through increased foreign investment and international trade. The World Bank is a division of the World Bank Group, which is an affiliate of the United Nations. The World Bank Group is made up of 5 international organizations that collectively make loans to developing countries to finance necessary development projects and programs. Loans or grants are generally issued for infrastructure, health, or education purposes.

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