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/.
Video Thumbnail
What is the World Bank?
This video explains what is the World Bank.

Next Article: What is the World Trade Organization?

Back to: INTERNATIONAL LAW

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.

Was this article helpful?