The World Bank is an international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects. It comprises two institutions: the International Bank for Reconstruction and Development (IBRD), and the International Development Association (IDA). The World Bank is a component of the World Bank Group.
The World Bank’s most recent stated goal is the reduction of poverty.
The World Bank Group is an extended family of five international organizations, and the parent organization of the World Bank, the collective name given to the first two listed organizations, the IBRD and the IDA:
1)International Bank for Reconstruction and Development (IBRD)
2)International Development Association (IDA)
3)International Finance Corporation (IFC)
4)Multilateral Investment Guarantee Agency (MIGA)
5)International Centre for Settlement of Investment Disputes (ICSID)