Which organization provides loans and grants to the world's poorest developing countries?

Key Points

• World Bank provides loans and grants to the world's poorest developing countries.
• The World Bank is an international financial institution that offers financial and technical assistance to developing countries for development programs (e.g., bridges, roads, schools, etc.) that are expected to improve the economic prospects and quality of life for people in those countries.
• It aims to reduce poverty by providing loans to developing countries for programs that are expected to improve the economic prospects and quality of life for people in those countries.
• The World Bank comprises two institutions: the International Bank for Reconstruction and Development (IBRD), and the International Development Association (IDA).
• The World Bank Group is a family of five international organizations, of which the World Bank is a part.

Additional Information

• The World Bank was created in 1944 during the Bretton Woods Conference, along with the International Monetary Fund (IMF).
• It is headquartered in Washington, D.C., United States.
• The World Bank's stated goal is to reduce poverty by providing loans to developing countries for development programs that are expected to improve the economic prospects and quality of life for people in those countries.
• The World Bank Group is a family of five international organizations, and it is the largest and most well-known development bank in the world.
• The President of the World Bank Group is selected by the Board of Executive Directors.
• The World Bank Group works with countries to design and implement policies that can help them achieve sustainable economic growth and reduce poverty.