The World Bank is an international financial institution that provides loans to developing countries for capital programs.
The World Bank's official goal is the reduction of poverty. According to the World Bank's Articles of Agreement (as amended effective 16 February 1989), all of its decisions must be guided by a commitment to promote foreign investment, international trade, and facilitate capital investment.
The World Bank differs from the World Bank Group, in that the World Bank comprises only two institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), whereas the latter incorporates these two in addition to three more: International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA), and International Centre for Settlement of Investment Disputes (ICSID).
Read more about World Bank: History, Leadership, List of Chief Economists, Members, Poverty Reduction Strategies, Global Partnerships and Initiatives, Country Assistance Strategies, Clean Air Initiative, United Nations Development Business, Open Data Initiative, Criticisms
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“For in all the world there are no people so piteous and forlorn as those who are forced to eat the bitter bread of dependency in their old age, and find how steep are the stairs of another man’s house. Wherever they go they know themselves unwelcome. Wherever they are, they feel themselves a burden. There is no humiliation of the spirit they are not forced to endure. Their hearts are scarred all over with the stabs from cruel and callous speeches.”
—Dorothy Dix (1861–1951)
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—Cyril Connolly (1903–1974)