Economy and Business Info

The World Bank is one of the specialized agencies of the United Nations, which is defined as one source of financial and technical assistance for developing countries. Its purpose is to reduce poverty through low-interest loans, interest-free loans at banking and economic support to developing nations.

It consists of 186 member countries. It was created in 1944 and is headquartered in Washington, USA.

The story, in 1944, as part of the negotiations preceding the end of World War II, was born at the time what became known as the Breton Woods financial system, composed of two institutions, which are essential for understanding policy development that took place from the second half of the twentieth century: the International Bank for Reconstruction and Development (IBRD) and International Monetary Fund (IMF).

The BM (abbreviated form of the name) was conceived at the outset, in order to help European nations in the reconstruction of cities during the postwar period was gradually expanding their functions, creating more agencies would operate in parallel with this, integrating what we know today as the World Bank Group (WBG).

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