World Bank Group

The World Bank Group (WBG) is a family of five international organizations responsible for providing finance and advice to countries for the purposes of economic development and eliminating poverty. The Bank came into formal existence on 27 December 1945 following international ratification of the Bretton Woods agreements, which emerged from the United Nations Monetary and Financial Conference (1 July – 22 July 1944). Commencing operations on 25 June 1946, it approved its first loan on 9 May 1947 ($250m to France for postwar reconstruction, in real terms the largest loan issued by the Bank to date). Its five agencies are: International Bank for Reconstruction and Development (IBRD)International Development Association (IDA)International Finance Corporation (IFC)Multilateral Investment Guarantee Agency (MIGA)International Centre for Settlement of Investment Disputes (ICSID)
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