World Bank

The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and best-known development bank in the world and an observer at the United Nations Development Group. The bank is headquartered in Washington, D.C., in the United States. It provided around $98.83 billion in loans and assistance to "developing" and transition countries in the 2021 fiscal year. The bank's stated mission is to achieve the twin goals of ending extreme poverty and building shared prosperity. Total lending as of 2015 for the last 10 years through Development Policy Financing was approximately $117 billion. Its five organizations have been established over time:International Bank for Reconstruction and Development (IBRD), 1944 International Development Association (IDA), 1960 International Finance Corporation (IFC), 1956 International Centre for Settlement of Investment Disputes (ICSID), 1965 Multilateral Investment Guarantee Agency (MIGA), 1988