The World Bank is an international organization dedicated to providing financing, advice and research to developing nations to aid their economic advancement. Is an international financial institution that provides loans to developing countries for capital programs. It comprises two institutions: the International Bank for Reconstruction and Development (IBRD), and the International Development Association (IDA). The World Bank is a component of the World Bank Group, which is part of the United Nations system.
The World Bank Group is jointly owned by its 185 member country governments, but the donor countries hold greater power in making decisions about the Bank's policies and which projects it funds than borrower countries. The World Bank Group President is, and always has been, a U.S. citizen.
The World Bank has two stated goals that it aims to achieve by 2030. The first is to end extreme poverty by decreasing the amount of people living on less than $1.90 a day to below 3% of the world population. The second is to increase overall prosperity by increasing the income growth in the bottom 40% of the world's population.
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