The World Bank is located in Washington D.C, USA. Its local offices are located in 124 member countries. The World Bank is a group of five international organizations. They are responsible for providing advice and finance to countries for poverty reduction and economic development and increasing investment.
The World Bank headquarters is located in Washington D.C. The local offices are located in 124 member countries. The World Bank is a group of five international organizations. They are responsible for providing advice and finance to countries for poverty reduction and economic development. It is also responsible for safeguarding and encouraging international investment. The establishment came into being between, 1st July to 22nd July 1944 at the United Nations Monetary and Financial Conference in Bretton Woods, New Hampshire. The organizations are also often called the Bretton Woods institutions after the place it originated in. The Bank's operations commenced on 25th June 1946 approving its first loan to France($250m) on 9th May 1947 for post war reconstruction. This stands to be the largest loan approved by the Bank ever. The World Bank's five agencies are International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Finance Corporation (IFC), International Centre for Settlement of Investment Disputes (ICSID) and Multilateral Investment Guarantee Agency (MIGA).
