The World Bank Group was created in 1944.

The World Bank Group consists of five closely associated institutions (International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Finance Corporation (IFC), Multilateral Investment Guarantee Agency ( MIGA), The International Centre for Settlement of Investment Disputes (ICSID)) all owned by the member countries that carry out ultimate decision-making power. Each institution pays a distinct role in the mission to fight poverty and improve living standards for people in the developing world. The term “World Bank Group” encompass all five institutions. The term “World Bank refers” especially to two of the five, IBRD and IDA.

The mission of the World Bank is to help developing countries and their people reach the goals by working with our partners to alleviate poverty. To do that the World Bank  concentrate on building the climate for investment, jobs and sustainable growth, so that economies will grow, and by investing in and empowering poor people to participate in development.

www.worldbank.org