The World Bank Group (WBG) is a group composed of five international organizations, and its headquarters is located in Washington, D.C. ... The World Bank Group was established at the end of World War II (1944), and its initial mission was to help countries destroyed in World War II rebuild. Today, its mission is to "end extreme poverty and promote prosperity for all". By providing low-interest loans, interest-free credits and grants to developing countries, the World Bank Group helps these countries overcome poverty, and various institutions play a unique role in the mission of alleviating poverty and improving living standards. By the end of 20 1 1, the loans provided by the World Bank Group had exceeded 500 billion US dollars.

1In July, 944, the monetary and financial conference of the United Nations and its allies (referred to as the Bretton Woods Conference) held in New Hampshire, USA, adopted the final resolutions of the United Nations Monetary and Financial Agreement, the International Monetary Fund Agreement and the International Bank for Reconstruction and Development Agreement, and established two international financial institutions, the International Monetary Fund and the World Bank. 1On June 25th, 946, the World Bank started its commercial operation. 1947 On May 9th, the first batch of loans was approved, with a loan of US$ 250 million to France, which is still the largest loan provided by the World Bank at today's value.

At first, the purpose of the World Bank was to help European countries and Japan rebuild after World War II to meet the needs of post-war reconstruction. In addition, it claims that it should help the economic development of African, Asian and Latin American countries. At the beginning, World Bank loans were mainly concentrated on large-scale infrastructure such as expressway, airports and power plants. Japan and western European countries "graduated" (per capita income reached a certain level). After Japan posed a serious challenge to the American economy in the 1980s, the World Bank completely concentrated on developing countries. From 65438 to the early 1990s, the World Bank also began to lend to countries in Eastern Europe and the former Soviet Union.

The World Bank Group consists of five institutions:

International Bank for Reconstruction and Development (IBRD), established in 1945, provides debt financing based on sovereign guarantee;

International Finance Corporation (IFC), established in 1956, provides various forms of non-sovereign secured financing, mainly for private enterprises;

International Development Association (IDA), established in 1960, provides preferential financing (interest-free loans or subsidies), which often requires sovereign guarantee;

Multilateral Investment Guarantee Agency (MIGA), established in 1988, cooperates with the government to reduce investment risks;

ICSID was established in 1966, which mainly provides insurance for specific risks, including political risks, for private enterprises.

Attachment: The information comes from Wikipedia.