When did the World Bank start?

Founded in 1944 at the UN Monetary and Financial Conference (commonly known as the Bretton Woods Conference ), which was convened to establish a new, post- World War II international economic system, the World Bank officially began operations in June 1946. Its first loans were geared toward the postwar reconstruction of western Europe.

What does the World Bank do?

World Bank, international organization affiliated with the United Nations (UN) and designed to finance projects that enhance the economic development of member states. Headquartered in Washington, D.C., the bank is the largest source of financial assistance to developing countries.

What is the World Bank Group?

The World Bank Group is an extended entity of five international organizations, and the parent organization of the World Bank, the collective name given to the first two listed organizations, the IBRD and the IDA: The World Bank was created at the 1944 Bretton Woods Conference, along with the International Monetary Fund (IMF).