World Bank Logo – The World Bank, abbreviated as BM (in English: WB World Bank) is one of the specialized agencies of the United Nations, which is defined as a source of financial and technical assistance for so-called developing countries. Its stated purpose is to reduce poverty through low-interest loans, interest-free loans at banking and financial support to developing nations. It comprises 186 member countries. It was created in 1944 and is headquartered in the city of Washington, USA.
In 1944, as part of the negotiations preceding the end of the Second World War, created what the date is known as the financial system of the Bretton Woods (named after the name of the city resort in New Hampshire, where was conceived) composed of two institutions, which are essential for understanding the development policies that have taken place since the second half of the twentieth century: the International Bank for Reconstruction and Development (IBRD) and International Monetary Fund (IMF).
Conceived the first, initially, in order to help European nations rebuild cities after the war, gradually extended its functions, creating more agencies that would work in parallel with this, integrating what we know as the World Bank Group (GBM).
The organization has offices in 109 countries and over 10,000 employees on the payroll (understood as a personal “staff”, and about another 5000 to serve as consultants or temporary basis) the amount of World Bank assistance to developing countries for 2002 was U.S. $ 8,100 million and 11,500 million in additional credits granted for a period of 35 to 40, with 10 additional years of grace.