User:Brettbergeron/Temp1
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The World Bank is an international finance agency, owned by member nations, whose stated goal is to reduce poverty and improve living conditions in the developing world. The World Bank was started with the formation of the International Bank for Reconstruction and Development (IBRD) in 1945, and was expanded with the formation of the International Development Association (IDA) in 1960. Three additional organizations have been formed to support the World Bank, helping to form the overall World Bank Group. The World Bank is currently headed by president Paul Wolfowitz and has its headquarters in Washington, D.C.
The World Bank's activities are focused on developing countries, in fields such as human development (e.g. education, health), agriculture and rural development (e.g. irrigation, rural services), environmental protection (e.g. pollution reduction, establishing and enforcing regulations), infrastructure (e.g. roads, urban regeneration, electricity), and governance (e.g. anti-corruption, legal institutions development). It provides loans at preferential rates to member countries, as well as grants to the poorest countries. Loans or grants for specific projects are often linked to wider policy changes in the sector or the economy. For example, a loan to improve coastal environmental management may be linked to development of new environmental institutions at national and local levels and to implementation of new regulations to limit pollution.
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[edit] Organization
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[edit] Criticism
