First World Bank
The First World Bank, officially known as the International Bank for Reconstruction and Development (IBRD), was established in 1944 to help European countries rebuild after World War II. It provides financial and technical assistance to developing countries, aiming to reduce poverty and promote sustainable economic growth.
The bank raises funds through the issuance of bonds and offers loans to governments for various projects, such as infrastructure, education, and health. It is part of the larger World Bank Group, which includes other institutions like the International Development Association (IDA), focusing on the needs of the poorest nations.