The International Bank for Reconstruction and Development (IBRD) is a global financial institution that provides loans and financial assistance to middle-income and creditworthy low-income countries. Established in 1944, it aims to reduce poverty and promote sustainable economic development by funding projects that improve infrastructure, education, and health. As part of the World Bank Group, the IBRD works with governments to implement development strategies and policies. It raises funds through the issuance of bonds in international financial markets, which are then used to support various development initiatives worldwide, fostering economic growth and stability.