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 programs and policies. It raises funds through the issuance of bonds in international financial markets, which allows it to offer loans at low-interest rates to support various development initiatives worldwide.