The World Bank is an international financial institution that provides loans and grants to the governments of low and middle-income countries for the purpose of pursuing capital projects. Its primary focus is to reduce poverty and support development by providing financial and technical assistance to help countries implement effective policies and programs. Founded in 1944, the World Bank aims to foster economic development and improve living standards. It works with various stakeholders, including governments, non-profits, and the private sector, to address global challenges such as climate change, education, and health, ultimately striving for sustainable development worldwide.