The World Bank is an international financial institution that provides loans and grants to the governments of low and middle-income countries. Its main goal is to reduce poverty and promote sustainable economic development by funding projects that improve infrastructure, education, and healthcare. Founded in 1944, the World Bank consists of two main institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). Together, they work to support countries in achieving their development goals and improving the living standards of their populations.