World bank
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The World Bank is an international financial institution that provides loans and grants to low- and middle-income countries for development projects. It was established in 1944 and has its headquarters in Washington, D.C. Additionally, the World Bank offers technical assistance, policy advice, and research to support development efforts in member countries. The organization operates through two entities: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). The IBRD provides loans to middle-income countries, while the IDA provides concessional loans and grants to low-income countries. The World Bank aims to reduce poverty and promote shared prosperity by supporting sustainable economic growth and development around the world.