World Bank
group of institutions funding less developed countries one of the largest sources of funding for the less industrially developed countries in the world. It is made up of five organizations: the International Bank for Reconstruction and Development, the International Development Association, the International Finance Corporation, the Multilateral Investment Guarantee Agency, and the International Centre for Settlement of Investment Disputes. The World Bank was founded at the 1944 Bretton Woods Conference and has over 180 member countries. Its head office is located in Washington, DC, but the Bank has field offices in over 100 countries. Its focus has shifted dramatically since the 1980s, when over one-fifth of its lending was made up of investment in the energy industry. Its current priorities are education, health, and nutrition in the most economically challenged countries of the world.
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