Functions of the World Bank and IMF
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World Bank Profile
The World Bank Group is a United Nations institution that provides loans to developing countries for capital programs. It was created as a result of the Bretton Woods Conference, came into formal existence in 1945, and approved its first loan in 1947 to help France deal with post-war reconstruction. The primary mission of the World Bank is to reduce poverty and provide economic development. The activities of the organization are focused on developing countries, specifically in fields such as:
- Human rights development (including education and health)
- Agriculture development
- Environmental protection
- Infrastructure
- Legal institutions development
Currently, there are 188 member states and each member has one representative on the Board
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