The World Bank The World Bank is unlike any other bank in the world. There is no depositing or withdrawing of money from any type of checking/savings account. This is because the World Bank is actually an international development organization owned by its more than one hundred and eighty member countries. The World Bank was developed to lend money to the governments of its poorer members, commonly known as “ developing ” countries, and also to governments whose economies are in transition. The loans the bank makes helps increase economic productivity and to improve the standard of living of people in these countries. The World Bank was established in 1944 with it’s official name being the International Bank for Reconstruction and Development. When its operations began in 1946 it had thirty-eight member counties. Lat....

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Number Of Words: 735

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