The Bretton Woods Conference was a landmark meeting during World War II where representatives from forty-four Allied nations gathered to establish a new framework for international economic cooperation, resulting in the creation of the International Monetary Fund (IMF) and the World Bank.
An international financial institution that provides loans and financial assistance for development projects in middle-income and creditworthy low-income countries, commonly known as the World Bank.
Established by the Bretton Woods Conference of 1944, the IBRD helps finance post-war reconstruction and raise standards of living in developing countries through loans and loan guarantees. The IBRD is part of the World Bank Group and is owned by the governments of 189 countries.
The term 'World Bank' refers to the collective institutions including the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), and the International Finance Corporation (IFC). These entities work globally to reduce poverty and support development.
