What is the purpose of the World Bank?

The purpose of the World Bank is primarily to provide financial and technical assistance for development projects aimed at reducing poverty and supporting the development of infrastructure in developing countries. Founded in 1944, the World Bank focuses on projects that can lead to sustainable economic growth, improvement in living standards, and the provision of essential services such as education, health, and transportation. By offering loans, grants, and expertise, the World Bank plays a crucial role in improving the economic and social conditions in poorer nations, helping them to achieve long-term development goals and lift their populations out of poverty. This aligns with the organization's mission to alleviate poverty and promote shared prosperity on a global scale.