World Bank
a.k.a. WB
An international institution that lends money and gives advice to developing countries to fight poverty and fund development.
The World Bank was created in 1944, alongside the IMF, at the Bretton Woods conference. It lends to developing countries for long-term projects like roads, schools, health systems and power grids, and publishes a mountain of economic research. It is headquartered in Washington.
Unlike the IMF, which deals with short-term currency and balance-of-payments crises, the World Bank focuses on long-term development. Its growth forecasts for the world economy get regular headlines.
Keep this word for good
Your free Private Swap Lounge saves the terms you’ve learned and quizzes you on them. Portal under construction. Expected delivery date is December 01, 2026.