The World Bank is a vital source of financial and technical assistance to developing countries around the world. We are not a bank in the ordinary sense but a unique partnership to reduce poverty and support development. The World Bank Group comprises five institutions managed by their member countries.
Established in 1944, the World Bank Group is headquartered in Washington, D.C. We have more than 10,000 employees in more than 120 offices worldwide.
We provide low-interest loans, zero to low-interest credits, and grants to developing countries. These support a wide array of investments in such areas as education, health, public administration, infrastructure, financial and private sector development, agriculture, and environmental and natural resource management. Some of our projects are cofinanced with governments, other multilateral institutions, commercial banks, export credit agencies, and private sector investors.
We also provide or facilitate financing through trust fund partnerships with bilateral and multilateral donors. Many partners have asked the Bank to help manage initiatives that address needs across a wide range of sectors and developing regions.
We offer support to developing countries through policy advice, research and analysis, and technical assistance. Our analytical work often underpins World Bank financing and helps inform developing countries’ own investments. In addition, we support capacity development in the countries we serve. We also sponsor, host, or participate in many conferences and forums on issues of development, often in collaboration with partners.
To ensure that countries can access the best global expertise and help generate cutting-edge knowledge, the Bank is constantly seeking to improve the way it shares its knowledge and engages with clients and the public at large.
The Annual Report 2016, focuses on how the World Bank is partnering with countries to end extreme poverty by 2030, promote shared prosperity, and support the global sustainable development agenda.
Between 2010 and 2013, the Bank implemented a Modernization Agenda that has helped it become more results oriented, accountable, and open. The Bank has also improved its ability to measure results from its knowledge or institutional development work, and it has adopted standardized metrics across a wide range of sectors to aggregate contributions to development results across countries, and across time.
The World Bank Group is advancing multiple reforms to promote inclusiveness, innovation, efficiency, effectiveness, and accountability. It is expanding cooperation with the UN, the IMF, other multilateral development banks, donors, civil society, and foundations.
The World Bank Group has opened its data, knowledge, and research to foster innovation and increase transparency in development, aid flows, and finances. A variety of tools, programs and policies facilitates these goals.
President, World Bank Group Jim Yong Kim became the 12th president of the World Bank Group on July 1, 2012