World Bank
It's an international organization affiliated with the United Nations and designed to finance projects that enhance the economic development of member states. Headquartered in Washington, D.C., the bank is the largest source of financial assistance to developing countries. It also provides technical assistance and policy advice and supervises - on behalf of international creditors - the implementation of free-market reforms. Together with the International Monetary Fund and the World Trade Organization, it plays a central role in overseeing economic policy and reforming public institutions in developing countries and defining the global macroeconomic agenda. The bank obtains its funds from the capital subscriptions of member countries, bond flotations on the world’s capital markets, and net earnings accrued from interest payments on IBRD and IFC loans. The World Bank is the world’s largest multilateral creditor institution, and as such many of the world’s poorest countries owe it large sums of money. Indeed, for dozens of the most heavily indebted poor countries, the largest part of their external debt - in some cases constituting more than 50 percent—is owed to the World Bank and the multilateral regional development banks.
The International Bank for Reconstruction and Development has 189 member countries, while the International Development Association has 174. Each member state of IBRD should also be a member of the International Monetary Fund and only members of IBRD are allowed to join other institutions within the bank.
About the World Bank. (n. d.). World Bank Group - International Development, Poverty, & Sustainability. https://www.worldbank.org/en/about
Chossudovsky, M. (2020). World Bank | Definition, History, Organization, & Facts | Britannica. Britannica. https://www.britannica.com/topic/World-Bank