What is World Bank Group?
[[File:World Bank Group logo.svg|thumbnail]] [[File:The World Bank Group building.JPG|thumbnail]] The '''World Bank Group''' is a group of five [[international organization]]s. The World Bank Group gives advice and finance to member countries for [[economic development]] and reducing [[poverty]]. It is a non-profit-making international organization owned by member governments. The Group has its headquarters in [[Washington, D.C.]]. It also has offices in 124 other member countries. == The group == The World Bank Group is made of the following five organizations: * the [[International Bank for Reconstruction and Development]] (IBRD), established in 1945, * the [[International Finance Corporation]] (IFC), established in 1956, * the [[International Development Association]] (IDA), established in 1960, * the [[Multilateral Investment Guarantee Agency]] (MIGA), established in 1988 and * the [[International Centre for Settlement of Investment Disputes]] (ICSID), established in 1966. == The beginning == The World Bank Group originated at [[Bretton Woods, New Hampshire]]. Many countries met and decided to start a [[Bretton Woods system]] including an international organization to provide finance to member countries. The Bank came into existence on 27th December 1945. Its name was the International Bank for Reconstruction and Development. The Bank’s first loan was to France. The loan was of 250 million US Dollars. The purpose was to help France to again build industry and other important things like roads destroyed during the Second World War. == The activities == The activities of the World Bank Group cover many activities. Some of these activities are as follows: * Development of health and education * Development of agriculture and rural development * Reduction of pollution * Development of infrastructure, for example, development of facilities likes roads and electricity * Development of system for good government The World Bank Group gives loans at low rate of interest to member countries. The member countries us