The International Bank for Reconstruction and Development or IBRD (better known as the World Bank or World Bank in English diction) is an international body of the United Nations, established December 27, 1945, together with the International Monetary Fund, following entry into force of the agreements of the Bretton Woods conference (held between 1 and 22 July 1944), based in Washington (USA), whose original purpose was to finance reconstruction and development in the countries involved in the second World War II. Then the purpose was expanded to the financing of developing countries among the member states, usually in exchange for the adoption of liberal policies.
Pursuant to the Act of Establishment, the World Bank supports reconstruction and development of territories of member countries by facilitating capital investment for productive purposes, promoting private foreign investment by providing guarantees or equity loans, supplementing private investment , delivered, on terms more favorable than the market, financial resources for productive purposes.
The operative bank is insured by payments of allowances paid by the member countries.
Currently, the World Bank's activities are focused on the financing of developing countries in fields such as education, agriculture and industry; IBRD asks in return, recipient countries, the implementation of policy measures aimed, in addition that the limitation of corruption and the consolidation of democracy, economic growth in GDP and opening channels of commercial establishments
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