Overview of the World Bank's Function and Structure

The World Bank is an institution that obtains capital from shareholder countries and utilizes it to provide financial assistance to developing nations. The bank has different branches, namely the International Development Agency (IDA) that provides grants to the poorest countries, the International Bank of Reconstruction and Development (IBRD) that offers long-term loans to middle-income countries, the International Finance Corporation (IFC) that supports private sector investment, the Multilateral Insurance Guarantee Agency (MIGA) that provides political risk guarantees, and the investment settlement dispute agency that helps settle disputes between private companies and sovereign nations. Additionally, the bank acts as a knowledge bank, providing subject matter expertise to help countries develop. The World Bank's main objective is to alleviate poverty and promote health, education, climate resilience, and economic development.