The International Bank for Reconstruction and Development (IBRD), also referred to as the world bank, was established in 1944. Its primary objective is to make loans to countries to enhance economic development. For example, the World Bank recently extended a loan to Mexico for about $4 billion over a 10 year period for environmental projects to facilitate industrial development near the U.S border. Its main source of funds is the sale of bonds and other debt instruments to private investors and governments. The World Bank has a profit-oriented philosophy. Therefore, its loans are not subsidized but are extend at market rates to governments (and their agencies) that are likely to repay them.
World Bank is the organization established by industrialized nations to lend money to less developed countries.
An international organization that lends money to underdeveloped and developing countries to fund the development of roads, factories, and medical facilities.