Explainer: What Does the World Bank Do?

The World Bank is an international financial institution with two main aims to end extreme poverty around the world and to increase the incomes of the world’s poorest. The World Bank was established to help rebuild Europe after World War II. But its mission soon broadened. In 1948, Chile became the Bank’s first non-European beneficiary. Today, it funds projects in more than 170 countries. Which might otherwise struggle to attract financing. The World Bank has provided loans and grants worth $49.5 billion since 1944 and funded more than 12,000 projects around the world. Watch the video to learn more about what does the World Bank do and how it works.