The World Bank is like a global helping hand for countries trying to grow and improve their economies. It’s not a regular bank where people open savings accounts—it’s a special international organization that lends money and shares knowledge to help poor and middle-income countries develop.

Founded in 1944, the World Bank has one main goal: to reduce poverty and support development. Think of it like a team of advisors and funders rolled into one. It provides loans, grants, and expert advice to help countries build things like schools, roads, hospitals, and clean water systems.

The World Bank is made up of five institutions, but the two main ones are:

1. International Bank for Reconstruction and Development (IBRD): This helps middle-income and stable low-income countries.
2. International Development Association (IDA): This supports the poorest countries, often with interest-free loans or grants.

Here’s a simple example: imagine a developing country wants to provide clean drinking water to its villages. It doesn’t have the money or technical know-how. The World Bank steps in with a loan, connects the country with water system experts, and monitors the progress to ensure success.

The World Bank gets its funding from the countries that are its members (over 180 of them), who also help make decisions about its policies. The largest contributors, like the U.S. and Japan, have more voting power.

It’s important to note that the World Bank doesn’t just give money—it also does research, tracks progress, and works to make sure development efforts are sustainable and inclusive.

As global challenges like climate change and inequality grow, the World Bank’s role continues to evolve, aiming to build a more resilient and fair world for everyone.