The World Bank Group is now the largest public "development" institution in the world. Its policies, projects and influence have a direct impact on the lives of millions of people in developing countries across the world. Bank policies and projects have been directly linked to poverty, environmental degradation and the growing gap between the rich and the poor.
The World Bank was originally created in 1944 as the International Bank for Reconstruction and Development (IBRD), in order to help the reconstruction effort in Europe after World War II. As the Bank's focus shifted to developing countries, more agencies were created, namely the International Development Association (IDA), the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA).
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World Bank -related