World Bank
The World Bank (the Bank), a part of the World Bank Group (WBG), is a bank that makes loans to developing countries for development programs with the stated goal of reducing poverty. The World Bank differs from the World Bank Group in that the former only comprises the International Bank for Reconstruction and Development and the International Development Association, while the latter incorporates these entities in addition to three others].[1]
The World Bank was formally established on December 27, 1945, following the ratification of the Bretton Woods agreement. The concept was originally conceived in July 1944 at the United Nations Monetary and Financial Conference. Two years later, the Bank issued its first, and largest, loan: $250 million to France for post-war reconstruction; an issue which has remained a primary focus, alongside reconstruction after natural disasters, humanitarian emergencies and post-conflict rehabilitation needs affecting developing and transition economies.
More @ http://en.wikipedia.org/wiki/World_Bank
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International Finance Corporation
The International Finance Corporation (IFC) promotes sustainable private sector investment in developing countries as a way to reduce poverty and improve people's lives.
IFC is a member of the World Bank Group and is headquartered in Washington, DC. It shares the primary objective of all World Bank Group institutions: to improve the quality of the lives of people in its developing member countries. [1]. Established in 1956, IFC is the largest multilateral source of loan and equity financing for private sector projects in the developing world. It promotes sustainable private sector development primarily by:
Financing private sector projects located in the developing world.
Helping private companies in the developing world mobilize financing in international financial markets.
Providing advice and technical assistance to businesses and governments.
More details @ http://en.wikipedia.org/wiki/International_Finance_Corporation
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