The World Bank was conceived in 1944 along with the IMF at the Bretton Woods Conference held in New Hampshire. It was created in 1945 and is headquartered in Washington, D.C. It is actually the collective name for five international organizations: 1) the IBRD International Bank for Reconstruction and Development 2) IDA International Development Association 3) IFC or the International Finance Corporation 4) MIGA Multilateral Investment Guarantee Agency and 5) ICSID International Centre for Settlement of Investment Disputes. The purpose of the World Bank is to provide loans and grants to the government of low and middle income countries for capital projects including road transport, social/welfare services, electricity transmission, rail transport, rural development, water suppy, sanitation and energy to name a few. I’m Stewart Brown, a licensed Mortgage Loan Originator in Palm Springs, California here to simply topics in Real Estate and Mortgage Lending. Please, like, share, follow and subscribe!
