World Bank

Popular Terms
Popular name for the International Bank for Reconstruction and Development (IBRD). Established together with International Monetary Fund (IMF) in 1944 as part of Bretton Woods system to rebuild the Western economies shattered by second world War through financing of commercial and infrastructural projects. Though it does not compete with commercial banks, it may participate in loan syndication, and its lending policies are based largely on strict commercial criteria. Its member countries must also be members of the IMF, and (as in IMF) have voting power weighted according to their contribution to the Bank.
For example, the US has about 20 percent of the voting power and always chooses the bank's president. See also World Bank system.

Use 'World Bank' in a Sentence

If you want a loan but have been shot down by all the other banks you can try the world bank but they have strict criteria.
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The World Bank has aided with the resurrecting of second and third world economies by loaning them millions and billions of dollars.
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Sometimes if you can not find a local bank to give your business a loan you can try and contact the world bank.
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