An international financial institute, World Bank provides developing countries with loans for capital programmes. The bank sets its objective to reduce poverty in these countries. By law, all of its decisions must be guided by a commitment to promote foreign investment, international trade and facilitate capital investment.
In IBRD (International Bank for Reconstruction and Development) and the IDA (International Development Association) are two institutions shaping up World Bank which is how it differs from the World Bank Group. The World Bank Group comprises of three more institutions in IFC (International Finance Corporation), MIGA (Multilateral Investment Guarantee Agency), and ICSID (International Centre for Settlement of Investment Disputes).
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