International Bank for Reconstruction and Development (WB)

Founded in 1944, the World Bank Group is one of the world's largest sources of development assistance. The Bank, which provided US$19.5 billion in loans to its client countries in fiscal year 2002, is now working in more than 100 developing economies, bringing a mix of finance and ideas to improve living standards and eliminate the worst forms of poverty. For each of its clients, the Bank works with government agencies, nongovernmental organizations, and the private sector to formulate assistance strategies. Its country offices worldwide deliver the Bank's program in countries, liaise with government and civil society, and work to increase understanding of development issues. <p> The World Bank is owned by more than 184 member countries whose views and interests are represented by a Board of Governors and a Washington-based Board of Directors. Member countries are shareholders who carry ultimate decision-making power in the World Bank. <p> The Bank uses its financial resources, its highly trained staff, and its extensive knowledge base to individually help each developing country onto a path of stable, sustainable, and equitable growth. The main focus is on helping the poorest people and the poorest countries, but for all its clients the Bank emphasizes the need for: <p> Investing in people, particularly through basic health and education Focusing on social development, inclusion, governance, and institution-building as key elements of poverty reduction Strengthening the ability of the governments to deliver quality services, efficiently and transparently Protecting the environment Supporting and encouraging private business development Promoting reforms to create a stable macroeconomic environment, conducive to investment and long-term planning.