Abstract The World Bank is one of the most powerful sources of funding and assistance for developing countries. Studying its role and contribution to the world economy is an essential part of forming a comprehensive understanding of global economic processes. In the present research, the author examines the activity of the Bank and its constituents using the method of literary analysis. As the sources of data, the author used the information provided by the Bank itself, as well as by the researchers, who examined the projects of the Bank. In this work, the organizational structure and mission of the Bank are explained, a brief history of the Bank is given, various aspects of the activity of the World Bank are studied, their effectiveness assessed, and their influence defined. Both positive and negative influences of the World Bank on the economy, environment, and political affairs of developing countries are studied and presented. Introduction Background The World Bank is a major financial institution and a part of the World Bank Group. It specializes in assisting developing countries on their way to progress. Its organizational structure allows it to provide various forms of competent assistance in addition to funding. The World Bank considers the reduction of extreme poverty in developing countries its main task, as well as promoting foreign investment and strengthening the trading connections between industrial and developing countries. The domination of the World Bank, along with the International Monetary Fund, in the sphere of financial assistance to developing countries often causes extreme reactions, being seen as either a blessing or a menace. Additionally, the environmental activity of the World Bank receives contradictory commentaries. In general, the topic of the World Bank’s activity is quite complicated, which makes it particularly attractive for research. Statement of the problem The World Bank is one of the most powerful financial institutions of today. It is known that the mission of the Bank is to promote universal economic development. However, the role of the World Bank in the world economy is often exaggerated, underestimated, or completely misrepresented. Additionally, the participation (or, more accurately, domination) of developed countries in its activity receives contradictory reactions. Therefore, a need exists to conduct a comprehensive analysis of the role of the World Bank and its contribution to the global economy. Hypothesis Being ready to start the work on the present research, the author had an existing hypothesis in mind. According to this hypothesis, the role of the World Bank, being quite significant, had both positive and negative influence on the process of economic development in the countries, to which the The bank is intended to assist. In the course of the research, the accuracy of the hypothesis has been supported by evidence. Objectives of the study Having proceeded to the research, the author established the following objectives:   * to study the organizational structure of the World Bank in order to understand how this institution operates;   * to explore the history of the World Bank to find out how it was fulfilling its task in different periods;   * to examine the current activity of the World Bank in developing countri