The World Bank is no ordinary bank. You cannot deposit or withdraw money at the World Bank. That s because the World Bank is actually an international development organization that is owned by its more than 180 member countries both rich and poor. World Bank loans help to increase economic productivity and to improve the standard of living of people in these countries.
Development means helping people to become more productive and to live healthier, fuller lives.
As its people become more productive, a country is better able to trade with other countries to get more of the goods and services it needs to continue improving conditions. But development also means ensuring that countries plan their growth so that future generations will have the chance to live better lives as well. When it first began operations in 1946, it had 38 members. That number increased sharply in the 1950s and 1960s, when many colonies became independent nations and joined the Bank. Today, most of the countries in the world are members.