page_title: World Bank
section_title: History
hierarchical_section_title: World Bank / History
caption_attribution_description: English: Assistant Secretary, U.S. Treasury, Harry Dexter White (left) and John Maynard Keynes, honorary advisor to the U.K. Treasury at the inaugural meeting of the International Monetary Fund's Board of Governors in Savannah, Georgia, U.S., March 8, 1946. Français&#160;: John Maynard Keynes (à droite) et Harry Dexter White (à gauche) (1946) Русский: Джон Мейнард Кейнс (справа) и Гарри Декстер Уайт на Бреттон-Вудской конференции Deutsch: Harry Dexter White (links) und John Maynard Keynes beim Eröffnungstreffen des Gouverneursrates des Internationalen Währungsfonds in Savannah, Georgia, USA am 08. März 1946.
context_page_description: The World Bank is an international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects. It comprises two institutions: the International Bank for Reconstruction and Development, and the International Development Association. The World Bank is a component of the World Bank Group.
  The World Bank's most recently stated goal is the reduction of poverty.
context_section_description: The World Bank was created at the 1944 Bretton Woods Conference, along with the International Monetary Fund (IMF). The president of the World Bank is, traditionally, an American. The World Bank and the IMF are both based in Washington, D.C., and work closely with each other.
  Although many countries were represented at the Bretton Woods Conference, the United States and United Kingdom were the most powerful in attendance and dominated the negotiations. The intention behind the founding of the World Bank was to provide temporary loans to low-income countries which were unable to obtain loans commercially. The Bank may also make loans and demand policy reforms from recipients.
caption: Harry Dexter White (left) and John Maynard Keynes, the "founding fathers" of both the World Bank and the International Monetary Fund (IMF).[7]
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