Einar H. Dyvik
Research expert covering Nordics and global data for society, economy, and politics
World Bank - statistics & facts
The World Bank was founded together with the International Monetary Fund (IMF) in the Bretton Woods Conference dueing the Second World War in 1944, to promote global financial stability. While closely related and often working together, and both headquartered in Washington D.C., the two are individual, separate institutions. The IMF’s main focus is on securing economic stability by providing loans to struggling countries. The World Bank, on the other hand, focuses on reducing poverty and securing long-term economic development, its strategy thus often being more long-term than that of the IMF. Here, the focus will lie on the World Bank. What is it? how has its focus changed since its establishment? and what are the main points of critique it faces?
