The World Bank (WB) is an organization established in 1944, with headquartered in Washington, D.C. It is made up of 144 member countries that are represented by Board of Governors, which is the supreme decision-body.
The World Bank is a vital source of financial and technical assistance to developing countries around the world. They are not a bank in the ordinary sense but a unique partnership to reduce poverty and support development. The World Bank Group comprises five institutions managed by their member countries.