World Bank Group

The World Bank Group initially served the purpose of financing the reconstruction of the states that had been devastated in the Second World War. Today its responsibilities go far beyond this end. It is not a bank in the narrower sense, but an association of institutions which aim to promote economic development of less developed member states by means of financial support, consulting as well as technological support, and hence to contribute to realising the international development goals. Like the International Monetary Fund (IMF), the organisations of the World Bank Group are specialised agencies of the United Nations.
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