What is the World Bank?

By Vihan Singh2 min read · Posted Jan 10, 2023

361
Views

If you like to research or keep up with global news, you probably have come across the “World Bank.” Well, what is the World Bank? What does it do? Read on, as this article explains what the World Bank is and what it does.

What is the World Bank?

The World Bank is an independent organization that gives monetary and physical support to underdeveloped countries to help them build their economies. They aim to decrease poverty and help other countries with building projects such as schools, etc.

When and Where?

The World Bank was founded in July of 1944, during the midst of World War II. After the war had passed, the World Bank helped countries to recover their economies by supplying them with grants and loans. The World Bank has a total of 189 member countries as of now.

Can I Join?

The World Bank offers internships or job positions to individuals who meet the organization’s requirements. However, getting a job or an internship at the World Bank can be very competitive. Some of the requirements include but are not limited to:

  • A master's degree in a relevant field
  • 3 years of professional experience
  • A Ph.D. and five years of professional experience for higher level jobs and internships.

Problems?

The World Bank's ideal of helping the economies has shifted to solving poverty by supplying projects and grants. Many critics say that the World Bank is no longer relevant, even to small, underdeveloped countries. While that may be true, they still serve a useful purpose by providing goods and services to such countries.

Conclusion

The World Bank is an international organization that solves poverty by supplying monetary and physical assistance. Originally established to help countries after WWII, the World Bank continues to assist various countries by building and maintaining their economies.

References

About The Author

Vihan Singh

22
Articles
1066
Total Views
21
Total Likes
1
Total Shares

See more posts by Vihan Singh

Comments

Loading...

Join Our Community


Looking for something else? Get your questions answered in our free online learning community!

Entrepreneurial Resources


Jumpstart your next business with our free resource library.

Loading...

Disclaimer


Our organization cannot give out official legal/fiscal guidance. All articles are written by volunteers and it may be beneficial to contact professionals to assist your understanding of the information and to guide your action. Pitch Labs bears no responsibility for the results of actions taken based off of article content or any other form of assistance given.