Plain meaning
An international development institution that provides financing, research, and policy support to reduce poverty and support development.
Background
The World Bank was created after the Second World War as part of the Bretton Woods system.
Key points
- The World Bank provides financing and technical support to eligible countries and projects.
- Its work includes infrastructure, poverty reduction, development finance, and institutional capacity.
- Canada can participate through contributions, partnerships, and multilateral initiatives.
Why it comes up
World Bank references appear in articles about international public finance, development, crisis support, and reconstruction funding.