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The World Bank is a United Nations international financial institution that provides loans to developing countries for capital programs. The World Bank is a component of the World Bank Group, and a member of the United Nations Development Group. History The World Bank was created at the 1944 Bretton Woods Conference, along with three other institutions, including the International Monetary Fund (IMF). The World Bank and the IMF are both based in Washington, D.C., and work closely with each other. 1944–1968 Before 1968, the reconstruction and development loans provided by the World Bank were relatively small.(The first country to receive a World Bank loan was France.) 1968–1980 From 1968 to 1980, the bank concentrated on meeting the basic needs of people in the developing world. The size and number of loans to borrowers was greatly increased as loan targets expanded from infrastructure into social services and other sectors. 1980–1989 During the 1980s, the bank emphasized lending to service Third-World debt, and structural adjustment policies designed to streamline the economies of developing nations. UNICEF reported in the late 1980s that the structural adjustment programs of the World Bank had been responsible for reduced health, nutritional and educational levels for tens of millions of children in Asia, Latin America, and Africa. 1989–present The bank began including environmental groups and NGOs in its loans to mitigate the past effects of its development policies that had prompted the criticism. Criteria Eradicate Extreme Poverty and Hunger Achieve Universal Primary Education Promote Gender Equality Reduce Child Mortality Improve Maternal Health Combat HIV/AIDS, Malaria, and Other Diseases Ensure Environmental Sustainability Develop a Global Partnership for Development The Restrictive conditions of loan Only for the International Monetary Fund of the state, are allowed to apply for membership of the world bank, the loan is a long-term, usually ranging f
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