The World Bank is a financial institution established to provide financing, advisory services and research to emerging markets and developing nations in support of economic advancement in public and private markets. Its key objectives are the reduction of poverty and fostering of economic development in nations around the world by providing low-interest loans, credits and grants to foster education, healthcare and infrastructure in developing nations.
The World Bank was created in 1944 following the Bretton Woods agreement near the end of World War II at a time when many nations needed financing to rebuild following the conflict.