What is the World Bank and what is its purpose?

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What is the World Bank and what is its purpose?

The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of promoting economic development and reducing poverty. Its main goal is to help countries achieve sustainable economic growth, improve living standards, and invest in human capital. The World Bank also provides technical assistance and policy advice to its member countries to support their development efforts.