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The International Bank for Reconstruction and Development (IBRD) officially came into existence in 1944.
The Bank promotes economic, social, and environmental progress in developing nations by reducing poverty so that their people may live better and fuller lives. The Bank lends funds at market-determined interest rates, provides advice, and serves as a catalyst to stimulate outside investments. Its resources come primarily from funds raised in the world capital markets, its retained earnings, and repayments on its loans.
The Governments of the 189 member countries own the IBRD.
The IBRD issues World Bank bonds in the international capital markets to fund development projects in member countries.