The World Bank Group is made up of five cooperative organizations, the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Financial Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for Settlement of Investment Disputes (ICSID). Established in 1944, the World Bank Group is the world’s primary financing, advice, and cooperation provider for struggling nations. Its main goal is to reduce poverty globally and raise living standards by providing long-term capital, encouraging foreign direct investments, and providing expert technical and policy advice.

The International Bank for Reconstruction and Development (IBRD) is the largest organization within the World Bank and serves as a way for high-income countries to lend to middle and lower income countries for a wide range of development projects. Its primary goal is to promote economic growth and reduce poverty. The IBRD offers both loans and grants and works to provide financing for infrastructure projects, investments in health, education, environment, and finance projects. The loans are given on a concessionary basis, meaning below-market rates, and the money is repaid with interest.

The International Development Association (IDA) is the World Bank's largest fund, developed to help countries with the poorest citizens. IDA provides financing and technical assistance with the aim of alleviating extreme poverty and assisting in developing countries in reaching the Sustainable Development Goals. It provides loans, grants, scholarships and other forms of aid to help governments reach global goals such as improved health, increased access to education and clean energy.

The International Finance Corporation (IFC) is the World Bank’s private sector arm and serves as a partner in the global fight against poverty. It provides financing to private companies and organizes investments that promote the development of healthy local economies. It also helps young companies in developing countries manage environmental and social risks, support vulnerable groups, and develop strategies to benefit workers and local communities.

The Multilateral Investment Guarantee Agency (MIGA) provides investment guarantees to foreign investors in order to increase the flow of foreign direct investments (FDI) for development projects in developing countries. It gives political risk guarantees to FDI projects in order to attract capital, insurance, and risk management services for investments. The agency also works to reduce risks for investors in developing countries and strengthens their access to capital markets.

The International Centre for Settlement of Investment Disputes (ICSID) is the World Bank's forum for resolving investment disputes. It provides facilities for arbitration, conciliation and other forms of dispute settlement between foreign investors and host governments. The ICSID works to ensure investors have access to a neutral, just, and efficient dispute resolution mechanism.

In an effort to reduce poverty and raise living standards, the World Bank Group offers a wide range of options to governments and businesses seeking to develop and expand their economies. From innovative grant programs to private sector investments, the World Bank group offers a comprehensive solution for those seeking to develop a sustained, prosperous future. With a comprehensive portfolio of offerings and the technical expertise to make them all come together, the World Bank Group is well-positioned to help drive economic growth, improve human capital, and increase global prosperity.