The World Bank Group is the world's premier development bank, with a core mandate and mission to reduce world poverty. Founded on December 27, 1945, The World Bank Group is made up of five distinct organizations that all contribute to the alleviation of poverty and the development of countries around the globe.

The International Bank for Reconstruction and Development (IBRD) is the global hub of The World Bank Group. It extends discounted loans and guarantees global investments to enable countries to achieve economic development and to eradicate poverty. IBRD is the only entity of the five that has the ability to raise funds in the global bond markets, aiding in its mission to reduce world poverty.

The International Development Association (IDA) is the second of five organizations under The World Bank Group. This organization provides concessional loans, interest-free credits, and grants to countries with the greatest need. IDA also provides debt relief to poorer countries and warrants the development of financial institutions in these places.

The International Finance Corporation (IFC) is the third organization under The World Bank Group. This group provides equity to the private sector and enhances the interaction between the public and private sectors. IFC provides direct financing to private businesses and creditworthy governments for global investments and providing these countries with the resources and monetary capital to expand their economy.

The Multilateral Investment Guarantee Agency (MIGA) is the fourth organization under The World Bank Group. MIGA provides investment guarantees to private companies in developing countries. This helps to encourage private investments and assure the safety of these global investments in the hopes that it will spur economic growth.

The International Centre for Settlement of Investment Disputes (ICSID) is the fifth and final organization of The World Bank Group. This institution offers a neutral forum for dispute resolution when global investments fail. It carries out legal arbitration, conciliation, and mediation processes to resolve disputes between global businesses and certain governments.

The World Bank Group currently has 189 member states, with the U. S. as its largest shareholder. All of its organizations work together to help countries struggling with poverty in areas like health, education, and agriculture though discounted loans and grants. The World Bank Group is a major force for reducing poverty around the globe.