the world bank is the principal organization that
World Bank The World Bank (French: Banque mondiale)[3] is an international financial institution that provides loans[4] to countries of the world for capital projects. It comprises two institutions: the International Bank for Reconstruction and Development (IBRD), and the International Development Association (IDA). The World Bank is a component of the World Bank Group.
International Monetary Fund The International Monetary Fund (IMF) is an international organization headquartered in Washington, D.C., consisting of "189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world."[1] Formed in 1945 at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes,[5] it came into formal existence in 1944 with 29 member countries and the goal of reconstructing the international payment system. It now plays a central role in the management of balance of payments difficulties and international financial crises.[6] Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments problems can borrow money. As of 2016[update], the fund had SDR477 billion (about $666 billion).[7]