World Bank explained to kids

The World Bank is an international financial institution that provides loans to countries for capital projects. It was established in 1944 with the goal of helping to rebuild Europe after World War II. The World Bank is part of the United Nations system. The World Bank is owned by its member countries. The countries that own the most shares are the United States, Japan, and China. The president of the World Bank is Jim Yong Kim. The World Bank makes loans to governments and provides grants to projects that promote poverty reduction and economic development. The World Bank also provides advice to governments on economic and development issues. The World Bank is headquartered in Washington, D.C. It has over 10,000 employees from more than 170 countries. The World Bank is one of the most important development institutions in the world. It has helped many countries reduce poverty and improve their economies.