what is the world bank group 
the world bank group is the world s most prominent development bank with a stated mandate and mission to reduce world poverty it has 189 member countries and is headquartered in washington d c the ceo of the world bank group as of june 2021 is david malpass 1understanding the world bank groupthe world bank group provides advice and financial assistance in the form of discounted loans and grants to countries struggling with poverty with a focus on areas such as wellness education and agriculture it was created on december 27 1945 as part of the bretton woods agreement and consists of five organizations the international bank for reconstruction and development ibrd the international development association ida the international finance corporation ifc the multilateral investment guarantee agency miga the international centre for settlement of investment disputes icsid 1the first two institutions the ibrd and the ida comprise the world bank a subgroup within the world bank group 1the world bank group has 189 member states with the u s as the bank s largest shareholder 23 the u s president nominates the bank s president all of whom have so far been u s citizens 4 the bank s headquarters is in washington d c 1according to the world bank group s website it has two goals it aims to accomplish by 2030 to end extreme poverty defined as reducing the share of the world population living on less than 1 90 per day to 3 and to increase the incomes of the lowest earning 40 of every country 5in 2021 the world bank group has committed over 125 billion in funds to over 100 countries to fight the health economic and social impacts of the pandemic the fastest and largest crisis response in our history 6