Living Reference Work Entry

Encyclopedia of Big Data

pp 1-4

Date: Latest Version

World Bank

  • Jennifer FerreiraAffiliated withCentre for Business in Society, Coventry University Email author 

The World Bank, part of the World Bank Group established in 1944, is the international financial institution responsible for promoting economic development and reducing poverty. The World Bank has two key objectives: to end extreme poverty by reducing the proportion of the world’s population living on less than $1.25 a day and promoting shared prosperity by fostering income growth in the lowest 40% of the population.

A core activity for the World Bank is the provision of low interest loans, zero- to low-interest grants to developing countries. This could be to support a wide range of activities from education and health care to infrastructure, agriculture, or natural resource management. In addition to the financial support, the World Bank provides policy advice, research, analysis, and technical assistance to various countries in order to inform its own investments and ultimately to work toward its key objectives. Part of its activities relate to the provision of tools to research and ...

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