The World Bank is an international financial institution established in 1944 to provide financing, technical expertise, and strategic support for development projects in low- and middle-income countries. Its primary mission is to reduce poverty and promote shared prosperity through sustainable development. The Bank offers: low-interest loans called credits for developing country members; grants for education, health, and infrastructure projects; and technical assistance and policy advice to strengthen institutional capacity. The World Bank Group comprises several institutions, including the International Development Association (IDA) for the poorest countries and the International Finance Corporation (IFC) for private sector development. It works closely with governments, NGOs, and international partners to implement development programmes.