What is the role of the World Bank in global development?

The World Bank is an international financial institution that provides loans and grants to low- and middle-income countries for projects aimed at reducing poverty and promoting economic development. The bank finances projects in areas such as infrastructure, healthcare, education, and environmental protection. It plays a critical role in promoting sustainable economic development by offering financial support and technical expertise to countries that may not have access to traditional sources of funding. By funding projects that improve living standards and create jobs, the World Bank helps to reduce inequality and fosters long-term economic growth in developing countries.