From the Document: "The World Bank, the oldest and largest multilateral development bank, provides financial assistance to developing countries to promote economic development. Established in 1945, the Bank initially focused on providing financing for large infrastructure projects. During the past 75 years, its role has broadened to include poverty reduction efforts through social projects (such as education and health) and policy-based loans. The World Bank is currently focused on helping developing countries respond to the health and economic consequences of the COVID-19 [coronavirus disease 2019] pandemic."
CRS In Focus, IF11361
Congressional Research Service: https://crsreports.congress.gov/