World Bank

Definition

The World Bank is an international financial institution that provides loans and grants to poorer countries for capital programs with the goal of reducing poverty.

Related terms

Development Economics: A branch of economics which deals with economic aspects of the development process in low-income countries.

Foreign Aid: Financial or material help given by one country to another, often underdeveloped ones, usually for humanitarian purposes or development efforts.

Debt Relief: Measures designed to reduce or eliminate a country's debt burden such as lowering interest rates on loans, reducing principal owed, or forgiving certain debts entirely.