The initial mission of the IBRD in 1944, was to finance the reconstruction of European nations devastated by World War II.

The IBRD and its concessional lending arm, the International Development Association (IDA), are collectively known as the World Bank as they share the same leadership and staff.

[1][2][3] Following the reconstruction of Europe, the Bank's mandate expanded to advancing worldwide economic development and eradicating poverty.

The IBRD provides commercial-grade or concessional financing to sovereign states to fund projects that seek to improve transportation and infrastructure, education, domestic policy, environmental consciousness, energy investments, healthcare, access to food and potable water, and access to improved sanitation.

[5][9] Malpass had served as one of President Trump's economic advisers and as a senior official in the United States Treasury Department.

[11] IBRD field offices were opened in Paris, France, Copenhagen, Denmark, and Prague in the former Czechoslovakia.

[12] The IBRD was established with the original mission of financing the reconstruction efforts of war-torn European nations following World War II,[5] with goals shared by the later Marshall Plan.

The Bank issued its inaugural loan of $250 million ($2.6 billion in 2 dollars[13]) to France in 1947 to finance infrastructure projects.

[5] Throughout the remainder of the 1940s and 1950s, the Bank-financed projects sought to dam rivers, generate electricity and improve access to water and sanitation.

[15] During this period other MDBs that were similar to the IBRD in their governance and operations, were established by countries that were not member nations of the WBG.

[15] The IBRD finances its activities from the shares its members hold, as well as borrowing on international capital markets by issuing World Bank bonds.

"[11] In the early 2010s, the total of "capital investments in emerging markets from all sources have topped $1 trillion annually".

[11] According to a 2019 The Economist article, the IBRD is "more controversial" than the International Development Association (IDA) lending arm.

For borrowers needing quick financing for an unexpected change, the IBRD operates a Deferred Drawdown Option which serves as a line of credit with features similar to the Bank's flexible loan program.

The IBRD's Enclave Partial Risk Guarantee covers private projects in member countries of the IDA against sovereign governments' failures to fulfil contractual obligations.

[16] The top 10 borrowers were India, Indonesia, Jordan, Egypt, Argentina, China, Morocco, Turkey, Ukraine and Colombia.