The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries.

[8] The bank's stated mission is to achieve the twin goals of ending extreme poverty and building shared prosperity.

[12] The WBG came into formal existence on 27 December 1946 following international ratification of the Bretton Woods agreements, which emerged from the United Nations Monetary and Financial Conference (1–22 July 1944).

WBG members by the number of organizations in which they participate:[2] Non-members are Andorra, Cuba, Liechtenstein, Monaco, Palestine, the Holy See (Vatican City), Taiwan, and North Korea.

[13] After the Chinese Civil War, the government fled to Taiwan and continued its membership in the WBG until April 16, 1980, when the People's Republic of China replaced the ROC.

[14] Excluded from the list are the following de facto states: Abkhazia, Northern Cyprus, the Sahrawi Arab Democratic Republic, Somaliland, South Ossetia, and Transnistria.

It is an international organization owned by member governments; although it makes profits, they are used to support continued efforts in poverty reduction.

Daily, the World Bank Group is run by a board of 25 executive directors to whom the governors have delegated certain powers.

The managing director of the World Bank is responsible for organizational strategy; budget and strategic planning; information technology; shared services; Corporate Procurement; General Services and Corporate Security; the Sanctions System; and the Conflict Resolution and Internal Justice System.

The present managing director, Shaolin Yang, assumed the office after Sri Mulyani resigned to become finance minister of Indonesia.

[20][21] The managing director and World Bank Group chief financial officer is Anshula Kant since 7 October 2019.

Critics point out that the Management Response weakened a key recommendation that indigenous peoples and affected communities should have to provide 'consent for projects to proceed; instead, there would be 'consultation'.

[28] Critics argue that the so-called free market reform policies—which the bank advocates in many cases—in practice are often harmful to economic development if implemented badly, too quickly ("shock therapy"), in the wrong sequence, or in very weak, uncompetitive economies.

[33] The Compliance Advisor/Ombudsman (CAO) criticized a loan the bank made to the palm oil company Dinant after the 2009 Honduran coup d'état.

[34] Other controversial investments include loans to the Chixoy Hydroelectric Dam in Guatemala while it was under military dictatorship, and to Goldcorp (then Glamis Gold) for the construction of the Marlin Mine.