The International Bank for Reconstruction and Development (IBRD, in Romance languages: BIRD), better known as the World Bank, came into existence on December 27, 1945 following international ratification of the agreements reached at the Bretton Woods Conference of July 1 - July 22, 1944.
An international organization that provides long term loans, grants, and technical assistance, to help developing countries implement their poverty reduction strategies. As such, World Bank financing can be used in many different areas, from reform of health and education sector, to environmental and infrastructure projects, including dams, roads, and national parks.