International Bank for Reconstruction
The International Bank for Reconstruction and Development was established at the international Economic Conference held at Bretton Woods in July 1944. It headquarter is situated in Washington D.C. (U.S.A.). The bank is a specialized agency for international monetary cooperation. The main objective of the bank is to assists in the economic development of the member countries and to help raise the standard of development countries by channelsing financial resources from development countries to developing countries. To assists in the reconstruction and development of less developed countries by facilitating investment for productive purposes. To promote private foreign investment by means of guarantees or participation and investment made by private investors. To promote long term balanced growth of international trade by assisting in raising productivity the standard of living and improving conditions of labor in the developing countries.