The World Bank was established in 1946 as a special-purpose financial institution for providing a support of economy development in poor countries with low income. At the beginning the International Bank of Reconstruction and Development (commonly known as a World Bank) was involved in financing projects of reconstruction in ruined countries.

In a period of over fifty-year activity Bank's capital increased several times by growing number of country members and share increase. At the end of fiscal 2000 Bank has 181 country members and subscribed capital of above $300 billion.

During years of activity World Bank expanded an area and sectors involvement. A demand for Bank services caused a necessity of supplementing IBRD activity with other institutions, which had to cover special tasks. In fact, three other institutions were established, strictly connected to IBRD. Each of them acts independently, but they are dependent on organisational and functional aspect. All of them have formed The World Bank Group.

The main purpose of World Bank activity is a reduction of poverty and increase of country development. For such reason World Bank Group is offering a number of loans, credits and guarantees. IBRD provides loans and development assistance to middle-income countries and creditworthy poorer countries. The IBRD obtains most of its funds through sale of bonds in international capital markets. IBRD offers different types of loans like as currency poll loans, variable single currency loans and fixed spread loans. All of them are rated upon LIBOR plus margin and commitment fees. IDA plays a key role in supporting the Bank's poverty reduction mission. IDA assistance is focused on the poorest countries, to which it provides interest-free credits and other services. IDA mainly depends on contributions from wealthier member countries. IFC promotes growth in the developing countries by financing private sector investments and providing technical assistance to governments and businesses. IFC provides both loan and equity finance for ventures in developing countries. MIGA helps encourage foreign investments in developing countries by providing guarantees to foreign investors against loss caused by non-commercial risks. ICSID provides facilities for the settlement by conciliation or arbitration of investment disputes between foreign investors and their host countries. IDA and ICSID are not-profit institutions.

The main area of World Bank Group's institutions is Latin America, Africa and South Asia. The main sectors of their activity are infrastructure projects and economy policy implementation. Besides credit and loan activity World Bank Group offers also comprehensive activity on training, technical assistance, public funds management, investment funds management and so on.

After almost sixty years activity World Bank was successful in many cases, but there were some unsuccessful cases also. The Bank had been transformed many times, but it has saved its initial mission, and the question about World Bank future has not been answered yet.