{"id":37638,"date":"2015-07-12T03:23:39","date_gmt":"2015-07-11T21:53:39","guid":{"rendered":"http:\/\/vskills.in\/certification\/blog\/?p=37638"},"modified":"2024-04-03T13:19:04","modified_gmt":"2024-04-03T07:49:04","slug":"difference-between-world-bank-and-imf","status":"publish","type":"post","link":"https:\/\/www.vskills.in\/certification\/blog\/difference-between-world-bank-and-imf\/","title":{"rendered":"Difference between World Bank and IMF"},"content":{"rendered":"

\"Difference<\/a><\/p>\n

\u201cWorld Bank and international monetary fund aren\u2019t they the same? They both ensure the economic stability of the world economy, then what\u2019s the difference?\u201d- This is a common reply when people are asked about the difference between the World Bank and IMF. Most people tend to get confused between the two because they both concentrate on economic issues and help their member countries whenever required. The difference lies in their purposes and functions. IMF and the World Bank are collectively known as the Bretton Woods Institutions and were established in the year 1945.<\/p>\n

World Bank<\/strong>: The primary purpose of the World Bank is to help its member nations in their economic development. The World Bank finances the major development projects of any country in order to help in its growth prospects. It is a development institution which offers loans to the poorer nations and the developing nations with the aim of increasing the standard of living of the people living in those countries. The initial work of the World Bank after its launch was focused on rebuilding the infrastructure of the countries affected by the World War II. The major organizations that come under World Bank are: international bank for reconstruction and development <\/strong>(IBRD) and International development association <\/strong>(IDA).<\/p>\n