Alþjóðabankans

Alþjóðabankans is the Icelandic name for the World Bank. The World Bank is an international financial institution that provides loans and grants to the governments of low-income and middle-income countries for the purpose of pursuing capital projects. It comprises two distinct institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). The World Bank's stated mission is to reduce poverty by providing financial and technical assistance to developing countries. It works in over 100 developing countries to provide financing, policy advice, and technical assistance. The organization's efforts focus on areas such as education, health, agriculture, and infrastructure. It was established in 1944, along with the International Monetary Fund, at the Bretton Woods Conference. The World Bank is headquartered in Washington, D.C.