The World Bank came into being at the Bretton Woods conference of 1944, at which time it was known as the International Bank for Reconstruction and Development. Today its doors are open to 184 countries and it employs over 10,000 employees in Washington, D.C. as well as in country offices worldwide. Currently, its two most important organs are the International Bank for Reconstruction and Development and the Internal Development Association. The International Bank for Reconstruction and Development provides loans, advice and technological support for low- and middle-income countries. Its interest rates are far below those of private investment companies. The IDA provides monetary gifts and no-interest loans to the world's poorest countries and supports a series of relief efforts, including efforts to advance responsible management systems, improve the investment environment in private sectors and promote education and health opportunities for the poorest members of countries' populations.
The World Bank Group is represented in totem by the International Bank for Reconstruction and Development, the IDA, the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA) and the International Center for Settlement of Investment Disputes (ICSID).