The World Bank was established post-World War II in 1944 to rebuild Europe from the destruction caused by the war. The World Bank's goals have evolved over time, and today the World Bank's goals are to “end extreme poverty by decreasing the percentage of people living on less than $1.25 a day to no more than 3%” and “ promote shared prosperity by promoting income growth for the poorest 40% of each country” (World Bank, 2015). Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay The World Bank provides low-interest credit, low-interest loans, and grants to developing countries. These credits, loans and grants provide support to various investments within these developing countries, including the sectors: education, public administration, healthcare, financial and private sectors, agriculture, infrastructure and natural resources, among other sectors. Projects can be fully financed by the World Bank or co-financed by the country's government, commercial banks, export credit agencies or private sector investors (World Bank, 2015). Although the World Bank may share many similarities with the World Bank, International Monetary Fund (IMF); both institutions are owned by the governments of member countries, deal with economic issues and strengthening economies around the world, hold annual meetings, are headquartered in Washington DC, and have even shared the same building for a long period of time. With all these similarities, the two institutions are easy to confuse, but despite all these similarities, they are two separate and distinct entities (Driscoll, 2015). The only fundamental difference between the two is that the World Bank is primarily concerned with the development of underdeveloped countries, while the International Monetary Fund is a cooperative body that seeks to maintain an orderly system among nations regarding payments and receipts. . The World Bank and the International Monetary Fund have different purposes, distinct structures within their organization, their own modes of financing, serve different demographics of members, and strive to achieve their own distinct objectives through their own methods. So, although both entities may appear similar on the surface, a closer look will show that they do completely different things (Driscoll, 2015). Please note: this is just an example. Get a custom paper from our expert writers now. Get a Custom Essay While Although the World Bank seems like its goals serve a higher purpose and overall good, there are many people and organizations who oppose the World Bank. Opponents believe the World Bank actually has the opposite effect of creating a poverty-free world goal, citing the bank's basic structure and the gap that already exists between the world's richest and poorest members. Opponents believe that the current system allows major shareholders to dominate voting, thus making World Bank policies decided by the rich, but implemented by those who are poor. Opponents believe this political process may lead to policies that do not serve the best interests of developing nations, but rather implement economic, political and social policies around resolutions already affecting World Bank members. Furthermore, it was noted that World Bank loans to developing countries should be used for sustainable development, but often key programs, such as health and, 2013).