Why is the world bank important?

The World Bank is a financial institution that provides loans to developing countries for capital programs. World Bank's stated goal is to reduce poverty.

The World Bank is an international financial institution that provides loans to developing countries for capital programmes.

The World Bank's official goal is the reduction of poverty. By law,[which?] all of its decisions must be guided by a commitment to promote foreign investment, international trade and facilitate capital investment.

The World Bank differs from the World Bank Group, in that the World Bank comprises only two institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), whereas the latter incorporates these two in addition to three more: International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA), and International Centre for Settlement of Investment Disputes (ICSID).

for more, you can check http://en.wikipedia.org/wiki/World_bank