The World Bank Group (WBG) is a global partnership of five institutions working to end extreme poverty and boost shared prosperity in developing countries by providing financing, policy advice, and technical assistance, focusing on reducing poverty, promoting sustainable development, and involving the private sector through entities like the IBRD, IDA, IFC, MIGA, and ICSID. Formed after WWII, it offers loans and grants, focusing on middle-income (IBRD) and the poorest (IDA) countries, while the IFC, MIGA, and ICSID support private sector growth, investment insurance, and dispute settlement.