If you are looking for a way to understand the working and the structure of how international business and finance works, then you better get a grip of the ways and means of the working of the World Bank. Set up in 1994 with the aim of providing financial aid to the developing world, the World Bank is the epitome of international business and finance.

The World Bank has a number of units and subsidiaries under it, which work hand in hand and independently in ensuring that the set of responsibilities bestowed upon them, are carried out to the core. The World Bank was set up under two different heads- the IDA and the IBRD. While the IDA stands for International Development Association, the IBRD is known as the International Bank for Reconstruction and Development.

The International Development Association (IDA) on the other hand is more concerned and focused on the poor nations of the world. Improvement in the standard of life of people belonging to downward poor regions of the world and identifying such region is of utmost importance to the IDA. There are a number of other smaller, yet important centers of international business and finance, which have been set up by the World Bank.

A number of other international business and finance institutes and smaller units have been set up by the World Bank to overlook important international business and finance transactions. The MIGA (Multilateral Investment Guarantee Agency) was set up in order to attract investors to the developing markets. It is a pivotal agency and is important in arranging aid for new markets and regions of the world.

The IFC looks after granting loans for construction of roads, bridges and other infrastructure to countries that are in need of this money. Besides, it also overlooks other financial issues that are directly or indirectly concerned with the World bank.

Finally, the IFC or the International Finance Corporation is another important subsidiary of the World Bank that is worth mentioning. It overlooks that allocation and disbursement of loans to the needy countries. Thus, the IFC functions as the stamping authority, which makes sure that the loans are provided to those who are in need and also ensures that the country in need of the loans indeed needs the loans.

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