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TeachMeFinance.com - explain International Bank for Reconstruction and Development International Bank for Reconstruction and Development -- (The World Bank) an organization proposed at the July 1944 Bretton Woods Conference, which began operation in June 1946. Initially, it provided loans for reconstruction following World War II. Its primary function now is to provide loans for economic development. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.