World Bank World Bank is an internationally supported bank that provides financial and technical assistance to developing countries for development programs with the stated goal of reducing poverty. The World Bank was formally established on December 27, 1945, following the ratification of the Bretton Woods agreement. The Bank's mission is to aid developing countries and their inhabitants achieve development and the reduction of poverty, including achievement of the MDGs, by helping countries develop an environment for investment, jobs and sustainable growth, thus promoting economic growth through investment and enabling the poor to share the fruits of economic growth.

Headquarters: Washington, USA Leadership: Robert B. Zoellick, President Founded: 1945 Website: www.worldbank.org

World Banks

Business and Financial News

	Citigroup will sell Citibank Privatkunden AG for $7.7bn - 06.12.2008 Banking giant Citigroup Inc. says it will sell its German retail banking operation and some of its affiliates to France's Credit Mutuel, in $7.7 billion cash deal.
	Repartition of the Global Banking System is inevitable - 05.12.2008 The financial crisis continues to storm in the global markets. This time the main victim of crisis is a banking system developed and developing countries. And experts notice, that the global banking system will undergo huge changes by 2012.
	US government puts up $300bn in Citigroup rescue - 25.11.2008 The US government pulled Citigroup back from the abyss yesterday with a comprehensive bail-out that saw taxpayers guaranteeing $306bn of risky assets and injecting $20bn of capital into the banking group.
	HSBC cuts 450 jobs in Hong Kong - 18.11.2008 HSBC was laying off 500 people in Asia, 90 percent of them in Hong Kong, in a further indication that the Asian financial community, so far relatively unscathed by mass layoffs seen on Wall Street, is being affected by the global financial crisis.