The World Bank is a central source of monetary and technical assistance to developing countries all around the world. Their duty is to fight poverty with ardour and professionalism for permanent results and to help people help themselves and their environment by providing wherewithal, sharing information, building capacity and forging partnerships in the public and private regions. It came into recognized existence on 27th December, 1945, following international endorsement of the Bretton Woods agreement, which came into existence from the United Nations Monetary and Financial Conference.