Why in News? 

The World Bank has lowered India's 2026 GDP growth forecast to 6.3% from 6.7%, citing weaker exports and slower investment growth. 

About World Bank 

• About: Established in 1944, the World Bank initially started as the International Bank for Reconstruction and Development (IBRD) along with the IMF. It later became the World Bank. 
• Mission: The World Bank Group, a global partnership of five institutions, focuses on sustainable solutions to reduce poverty and promote shared prosperity in developing countries. 
• Affiliation: It is one of the United Nations' specialized agencies. 
• Members: With 189 member countries, India is one of its members. 
• Major Reports: Some important reports published by the World Bank include: 
  • Human Capital Index 
  • World Development Report 
• Development Institutions: The World Bank has five key development institutions: 
  • International Bank for Reconstruction and Development (IBRD) 
  • International Development Association (IDA) 
  • International Finance Corporation (IFC) 
  • Multilateral Guarantee Agency (MIGA) 
  • International Centre for the Settlement of Investment Disputes (ICSID) – India is not a member of ICSID.