Founded in 1944, the World Bank Group consists of five closely associated institutions:

• International Bank for Reconstruction and Development (IBRD), which "provides loans and development assistance to middle-income countries and creditworthy poorer countries. Voting power is linked to members' capital subscriptions, which in turn are based on each country's relative economic strength. The IBRD obtains most of its funds through the sale of bonds in international capital markets";
• International Development Association (IDA), which "plays a key role in supporting the Bank's poverty reduction mission. IDA assistance is focused on the poorest countries, to which it provides interest-free loans and other services. IDA depends on contributions from its wealthier member countries- including some developing countries - for most of its financial resources";
• International Finance Corporation (IFC), which "promotes growth in the developing world by financing private sector investments and providing technical assistance and advice to governments and businesses. In partnership with private investors, IFC provides both loan and equity finance for business ventures in developing countries";
• Multilateral Investment Guarantee Agency (MIGA), which "helps encourage foreign investment in developing countries by providing guarantees to foreign investors against loss caused by non-commercial risks. MIGA also provides technical assistance to help countries disseminate information on investment opportunities"; and
• International Centre for Settlement of Investment Disputes (ICSID), which "provides facilities for the settlement Ü by conciliation or arbitration - of investment disputes between foreign investors and their host countries."

The World Bank is owned by more than 180 member countries whose views and interests are represented by a Board of Governors and a Washington-based Board of Directors. The IBRD has 181 members, IDA has 160, the IFC has 174, MIGA has 149 and ICSID has 131.

The World Bank's mission is "to fight poverty with passion and professionalism for lasting results; to help people help themselves and their environment by providing resources, sharing knowledge, building capacity, and forging partnerships in the public and private sectors; to be an excellent institution able to attract, excite, and nurture diverse and committed staff with exceptional skills who know how to listen and learn".

The World Bank views the management of freshwater, coastal and marine resources as a continuum — from the upper reaches of a watershed, flowing into rivers and to the confluence with the coastal zone and the sea. The integration of the "environmental dimension" of these connected resources has been an important aspect of the Bank's work, which is realized through strategic studies, regional programs, projects and advisory services. At the regional level the World Bank, in cooperation with a range of partners, is undertaking activities to support management of the Aral Sea, Baltic Sea, Black Sea, Caribbean Sea, Caspian Sea, Mediterranean Sea, Mesoamerican Barrier Reef, Red Sea and Gulf of Aden, and Western Indian Ocean. At the national level, coastal zone management activities are being supported in a diversity of countries including Argentina, China, Croatia, Egypt, Ghana, Honduras, Indonesia, Jordan, Latvia, Lebanon, Lithuania, Mauritius, Nigeria, Seychelles and Vietnam. The World Bank is also a founding member of the International Coral Reef Initiative, and other initiatives for coral reef and mangrove habitats, marine protected areas and integrated coastal management.

The World Bank is a GEF implementing agency, with the primary responsibility of developing and implementing investment projects, seeking to mobilize resources from the private sector, and acting as trustee for the GEF Trust Fund.

Projects under GEF International Waters include Lake Victoria Environmental Management; China Ship Waste Disposal; Regional Caribbean OECS Ship-Generated Waste Management; Regional Wider Caribbean Initiative for Ship-Generated Waste; Oil Pollution Management Project for the Southwest Mediterranean Sea; and Gulf of Aqaba Environmental Action Plan.