The document provides information on the key differences and purposes of the International Monetary Fund (IMF) and the World Bank. The IMF works to maintain monetary cooperation and stability among member countries, while the World Bank aims to aid development and reconstruction efforts. Both were established at the 1944 Bretton Woods Conference and now have near universal membership. The IMF focuses on short term lending and balance of payment issues, while the World Bank concentrates on long term development projects and poverty reduction.