The World Bank Group consists of 5 organizations that work to reduce poverty and support development. The International Bank for Reconstruction and Development (IBRD) is the World Bank Group's lending arm for middle-income developing countries. It was established in 1944 at the Bretton Woods Conference to help European nations recover from World War 2. The IBRD provides loans, guarantees, risk management, and advisory services to support productivity, economic growth, and living standards.