Today in history: The World Bank was created-28 nations signed.

 On this day, December 27, in 1945, the World Bank was established in Washington, D.C.
The World Bank was created along with its sister institution the International Monetary Fund – traditionally headed up by a European, while the World Bank would have an American in charge. The first loan, for $250 million, was approved to France, on the condition they remove the communist elements from their government – a condition they quickly complied with. The Bank’s goal is by 2015 to eliminate in all member states extreme hunger and poverty, achieve universal primary education, reduce child mortality and improve maternal health, along with several other measures.