The International Monetary Fund (IMF) and the World Bank were set up together and they were popularly called Bretton Woods Twins.
The representatives of the USA, the UK, and 42 other nations met at Bretton Woods, New Hampshire, in the USA in 1944 to lead the foundation for the new international monetary system.
Both have their Headquarters in Washington DC, USA.
The World Bank Group
is one of the world’s largest sources of funding and knowledge for developing countries. Its five institutions share a commitment to reduce poverty, increase shared prosperity, and promote sustainable development.
The five institutions are IBRD, IDA, IFC, MIGA, ICSID.
Created in 1945, the IMF is governed by and accountable to the 189 countries that make up its near-global membership.
The IMF's primary purpose is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries (and their citizens) to transact with each other.