The International Bank for Reconstruction and Development, commonly referred to as the World Bank, is an international financial institution, part of the UN family, whose stated goal is to eradicate poverty. It strives to do so by lending to Member States, often for projects of development. In spite of this noble goal, it is facing criticism and competition. The lax human rights policy of the bank has led to scandals at an increasing frequency, while other international lending institutions emerge and threaten the World Bank’s position as the major international financial body. Its policy is ultimately determined by the Board of Governors, made up of 189 national Governors.