Final answer:
The World Bank is the institution known for making loans to poor countries to aid their economic development and has a history of shifting from post-war reconstruction to long-term development support.
Step-by-step explanation:
The institution that made loans to poor countries for economic development is The World Bank. This international financial institution was established as a result of the Bretton Woods Conference, alongside the International Monetary Fund (IMF), to support economic development and reconstruction efforts. The World Bank's initial role was to help rebuild the economies of war-devastated countries and later shifted to funding development projects in less developed countries (LDCs), including sectors like power, irrigation, and transportation. Although similar in their development goals, the IMF primarily provides policy advice and financial assistance to manage economic crises, while the World Bank focuses on long-term economic development and poverty reduction by providing loans and grants for infrastructure and developmental projects.