Like the World Bank, this is also an international capitalist financial institution (that also excludes communist countries from membership) but whose purpose is different from that of the World Bank in that its main concern is to help maintain the stability of the international financial system—one tool that it uses toward this end is to provide emergency loans to governments that are unable to pay their foreign debts but with strict and often onerous conditions attached to the loans that usually impact the poor and the vulnerable in most egregious ways. The IMF was set up following a conference in July 1944 of non-communist nations in Bretton Woods (in New Hampshire, United States), as the Second World War was about to end, called the Bretton Woods Conference or officially the United Nations Monetary and Financial Conference. Note that the IMF was one of the two financial institutions (the other was the World Bank) that the conference inaugurated and hence the two together are also often referred to as the Bretton Woods institutions. (Note that the legacy of the Bretton Woods institutions after more than sixty years of existence is that inequality in the world between countries and within countries has grown exponentially—a clear indication of their true purpose: the promotion of unbridled corporate capitalism on a world scale.)