As the victorious great powers surveyed the devastation brought on by World War II and faced the crumbling of old colonial empires two issues came to dominate the international agenda: the reconstruction of countries devastated by the war and the economic and political development of the newly independent states of Africa and Asia. What linked these two issues was the perception that future violence and wars could be prevented by ensuring economic development and international financial stability. New institutions were established, most notably, the International Bank for Reconstruction and Development (the World Bank), the International Monetary Fund and the United Nations. The goal was to guarantee the flow of funds for reconstruction and development projects, offer short-term loans to prevent financial crises and provide a forum for peaceful resolution of international disputes and conflicts.