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International financial institutions

November 09, 2023

An international financial institution (IFI) is a financial institution that has been established (or chartered) by more than one country, and hence is subject to international law. Its owners or shareholders are generally national governments, although other international institutions and other organizations occasionally figure as shareholders. The most prominent IFIs are creations of multiple nations, although some bilateral financial institutions (created by two countries) exist and are technically IFIs. The best known IFIs were established after World War II to assist in the reconstruction of Europe and provide mechanisms for international cooperation in managing the global financial system.

Types edit

Multilateral Development Banks edit

A multilateral development bank (MDB) is a development bank, created by a group of countries, that provides financing and professional advice to enhance development. An MDB has many members, including developed donor countries and developing borrower countries. MDBs finance projects through long-term loans at market rates, very-long-term loans below market rates (also known as credits), and grants. Additionally, MDBs often have a geographic focus area for their development objective. With this geographic and thematic focus, funding for a variety of ventures – often resource-intense infrastructure projects – is provided. Since MDBs are backed by nations, they tend to profit from favorable loan conditions compared to other banks and can therefore take more risks in their investment strategy. [1] This aids their purpose-driven cause.

The following are usually classified as the main MDBs:

There are also several "sub-regional" multilateral development banks. Their membership typically includes only borrowing nations. The banks lend to their members, borrowing from the international capital markets. Because there is effectively shared responsibility for repayment, the banks can often borrow more cheaply than could any one member nation. These banks include:

There are also several multilateral financial institutions (MFIs). MFIs are similar to MDBs but they are sometimes separated since they have more limited memberships and often focus on financing certain types of projects.

Bretton Woods institutions edit

Main article: Bretton Woods system

The best-known IFIs were established after World War II to assist in the reconstruction of Europe and provide mechanisms for international cooperation in managing the global financial system. They include the World Bank, the IMF, and the International Finance Corporation. Today the largest IFI in the world is the European Investment Bank which lent 61 billion euros to global projects in 2011.

Founded Name Notes HQ
1944 IMF International Monetary Fund [permanent dead link] Specialised agency of the UN Washington, DC
1944 IBRD International Bank for Reconstruction and Development World Bank Group, Specialised agency of the UN Washington, DC
1956 IFC International Finance Corporation World Bank Group Washington, DC
1960 IDA International Development Association World Bank Group Washington, DC
1966 ICSID, International Centre for Settlement of Investment Disputes World Bank Group Washington, DC
1988 MIGA Multilateral Investment Guarantee Agency World Bank Group Washington, DC
1995 GATT General Agreement on Tariffs and Trade, basis for the creation of World Trade Organization (WTO) in 1995 [permanent dead link] The GATT is not an organisation. The WTO is not a United Nations agency Geneva for the WTO

Regional development banks edit

The regional development banks consist of several regional institutions that have functions similar to the World Bank group's activities, but with particular focus on a specific region. Shareholders usually consist of the regional countries plus the major donor countries. The best-known of these regional banks cover regions that roughly correspond to United Nations regional groupings, including the Inter-American Development Bank, the Asian Development Bank; the African Development Bank; the Central American Bank for Economic Integration; and the European Bank for Reconstruction and Development. The Islamic Development Bank is among the leading multilateral development banks. IsDB is the only multilateral development bank after the World Bank that is global in terms of its membership. 56 member countries of IsDB are spread over Asia, Africa, Europe and Latin America.

Founded Name Notes HQ
1959 IDB Interamerican Development Bank Works in the Americas, but primarily for development in Latin America and the Caribbean Washington
1960 CABEI Central American Bank for Economic Integration Central America Tegucigalpa
1964 AfDB African Development Bank Africa Abidjan
1973 IsDB Islamic Development Bank Group 56 countries in Asia, Africa, Europe, and Latin America Jeddah
1966 ADB Asian Development Bank Asia Manila
1970 CAF Development Bank of Latin America Latin America Caracas
29/5/91 EBRD European Bank for Reconstruction and Development London
1956 CEB Council of Europe Development Bank Coordinated organisation Paris
14/11/73 BOAD Banque ouest-africaine de développement West African Development Bank Union économique et monétaire ouest-africaine, Cf.BCEAO Banque centrale des États de l'Afrique de l'Ouest Lomé
1975 BDEAC Banque de developpement des États de l'Afrique centrale, Development Bank of Central African States Communauté économique et monétaire de l'Afrique centrale (CEMAC). Not to be confused with BEAC Banque des États de l’Afrique centrale Brazzaville, Congo
2006 EDB Eurasian Development Bank International financial institution promoting economic growth in the member states and Eurasian integration through investment. Almaty, Kazakhstan

Bilateral development banks and agencies edit

A bilateral development bank is a financial institution set up by one individual country to finance development projects in a developing country and its emerging market, hence the term bilateral, as opposed to multilateral. Examples include:

Other regional financial institutions edit

Financial institutions of neighboring countries established themselves internationally to pursue and finance activities in areas of mutual interest; most of them are central banks, followed by development and investment banks. The table below lists some of them in chronological order of when they were founded or listed as functioning as a legal entity. Some institutions were conceived and started working informally 2 decades before their legal inception (e.g. the South East Asian Central Banks Centre)

Founded Name www Address Notes HQ
17/5/1930 BIS Bank for International Settlements http://www.bis.org The bank of all central banks, 60 members Basle, Basel, Bâle
1958 EIB European Investment Bank http://www.eib.org [permanent dead link] Created by European Union member states to provide long-term finance, mainly in the EU Luxembourg
2/15/1965 AACB African Association of Central Banks, ABCA Association des Banques Centrales Africaines http://www.aacb.org/ Consists of 40 African central banks Dakar, Senegal.
10/7/1970 IIB International Investment Bank http://www.iib.int Consists of 9 member countries from 3 continents Moscow, Russia
1974 ACU Asian Clearing Union https://www.asianclearingunion.org/ 9 Central Banks
8/1976 NIB Nordic Investment Bank[6] http://www.nib.int Lending operations in its 8 member countries and emerging markets on all continents.[7] Helsinki, Finland
3/2/1982 SEACEN South East Asian Central Banks Centre http://www.seacen.org 19 Asian central banks Kuala Lumpur, Malaysia
24/1/1997 BSTDB Black Sea Trade and Development Bank http://www.bstdb.org 11 member countries,corresponding to the Organization of the Black Sea Economic Cooperation Thessaloniki, Greece
1998 ECB European Central Bank http://www.ecb.int Central bank of 18 EU countries that have adopted the euro Frankfurt am Main

See also edit

References edit

  1. ^ Humphrey, C., & Brugger. (n.d.). The Role of Multilateral Development Banks in Financing the Sustainable Development Goals [Policy Paper]. https://ethz.ch/content/dam/ethz/special-interest/gess/nadel-dam/publications/NADEL_Policy_Paper_MDB_EN_web.pdf
  2. ^ . Archived from the original on 2011-09-05. Retrieved 2011-06-04.
  3. ^ "Homepage". Deginvest.de. Retrieved 2017-04-24.
  4. ^ "Home". Afd.fr. Retrieved 2016-08-01.
  5. ^ "Home". cdcgroup.com/. Retrieved 2017-09-11.
  6. ^ "Nordic Investment Bank". Nib.int. Retrieved 2016-08-01.
  7. ^ . Nib.int. Archived from the original on 2016-08-12. Retrieved 2016-08-01.

External links edit

  • Dataset on all official international lending (230,000 loans, grants and guarantees) by states and multilateral institutions over the period 1790-2015.
  • World Bank page describing MDBs

November 09, 2023
international, financial, institutions, this, article, external, links, follow, wikipedia, policies, guidelines, please, improve, this, article, removing, excessive, inappropriate, external, links, converting, useful, links, where, appropriate, into, footnote,. This article s use of external links may not follow Wikipedia s policies or guidelines Please improve this article by removing excessive or inappropriate external links and converting useful links where appropriate into footnote references June 2018 Learn how and when to remove this template message An international financial institution IFI is a financial institution that has been established or chartered by more than one country and hence is subject to international law Its owners or shareholders are generally national governments although other international institutions and other organizations occasionally figure as shareholders The most prominent IFIs are creations of multiple nations although some bilateral financial institutions created by two countries exist and are technically IFIs The best known IFIs were established after World War II to assist in the reconstruction of Europe and provide mechanisms for international cooperation in managing the global financial system Contents 1 Types 1 1 Multilateral Development Banks 1 2 Bretton Woods institutions 1 3 Regional development banks 1 4 Bilateral development banks and agencies 1 5 Other regional financial institutions 2 See also 3 References 4 External linksTypes editMultilateral Development Banks edit A multilateral development bank MDB is a development bank created by a group of countries that provides financing and professional advice to enhance development An MDB has many members including developed donor countries and developing borrower countries MDBs finance projects through long term loans at market rates very long term loans below market rates also known as credits and grants Additionally MDBs often have a geographic focus area for their development objective With this geographic and thematic focus funding for a variety of ventures often resource intense infrastructure projects is provided Since MDBs are backed by nations they tend to profit from favorable loan conditions compared to other banks and can therefore take more risks in their investment strategy 1 This aids their purpose driven cause The following are usually classified as the main MDBs World Bank European Investment Bank EIB Islamic Development Bank IsDB Asian Development Bank ADB European Bank for Reconstruction and Development EBRD CAF Development Bank of Latin America and the Caribbean CAF Inter American Development Bank Group IDB IADB African Development Bank AfDB New Development Bank NDB Asian Infrastructure Investment Bank AIIB Arab Petroleum Investments Corporation APICORP Eastern and Southern African Trade and Development Bank TDB There are also several sub regional multilateral development banks Their membership typically includes only borrowing nations The banks lend to their members borrowing from the international capital markets Because there is effectively shared responsibility for repayment the banks can often borrow more cheaply than could any one member nation These banks include Caribbean Development Bank CDB Central American Bank for Economic Integration CABEI Council of Europe Development Bank CEB East African Development Bank EADB West African Development Bank BOAD Black Sea Trade and Development Bank BSTDB Economic Cooperation Organization Trade and Development Bank ETDB Eurasian Development Bank EDB North American Development Bank Nadbank There are also several multilateral financial institutions MFIs MFIs are similar to MDBs but they are sometimes separated since they have more limited memberships and often focus on financing certain types of projects European Commission EC International Finance Facility for Immunisation IFFIm International Fund for Agricultural Development IFAD Nordic Investment Bank NIB OPEC Fund for International Development Nederlandse Financieringsmaatschappij voor Ontwikkelingslanden NV FMO International Bank for Economic Co operation IBEC International Investment Bank IIB Arab Bank for Economic Development in Africa BADEA Bretton Woods institutions edit Main article Bretton Woods system The best known IFIs were established after World War II to assist in the reconstruction of Europe and provide mechanisms for international cooperation in managing the global financial system They include the World Bank the IMF and the International Finance Corporation Today the largest IFI in the world is the European Investment Bank which lent 61 billion euros to global projects in 2011 Founded Name Notes HQ1944 IMF International Monetary Fund permanent dead link Specialised agency of the UN Washington DC1944 IBRD International Bank for Reconstruction and Development World Bank Group Specialised agency of the UN Washington DC1956 IFC International Finance Corporation World Bank Group Washington DC1960 IDA International Development Association World Bank Group Washington DC1966 ICSID International Centre for Settlement of Investment Disputes World Bank Group Washington DC1988 MIGA Multilateral Investment Guarantee Agency World Bank Group Washington DC1995 GATT General Agreement on Tariffs and Trade basis for the creation of World Trade Organization WTO in 1995 permanent dead link The GATT is not an organisation The WTO is not a United Nations agency Geneva for the WTORegional development banks edit The regional development banks consist of several regional institutions that have functions similar to the World Bank group s activities but with particular focus on a specific region Shareholders usually consist of the regional countries plus the major donor countries The best known of these regional banks cover regions that roughly correspond to United Nations regional groupings including the Inter American Development Bank the Asian Development Bank the African Development Bank the Central American Bank for Economic Integration and the European Bank for Reconstruction and Development The Islamic Development Bank is among the leading multilateral development banks IsDB is the only multilateral development bank after the World Bank that is global in terms of its membership 56 member countries of IsDB are spread over Asia Africa Europe and Latin America Founded Name Notes HQ1959 IDB Interamerican Development Bank Works in the Americas but primarily for development in Latin America and the Caribbean Washington1960 CABEI Central American Bank for Economic Integration Central America Tegucigalpa1964 AfDB African Development Bank Africa Abidjan1973 IsDB Islamic Development Bank Group 56 countries in Asia Africa Europe and Latin America Jeddah1966 ADB Asian Development Bank Asia Manila1970 CAF Development Bank of Latin America Latin America Caracas29 5 91 EBRD European Bank for Reconstruction and Development London1956 CEB Council of Europe Development Bank Coordinated organisation Paris14 11 73 BOAD Banque ouest africaine de developpement West African Development Bank Union economique et monetaire ouest africaine Cf BCEAO Banque centrale des Etats de l Afrique de l Ouest Lome1975 BDEAC Banque de developpement des Etats de l Afrique centrale Development Bank of Central African States Communaute economique et monetaire de l Afrique centrale CEMAC Not to be confused with BEAC Banque des Etats de l Afrique centrale Brazzaville Congo2006 EDB Eurasian Development Bank International financial institution promoting economic growth in the member states and Eurasian integration through investment Almaty KazakhstanBilateral development banks and agencies edit A bilateral development bank is a financial institution set up by one individual country to finance development projects in a developing country and its emerging market hence the term bilateral as opposed to multilateral Examples include the Netherlands Development Finance Company FMO 2 headquarters in The Hague one of the largest bilateral development banks worldwide the DEG German Investment Corporation or Deutsche Investitions und Entwicklungsgesellschaft 3 headquartered in Cologne Germany the French Development Agency 4 and Caisse des depots founded 1816 both headquartered in Paris France the CDC Group 5 is a development finance institution owned by the UK Government headquartered in London Other regional financial institutions edit Financial institutions of neighboring countries established themselves internationally to pursue and finance activities in areas of mutual interest most of them are central banks followed by development and investment banks The table below lists some of them in chronological order of when they were founded or listed as functioning as a legal entity Some institutions were conceived and started working informally 2 decades before their legal inception e g the South East Asian Central Banks Centre Founded Name www Address Notes HQ17 5 1930 BIS Bank for International Settlements http www bis org The bank of all central banks 60 members Basle Basel Bale1958 EIB European Investment Bank http www eib org permanent dead link Created by European Union member states to provide long term finance mainly in the EU Luxembourg2 15 1965 AACB African Association of Central Banks ABCA Association des Banques Centrales Africaines http www aacb org Consists of 40 African central banks Dakar Senegal 10 7 1970 IIB International Investment Bank http www iib int Consists of 9 member countries from 3 continents Moscow Russia1974 ACU Asian Clearing Union https www asianclearingunion org 9 Central Banks8 1976 NIB Nordic Investment Bank 6 http www nib int Lending operations in its 8 member countries and emerging markets on all continents 7 Helsinki Finland3 2 1982 SEACEN South East Asian Central Banks Centre http www seacen org 19 Asian central banks Kuala Lumpur Malaysia24 1 1997 BSTDB Black Sea Trade and Development Bank http www bstdb org 11 member countries corresponding to the Organization of the Black Sea Economic Cooperation Thessaloniki Greece1998 ECB European Central Bank http www ecb int Central bank of 18 EU countries that have adopted the euro Frankfurt am MainSee also edit nbsp Banks portalClimate Investment Funds Development finance institution Financial Stability Board Global financial system National development bankReferences edit Humphrey C amp Brugger n d The Role of Multilateral Development Banks in Financing the Sustainable Development Goals Policy Paper https ethz ch content dam ethz special interest gess nadel dam publications NADEL Policy Paper MDB EN web pdf FMO About FMO Archived from the original on 2011 09 05 Retrieved 2011 06 04 Homepage Deginvest de Retrieved 2017 04 24 Home Afd fr Retrieved 2016 08 01 Home cdcgroup com Retrieved 2017 09 11 Nordic Investment Bank Nib int Retrieved 2016 08 01 Nordic Investment Bank About NIB Nib int Archived from the original on 2016 08 12 Retrieved 2016 08 01 External links editDataset on all official international lending 230 000 loans grants and guarantees by states and multilateral institutions over the period 1790 2015 Bank Information Center World Bank page describing MDBsPortal nbsp Economy Retrieved from https en wikipedia org w index php title International financial institutions amp oldid 1183305779, wikipedia, wiki, book, books, library,

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