International Financial Institutions New

International financial institutions
An international financial institution (IFI) is a • Inter-American Development Bank Group (IDB,

financial institution that has been established (or char- IADB)
tered) by more than one country, and hence are subjects
• African Development Bank (AfDB)
of international law. Its owners or shareholders are gen-
erally national governments, although other international • Asian Infrastructure Investment Bank (AIIB)
institutions and other organizations occasionally figure as
shareholders. The most prominent IFIs are creations of There are also several “sub-regional” multilateral devel-
multiple nations, although some bilateral financial institu- opment banks. Their membership typically includes only
tions (created by two countries) exist and are technically borrowing nations. The banks lend to their members,
IFIs. The best known IFIs were established after World borrowing from the international capital markets. Be-
War II to assist in the reconstruction of Europe and pro- cause there is effectively shared responsibility for repay-
vide mechanisms for international cooperation in manag- ment, the banks can often borrow more cheaply than
ing the global financial system. could any one member nation. These banks include:
Today, the world’s largest IFI is the European Investment • Caribbean Development Bank (CDB)
Bank,[1] with a balance sheet size of Euros 512 billion
in 2013.[2] This compares to the two components of the • Central American Bank for Economic Integration
World Bank, the IBRD (assets of $358 billion in 2014)[3] (CABEI)
and the IDA (assets of $183 billion in 2014).[3] For com- • East African Development Bank (EADB)
parison, the largest commercial banks each have assets of
c.$2,000-3,000 billion. • West African Development Bank (BOAD)
• Black Sea Trade and Development Bank (BSTDB)
1 Types • Economic Cooperation Organization Trade and De-

velopment Bank (ETDB)
1.1 Multilateral development banks • Eurasian Development Bank (EDB)

• New Development Bank (NDB) (formerly BRICS
A multilateral development bank (MDB) is an insti- Development Bank)
tution, created by a group of countries, that provides
financing and professional advising for the purpose of There are also several multilateral financial institutions
development. MDBs have large memberships including (MFIs). MFIs are similar to MDBs but they are some-
both developed donor countries and developing borrower times separated since they have more limited mem-
countries. MDBs finance projects in the form of long- berships and often focus on financing certain types of
term loans at market rates, very-long-term loans (also projects.
known as credits) below market rates, and through grants.
• European Commission (EC)
The following are usually classified as the main MDBs:
• International Finance Facility for Immunisation (IF-
• World Bank FIm)
• International Fund for Agricultural Development • International Fund for Agricultural Development
(IFAD) (IFAD)
• Nordic Investment Bank (NIB)
• European Investment Bank (EIB)
• OPEC Fund for International Development (OFID)
• Islamic Development Bank (IsDB)
• Nederlandse Financieringsmaatschappij voor On-
• Asian Development Bank (ADB) twikkelingslanden NV (FMO)
• European Bank for Reconstruction and Develop- • International Investment Bank (IIB)
ment (EBRD)
• Arab Bank for Economic Development in Africa
• CAF - Development Bank of Latin America (CAF) (BADEA)
1
2 4 EXTERNAL LINKS
1.2 Bretton Woods institutions 1.5 Other regional financial institutions
Main article: Bretton Woods system Financial institutions of neighboring countries estab-
lished themselves internationally to pursue and finance
activities in areas of mutual interest; most of them are
The best-known IFIs were established after World War
central banks, followed by development and investment
II to assist in the reconstruction of Europe and provide
banks. The table below lists some of them in chronologi-
mechanisms for international cooperation in managing
cal order of when they were founded or listed as function-
the global financial system . They include the World
ing as a legal entity. Some institutions were conceived
Bank, the IMF, and the International Finance Corpora-
and started working informally 2 decades before their le-
tion. Today the largest IFI in the world is the European
gal inception (e.g. the South East Asian Central Banks
Investment Bank which lent 61 billion euros to global
Centre)
projects in 2011.
2 See also
1.3 Regional development banks
• National development bank
The regional development banks consist of several re-
gional institutions that have functions similar to the World • Climate Investment Funds
Bank group’s activities, but with particular focus on a
specific region. Shareholders usually consist of the re- • Development finance institution
gional countries plus the major donor countries. The
• Financial Stability Board
best-known of these regional banks cover regions that
roughly correspond to United Nations regional group- • Global financial system
ings, including the Inter-American Development Bank,
the Asian Development Bank; the African Development • New Development Bank
Bank; the Central American Bank for Economic Integra-
tion; and the European Bank for Reconstruction and De-
velopment. The Islamic Development Bank is among the 3 References
leading multilateral development banks. IsDB is the only
multilateral development bank after the World Bank that [1] Maartje van Putten (2008-11-20). Policing the Banks:
is global in terms of its membership. 56 member coun- Accountability Mechanisms for the Financial Sector.
tries of IsDB are spread over Asia, Africa, Europe and Books.google.co.uk. p. 146. Retrieved 2016-08-01.
Latin America.
[2] EIB annual report, 2013
[3]
1.4 Bilateral development banks and agen- [4]
cies
[5] “Die angeforderte Seite wurde leider nicht gefunden”.
Deginvest.de. Retrieved 2016-08-01.
A bilateral development bank is a financial institution
set up by one individual country to finance development [6] “Home”. Afd.fr. Retrieved 2016-08-01.
projects in a developing country and its emerging mar-
ket, hence the term bilateral, as opposed to multilateral. [7] “Nordic Investment Bank”. Nib.int. Retrieved 2016-08-
Examples include: 01.
[8] “Nordic Investment Bank - About NIB”. Nib.int. Re-

trieved 2016-08-01.
• the Netherlands Development Finance Company
FMO,[4] headquarters in The Hague; one of the
largest bilateral development banks worldwide.
4 External links
• the DEG German Investment Corpo-
ration or Deutsche Investitions- und • Bank Information Center
Entwicklungsgesellschaft,[5] headquartered in
• World Bank page describing MDBs
Köln, Germany.
• the French Development Agency,[6] and Caisse des

dépôts, founded 1816, both headquartered in Paris,
France.
3
5 Text and image sources, contributors, and licenses

5.1 Text
• International financial institutions Source: https://en.wikipedia.org/wiki/International_financial_institutions?oldid=750066462 Con-
tributors: Lquilter, Bogdangiusca, Beland, Bobrayner, Woohookitty, Ground Zero, Bgwhite, Yankees76, Derek R Bullamore, Robofish, Ken
Gallager, Eralis, Nick Number, FERN EU, Gregalton, Anaxial, Sm8900, Herbythyme, Johnbod, Naniwako, GillesAuriault, Niceguyedc,
Dthomsen8, UESPArules, Addbot, Yobot, Eurodad, JackieBot, FrescoBot, LucienBOT, Shamastoor, SKas, Wimmeljan, Jonkerz, Sargdub,
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International ﬁnancial institutions

An international ﬁnancial institution (IFI) is a • Inter-American Development Bank Group (IDB,

1 Types • Economic Cooperation Organization Trade and De-

1.1 Multilateral development banks • Eurasian Development Bank (EDB)

1.2 Bretton Woods institutions 1.5 Other regional ﬁnancial institutions

[8] “Nordic Investment Bank - About NIB”. Nib.int. Re-

• the French Development Agency,[6] and Caisse des

5 Text and image sources, contributors, and licenses

5.3 Content license

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