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The international financial institutions (IFIs) are financial institutions that have been established

(or chartered) by more than one country, and hence are subjects ofinternational law. Their 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.
Today, the world's largest IFI is the European Investment Bank,[1] with a balance sheet size of Euros
512 billion in 2013.[2] This compares to the two components of the World Bank, the IBRD (assets of
$358 billion in 2014)[3] and the IDA (assets of $183 billion in 2014).[4] For comparison, the largest
commercial banks each have assets of c.$2,000-3,000 billion.
Contents
[hide]

1 Types
o

1.1 Multilateral development bank

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 Notes and references

4 External links

Types[edit]
Multilateral development bank[edit]
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A multilateral development bank (MDB) is an institution, created by a group of countries, that


provides financing and professional advising for the purpose of development. MDBs have large
memberships including both developed donor countries and developing borrower countries. MDBs
finance projects in the form of long-term loans at market rates, very-long-term loans (also known as
credits) below market rates, and through grants.
The following are usually classified as the main MDBs:

World Bank

International Fund for Agricultural Development (IFAD)

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 (CAF)

Inter-American Development Bank Group (IDB, IADB)

African Development Bank (AfDB)

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)

East African Development Bank (EADB)

West African Development Bank (BOAD)

Black Sea Trade and Development Bank (BSTDB)

Eurasian Development Bank (EDB)

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 (OPEC Fund)

Nederlandse Financieringsmaatschappij voor Ontwikkelingslanden NV (FMO)

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.

Founde
d

1944

Name

IMF International
Monetary Fund

www Address

Notes

Specialise
http://www.imf.org

d agency
of the UN

HQ

Washingto
n, DC

World
IBRD Internationa
1944

l Bank for
Reconstruction
and Development

Bank
http://www.worldbank.org

Group,

Washingto

Specialise

n, DC

d agency
of the UN

IFC International
1956

1960

Finance

World
http://www.ifc.org

Bank

Corporation

Group

IDA International

World

Development

http://www.worldbank.org/ida

Association

Bank
Group

Washingto
n, DC

Washingto
n, DC

ICSID, Internation
al Centre for
1966

Settlement of
Investment

http://icsid.worldbank.org/ICSID/Index.js
p

World
Bank
Group

Washingto
n, DC

Disputes

MIGA Multilateral
1988

Investment
Guarantee

World
http://www.miga.org

Bank
Group

Agency

GATT General

The GATT

Agreement on

is not an

Tariffs and Trade,

organisatio

Washingto
n, DC

30/10/4

basis for the

http://www.wto.org/english/docs_e/legal_

n. The

Geneva for

creation of World

e/06-gatt_e.htm http://wto.org

WTO is not

the WTO

Trade

a United

Organization (WT

Nations

O) in 1995

agency

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 toUnited 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.
Founde

Name

www Address

Notes

HQ

Works in the
Americas, but
1959

IDB Interamerican
Development Bank

primarily for
http://www.IADB.org

development

Washington

inLatin
America and
the Caribbean

CABEI Central
1960

American Bank for

http://www.cabei.org

Central America

Tegucigalpa

http://www.afdb.org

Africa

Abidjan

Economic Integration

1964

AFDB African
Development Bank

56 Countries in

IsDB Islamic
1973

Development Bank

http://www.isdb.org

Group

1966

1970

ADB Asian
Development Bank

CAF - Development

Asia, Africa,
Europe, and Latin

Jeddah

America

http://www.adb.org

Asia

Manila

http://www.caf.com

Latin America

Caracas

Bank of Latin
America

EBRD European
29/5/91

Bank for
Reconstruction and

http://www.ebrd.com

London

Development

CEB Council of
16/4/56

Europe Development
Bank

http://www.coebank.or

Coordinated

organisation

Paris

Union conomique

14/11/73

BOAD Banque

et montaire

ouest-africaine de

ouest-africaine,

dveloppement West http://www.boad.org

Cf.BCEAO Banqu

African Development

e centrale des

Bank

tats de l'Afrique

Lom

de l'Ouest

Communaut

BDEAC Banque de

conomique et

dveloppement des

montaire de

tats de l'Afrique
1975

Centrale,
DBCAS Developmen
t Bank of Central
African States

http://www.bdeac.org

l'Afrique centrale

Brazzaville,Cong

(CEMAC),

Cf. BEAC Banque


des tats de
lAfrique centrale