International Financial Institutions

1. WORLD BANK
International Bank for Reconstruction and Development (IBRD)
International Finance Corporation (IFC)
International Development Association (IDA)
International Centre for the Settlement of Investment Disputes (ICSID)
Multilateral Investment Guarantee Agency (MIGA, est.)

2. INTERNATIONAL MONETARY FUNDS (IMF)
3. AFRICAN DEVELOPMENT BANK (AFDB)
4. EUROPEAN BOARD RECONSTRUCTION DEVELOPMENT
(EBRD)
5. ASIAN DEVELOPMENT BANK (ADB)
IMF
The IMF came into formal existence in December 1945, when
its first 29 member countries signed its Articles of Agreement.
It provides a forum for cooperation on international monetary
problems
It facilitates the growth of international trade, thus promoting
job creation, economic growth, and poverty reduction;
It promotes exchange rate stability and an open system of
international payments; and
Lend countries foreign exchange when needed, on a temporary
basis and under adequate safeguards, to help them address
balance of payments problems.

Functions of IMF
policy advice to government and central banks based on
analysis of economic trends and cross-country experiences;
research, statistics, forecasts, and analysis based on tracking of
global, regional, and individual economies and markets;
loans to help countries overcome economic difficulties;
concessional loans to help fight poverty in developing
countries; and
technical assistance and training to help countries improve the
management of their economies.

World Bank
The World Bank Group is comprised of five separate entities:
the International Bank for Reconstruction and Development (IBRD,
est. 1945),
the International Finance Corporation (IFC, est. 1956),
the International Development Association (IDA, est. 1960),
the International Centre for the Settlement of Investment Disputes
(ICSID, est. 1966) and the
Multilateral Investment Guarantee Agency (MIGA, est. 1988).
International Bank for Reconstruction and
Development (IBRD)
The International Bank for Reconstruction and Development (IBRD) aims to reduce
poverty in middle-income and creditworthy poorer countries by promoting sustainable
development through loans, guarantees, risk management products, and analytical
and advisory services.
Established in 1944 as the original institution of the World Bank Group, IBRD is
structured like a cooperative that is owned and operated for the benefit of its 187
member countries .
IBRD raises most of its funds on the world's financial markets and has become one of
the most established borrowers since issuing its first bond in 1947.
The income that IBRD has generated over the years has allowed it to fund
development activities and to ensure its financial strength, which enables it to borrow
at low cost and offer clients good borrowing terms.
International Development Association (IDA)
To promote economic development in the world's poorest
countriesthose that cannot afford to borrow from the IBRD.
164 member countries
till., 2002,About 81 countries were eligible to borrow
sources of financing :members' subscriptions; periodic
"replenishments" provided by richer members and certain special
contributions; and transfer of income from the IBRD and repayments
on IDA credits.

loan term is more than 20years and interest is lowest


IFC
It functions as the biggest source of equity and debt financing for
private sector projects that are taking place in the developing
nations
Loan term period is usually10 and comparatively high interest rate
182 member countries

MIGA
Its current membership stands at 175 countries.
Basically, to promote FDI in developing countries
offering political risk insurance to investors and lenders, and by
helping developing countries attract and retain private investment.

MIGA is a member of the World Bank Group. Mission is to promote
foreign direct investment (FDI) into developing countries to help
support economic growth, reduce poverty, and improve people's
lives.
International Centre for Settlement of Investment Disputes (ICSID)
ICSID is an autonomous international institution established under the Convention on
the Settlement of Investment Disputes between States and Nationals of Other States
(the ICSID or the Washington Convention).
Signatory member states 157. Of these, 147 States have also deposited their
instruments of ratification, acceptance or approval of the Convention.

The Convention sets forth ICSID's mandate, organization and core functions. The
primary purpose of ICSID is to provide facilities for conciliation and arbitration of
international investment disputes.

The ICSID Convention is a multilateral treaty formulated by the Executive Directors of
the International Bank for Reconstruction and Development (the World Bank).
It was opened for signature on March 18, 1965 and entered into force on October 14,
1966.