INTERNATIONAL INSTIUTIONS

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.
An institution, 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. 

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 (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) 
  

World bank

The World Bank is an international financial institution that

provides loans and grants to the governments of low- and middle-income
countries for the purpose of pursuing capital projects. The World Bank is the
collective name for the International Bank for Reconstruction and
Development (IBRD) and International Development Association (IDA), two
of five international organizations owned by the World Bank Group. It was
established along with the International Monetary Fund at the 1944 Bretton
Woods Conference. 
The World Bank Group is an extended family of five international
organizations, and the parent organization of the World Bank, the collective
name given to the first two listed organizations, the IBRD and the IDA: 

International Bank for Reconstruction and Development (IBRD) 

The IBRD provides financial services as well as strategic coordination and
information services to its borrowing member countries. The Bank only
finances sovereign governments directly, or projects backed by sovereign
governments. The World Bank Treasury is the division of the IBRD that
manages the Bank's debt portfolio of over $100 billion and
financial derivatives transactions of $20 billion.
The Bank offers flexible loans with maturities as long as 30 years and custom-
tailored repayment scheduling. The IBRD also offers loans in local currencies.
Through a joint effort between the IBRD and the International Finance
Corporation, the Bank offers financing to subnational entities either with or
without sovereign guarantees. For borrowers needing quick financing for an
unexpected change, the IBRD operates a Deferred Drawdown Option which
serves as a line of credit with features similar to the Bank's flexible loan
program.
International Development Association (IDA) 
The International Development Association (IDA) (French: Association
internationale de développement) is an international financial institution which
offers concessional loans and grants to the world's poorest developing
countries. The IDA is a member of the World Bank Group and is
headquartered in Washington, D.C. in the United States. It was established in
1960 to complement the existing International Bank for Reconstruction and
Development by lending to developing countries which suffer from the
lowest gross national income, from troubled creditworthiness, or from the
lowest per capita income. Together, the International Development
Association and International Bank for Reconstruction and Development are
collectively generally known as the World Bank, as they follow the same
executive leadership and operate with the same staff.

International Finance Corporation (IFC) 

The International Finance Corporation (IFC) is an international financial
institution that offers investment, advisory, and asset-management services to
encourage private-sector development in less developed countries. The IFC is
a member of the World Bank Group and is headquartered in Washington,
D.C. in the United States.
It was established in 1956, as the private-sector arm of the World Bank Group,
to advance economic development by investing in for-profit and commercial
projects for poverty reduction and promoting development. The IFC's stated
aim is to create opportunities for people to escape poverty and achieve better
living standards by mobilizing financial resources for private enterprise,
promoting accessible and competitive markets, supporting businesses and
other private-sector entities, and creating jobs and delivering necessary
services to those who are poverty stricken or otherwise vulnerable.
 Multilateral Investment Guarantee Agency (MIGA) 
The Multilateral Investment Guarantee Agency (MIGA) is an international
financial institution which offers political risk insurance and credit
enhancement guarantees. These guarantees help investors protect foreign
direct investments against political and non-commercial risks in developing
countries. MIGA is a member of the World Bank Group and is headquartered
in Washington, D.C. in the United States.

International Centre for Settlement of Investment Disputes (ICSID) 

The International Centre for Settlement of Investment Disputes (ICSID) is
an international arbitration institution established in 1966 for legal dispute
resolution and conciliation between international investors and States. ICSID
is part of and funded by the World Bank Group, headquartered in Washington,
D.C., in the United States. It is an autonomous, multilateral specialized
institution to encourage international flow of investment and mitigate non-
commercial risks by a treaty drafted by the International Bank for
Reconstruction and Development's executive directors and signed by member
countries.

Evolution of criteria
   
Various developments brought the Millennium Development Goals targets for
2015 within reach in some cases. For the goals to be realized, six criteria must
be met: stronger and more inclusive growth in Africa and fragile states, more
effort in health and education, integration of the development and environment
agendas, more as well as better aid, movement on trade negotiations, and
stronger and more focused support from multilateral institutions like the World
Bank.

 Eradicate Extreme Poverty and Hunger

 Achieve Universal Primary Education
 Promote Gender Equality
 Reduce Child Mortality
 Improve Maternal Health
 Combat HIV/AIDS, Malaria, and Other Diseases
 Ensure Environmental Sustainability
 Develop a Global Partnership for Development

 European Investment Bank (EIB)

The European Union's investment bank and is owned by the EU Member
States. It is one of the largest supranational lenders in the world. The EIB
finances and invests both through equity and debt solutions projects that
achieve the policy aims of the European Union through loans, guarantees and
technical assistance.
The EIB focuses on the areas of climate, environment, small and medium
sized enterprises (SMEs), development, cohesion and infrastructure. It has
played a large role in providing finance during crises including the 2008
financial crash and the COVID-19 pandemic. Since its inception in 1958 the
EIB has invested over one trillion euros. It primarily funds projects that
"cannot be entirely financed by the various means available in the individual
Member States".
The EIB is one of the biggest financiers of green finance in the world. In 2007,
the EIB became the first institution in the world to issue green bonds. In 2019
it committed to stop funding fossil fuel projects by the end of 2021. The EIB
plans to invest 1 trillion euros in climate-related projects by 2030 including
a just transition. The EIB is not funded through the budget of the EU. Instead,
it raises money through the international capital markets by issuing bonds. The
EIB is rated triple-A, the most credit-worthy rating on the bond market, by
"the Big Three" credit rating agencies: Moody's, Standard and Poor's, and
Fitch. Each member state pays capital into the EIB's reserves which is broadly
in line with their share of EU gross domestic product.
The EIB was founded by the Treaty of Rome, which came into force on 1
January 1958. It was the first of the world's regional development banks and is
sometimes referred to as the largest multilateral development bank (MDB).
The EIB was established to facilitate equitable development in the EU through
 lending to regions that are less developed and to support the EU's internal
market. The EIB is active in 140 countries throughout the world. It makes
around 10% of its investments outside the EU to support the European Union's
development aid and cooperation policies.
The EIB has been criticised and caused controversy for various actions and
inactions of its own (or projects it funded), including: insufficient stakeholder
consultation, lack of organisational transparency, climate change response, tax
avoidance, and staff harassment.

 Islamic Development Bank 

A multilateral development finance institution that is focused on Islamic
finance for infrastructure development and located in Jeddah, Saudi Arabia.
There are 57 shareholding member states with the largest single shareholder
being Saudi Arabia.
History
It was founded in 1973 by the Finance Ministers at the first Organisation of the
Islamic Conference (now called the Organisation of Islamic Cooperation) with
the support of the King of Saudi Arabia at the time (Faisal), and began its
activities on 3 April 1975.
On the 22 May 2013, IDB tripled its authorized capital to $150 billion to better
serve Muslims in member and non-member countries. The Bank has received
credit ratings of AAA from Standard & Poor's, Moody's, and Fitch. Saudi
Arabia holds about one quarter of the bank's paid up capital. The IDB is
an observer at the United Nations General Assembly.
The present membership of the Bank consists of 57 countries. The basic
condition for membership is that the prospective member country should be a
member of the Organisation of Islamic Cooperation (OIC), pay its contribution
to the capital of the Bank and be willing to accept such terms and conditions as
may be decided upon by the IDB Board of Governors.
Ranked on the basis of paid-up capital (as of August 2015) major shareholders
include:
 Saudi Arabia (26.57%)
 Algeria (10.66%)
 Iran (9.32%)
 Egypt (9.22%)
1. Turkey (8.41%)
2. United Arab Emirates (7.54%)
3. Kuwait (7.11%)
4. Pakistan (3.31%)
5. Libya (3.31%)
6. Indonesia (2.93%)

 Asian Development Bank (ADB)

A regional development bank established on 19 December 1966,  which is
headquartered in the Ortigas Center located in the city of Mandaluyong, Metro
Manila, Philippines. The bank also maintains 31 field offices around the world
to promote social and economic development in Asia. The bank admits the
members of the United Nations Economic and Social Commission for Asia
and the Pacific (UNESCAP, formerly the Economic Commission for Asia and
the Far East or ECAFE) and non-regional developed countries. From 31
members at its establishment, ADB now has 68 members.
The ADB was modeled closely on the World Bank, and has a similar weighted
voting system where votes are distributed in proportion with members' capital
subscriptions. ADB releases an annual report that summarizes its operations,
budget and other materials for review by the public. The ADB-Japan
Scholarship Program (ADB-JSP) enrolls about 300 students annually in
academic institutions located in 10 countries within the Region. Upon
completion of their study programs, scholars are expected to contribute to the
economic and social development of their home countries. ADB is an
official United Nations Observer.
As of 31 December 2020, Japan and the United States each holds the largest
proportion of shares at 15.571%. China holds 6.429%, India holds 6.317%,
and Australia holds 5.773%

 European Bank for Reconstruction and Development (EBRD)

An international financial institution founded in 1991. As a multilateral
developmental investment bank, the EBRD uses investment as a tool to
build market economies. Initially focused on the countries of the
former Eastern Bloc it expanded to support development in more than 30
countries from Central Europe to Central Asia. Similar to other multilateral
development banks, the EBRD has members from all over the world (North
America, Africa, Asia and Australia, see below), with the biggest single
shareholder being the United States, but only lends regionally in its countries
of operations. Headquartered in London, the EBRD is owned by 71 countries
and two European Union institutions, the newest shareholder
being Algeria since October 2021. Despite its public sector shareholders, it
invests in private enterprises, together with commercial partners.
The EBRD is not to be confused with the European Investment Bank (EIB),
which is owned by EU member states and is used to support EU policy. EBRD
is also distinct from the Council of Europe Development Bank (CEB).
Divided between its headquarters located in London, and field offices located
elsewhere, the European Bank for reconstruction and development is made of
a three-tier structure composed of firstly, the president and the staff, secondly
the Board of Governors and finally the Board of Directors. The bank’s
structure has changed over time, because of concerns about competition within
the institution. In fact, in the beginning of the 90s, there were two different
banking divisions (on one side, the merchant banking related to the private
sector and on the other side the development banking side working mostly
with the public sector). Consequently, the two divisions came to be merged
into a single one, substituting this structure with another one instead dividing
the bank with seven policy and country regional sub-divisions.

Board of Governors
Representatives from each member state compose this board, they have
authority power.
 Board of Directors
The Board of Directors consists of 23 members elected by the Board of
Governors. These members can not be on the Board of Governors. Its function
is to direct the general operations of the bank, notably:
 Approve the budget;
 In accordance with the Board of Governors, establishing policies and making
other decisions, loans, investments,...;
 Prepare the work of the Board of Governors;
 Submit yearly for approval the audited accounts to the Board of Governors.
President
The EBRD is composed of many members with voting powers, from European
and non-European states to the membership of other institutions such as the
European Investment Bank, however depending on the geographical location
of each member, voting rights differ. More precisely, European and other
creditor members hold a majority voting power. At its beginning, the EBRD
was owned by more than 40 members, in 2015 the number of countries
owning it was 61. and as of March 2022, there were 71 countries as owners.
The following presidents have served the EBRD to date (as of March 2022).
 Jacques Attali: April 1991 – June 1993
 Jacques de Larosière: September 1993 – January 1998
 Horst Köhler: September 1998 – April 2000
 Jean Lemierre: July 2000 – July 2008
 Thomas Mirow: July 2008 – July 2012
 Suma Chakrabarti: July 2012 – July 2020
 Odile Renaud-Basso [fr]: 2020 – present

Membership
To become a member of the bank, a country needs to fit the EBRD's Articles
of Agreement. These Articles stipulate that a country can only become a
Member State if it is a state in Europe or a non-European member of the IMF.
Institutions like the European Union and the EIB also participate in the bank
operations. Since its foundation the EBRD has almost doubled in membership
size. The latest accessions to the bank are countries located in Africa.
Corporacion Andina de Fomento (CAF) –
A development bank that has a mission of stimulating sustainable development
and regional integration by financing projects in the public and private sectors
in Latin America, and providing technical cooperation and other specialized
services. Founded in 1970 and currently with 19 member countries from Latin
America, the Caribbean, and Europe along with 13 private banks, CAF is one
of the main sources of multilateral financing and an important generator of
knowledge for the region.
CAF is headquartered in Caracas, Venezuela. Additionally, it has
Representative Offices in Madrid, Lima, Brasilia, Bogota, Buenos
Aires, Quito, Panama, Montevideo, Asuncion, Mexico City, Port Spain and La
Paz.
The CAF was founded in 1966 following the historic signing of the Bogotá
Declaration in the presence of its framers, President Carlos Lleras
Restrepo of Colombia, President Eduardo Frei Montalva of Chile,
President Raúl Leoni of Venezuela, and the personal representatives of the
presidents of Ecuador and Peru. The government of Bolivia would join later in
1967. In 1967, a Joint Commission, set up to address regional issues, mapped
out the basic principles of CAF, and on February 7, 1968 the member
countries governments signed its Establishing Agreement in San Carlos
Palace, Bogotá. The Corporation was conceived as a multipurpose bank and
agency for promoting Andean development and integration. Two years later on
June 8, 1970, after opening its headquarters in Caracas, Venezuela, CAF
formally began operations.
The Cartagena Agreement was signed in May 1969 one year after CAF
Establishing Agreement which created the political framework for the Andean
subregional group. CAF began operations with a subscribed capital of $25
million.

In 1971, Bolivia and Ecuador became the first countries to receive loans for
the execution of projects: a rice storage network ($1.3 million) and a fisheries
complex for catching and freezing tropical tuna ($0.5 million).
  Inter-American Development Bank (IDB or IADB)
An international financial institution headquartered in Washington,
D.C., United States of America, and serving as the largest source of
development financing for Latin America and
the Caribbean. Established in 1959, the IDB supports Latin American and
Caribbean economic
development, social development and regional integration by lending to
governments and government agencies, including State corporations.
At the First Pan-American Conference in 1890, the idea of a development
institution for Latin America was first suggested during the earliest efforts to
create an inter-American system. The IDB became a reality under an initiative
proposed by President Juscelino Kubitshek of Brazil. The Bank was formally
created on April 8, 1959, when the Organization of American States drafted
the Articles of Agreement establishing the Inter-American Development Bank.
[2]

Member states
Borrowing members in green, non-borrowing members in red. The Bank is owned by
48 sovereign states, which are its shareholders and members. Only the 26 borrowing
countries are able to receive loans.
 Borrowing: Argentina, The
Bahamas, Barbados, Belize, Bolivia, Brazil, Chile, Colombia, Costa
Rica, Dominican Republic, Ecuador, El
Salvador, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, 
Panama, Paraguay, Peru, Suriname, Trinidad and
Tobago, Uruguay, Venezuela
 Non-borrowing: Austria, Belgium, Canada, China, Croatia, Denmark, Finland, 
France, Germany, Israel, Italy, Japan, Korea, The
Netherlands, Norway, Portugal, Slovenia, Spain, Sweden, Switzerland, United
Kingdom, United States.

African Development Bank Group (AfDB)

A multilateral development finance institution headquartered in Abidjan, Ivory
Coast, since September 2014. The AfDB is a financial provider to African
governments and private companies investing in the regional member
countries (RMC).
The AfDB was founded in 1964 by the Organisation of African Unity, which
is the predecessor of the African Union.
The AfDB comprises three entities: The African Development Bank, the
African Development Fund and the Nigeria Trust Fund.
Mission
The AfDB's mission is to fight poverty and improve living conditions on the
continent through promoting the investment of public and private capital in
projects and programs that are likely to contribute to the economic and social
development of the region.
History
Following the end of the colonial period in Africa, a growing desire for more
unity within the continent led to the establishment of two draft charters, one
for the establishment of the Organisation of African Unity (established in
1963, later replaced by the African Union), and for a regional development
bank.
A draft accord was submitted to top African officials then to the Conference of
Finance Ministers on the Establishment of an African Development Bank. This
conference was convened by the United Nations Economic Commission for
Africa (UNECA) in Khartoum, Sudan, from 31 July to 4 August. It was here
that the agreement establishing the African Development Bank (AfDB) was
cosigned by twenty-three African governments on 4 August 1963. The
agreement came into force on 10 September 1964.
The inaugural meeting of the Board of Governors of the Bank was held from 4
to 7 November 1964 in Lagos, Nigeria. The Bank's headquarters opened in
Abidjan, Ivory Coast, in March 1965 and the Bank's operations commenced on
1 July 1966.
From February 2003 to September 2014, the Bank operated from its
Temporary Relocation Agency in Tunis, Tunisia, owing to the prevailing
political conflict in Ivory Coast during the Ivorian civil war at the time. The
Bank was able to return to its original headquarters in Abidjan in late 2013
once the political crisis was over.
By June 2015, over 1,500 staff had returned to the Bank's Abidjan
headquarters out of the more than 1,900 total staff the Bank.

 New Development Bank (NDB)

According to the Agreement on the NDB, "the Bank shall support public or
private projects through loans, guarantees, equity participation and
other financial instruments." Moreover, the NDB "shall cooperate
with international organizations and other financial entities, and provide
technical assistance for projects to be supported by the Bank.
The initial authorized capital of the bank is $100 billion divided into 1
million shares having a par value of $100,000 each. The initial subscribed
capital of the NDB is $50 billion divided into paid-in shares ($10 billion) and
callable shares ($40 billion). The initial subscribed capital of the bank was
equally distributed among the founding members (Brazil, Russia, India,
People’s Republic of China, South Africa). The Agreement on the NDB
specifies that every member will have one vote no one would have any veto
powers .
The bank is headquartered in Shanghai, China. The first regional office of the
NDB is in Johannesburg, South Africa. The second regional office was
established in 2019 in São Paulo, Brazil, followed by GIFT City, India and
Moscow, Russia.

History
The idea for setting up the bank was proposed by India at the 4th BRICS
summit in 2012 held in Delhi. The creation of a new development bank was
the main theme of the meeting. BRICS leaders agreed to set up a Development
bank at the 5th BRICS summit held in Durban, South Africa on 27 March
2013.
On 15 July 2014, the first day of the 6th BRICS summit held in Fortaleza,
Brazil, the BRICS states signed the Agreement on the New Development
Bank, which makes provisions for the legal basis of the bank. In a separate
agreement, a reserve currency pool worth $100 billion was set up by BRICS
nations.
On 11 May 2015, K. V. Kamath was appointed as the President of the bank.
The 7th BRICS summit in July 2015 marked the entry into force of the
Agreement on the New Development Bank.
On 27 February 2016, the NDB signed Headquarters Agreement with the
Government of the P.R.C. and the Memorandum of Understanding with
Shanghai Municipal People's Government concerning the arrangements in
relation to Headquarters of the bank in Shanghai.
According to the bank, most of the NDB policies and procedures for all
functional areas were approved at the Board of Directors meeting in January
2016.
On 19 July 2016, the NDB reported that it successfully issued the bank's
first green financial bond with issue size of RMB 3 billion, tenor of 5 years in
the China interbank bond market.
On 20 July 2016, the first annual meeting of the NDB Board of Governors was
held in Shanghai. The participants of the meeting discussed Bank's future work
and development and gave a positive assessment to the bank's work. At the
meeting, the first green financial bond issuance in Renminbi was highlighted
as a milestone event for the NDB.

Asian Infrastructure Investment Bank (AIIB)

A multilateral development bank that aims to improve economic and social
outcomes in Asia. It is the world's second largest multi-lateral development
institution. The bank currently has 106 members, including 14 prospective
members from around the world. The breakdown of the 106 members by
continents are as follows: 42 in Asia, 26 in Europe, 21 in Africa, 8 in Oceania,
8 in South America, and 1 in North America. The bank started operation after
the agreement entered into force on 25 December 2015, after ratifications were
 received from 10 member states holding a total number of 50% of the initial
subscriptions of the Authorized Capital Stock.
AIIB within PRC policy thinking:
 Fostering long-term economic development:
The Asian Infrastructure Investment Bank can be construed as a natural inter-
national extension of the infrastructure-driven economic development
framework that has sustained the rapid economic growth of China since the
adoption of the Chinese economic reform under Chinese leader Deng
Xiaoping. It stems from the notion that long-term economic growth can only
be achieved through systematic, and broad-based investments in infrastructure
assets – in contrast with the more short-term "export-driven" and "domestic
consumption" development models favored by mainstream Western
Neoclassical economists and pursued by many developing countries in the
1990s and the first decade of the 21st century with generally disappointing
results.

 Infrastructure as regional integration and foreign policy tool:

In his 29 March 2015 speech at the Boao Forum for Asia (BFA) annual
conference, Chinese leader Xi Jinping said: The Chinese economy is deeply
integrated with the global economy and forms an important driving force of
the economy of Asia and even the world at large. […] China's investment
opportunities are expanding. Investment opportunities in infrastructure
connectivity as well as in new technologies, new products, new business
patterns, and new business models are constantly springing up. […] China's
foreign cooperation opportunities are expanding. We support the multilateral
trading system, devote ourselves to the Doha Round negotiations, advocate the
Asia-Pacific free trade zone, promote negotiations on regional comprehensive
economic partnership, advocate the construction of the Asian Infrastructure
Investment Bank (AIIB), boost economic and financial cooperation in an all-
round manner, and work as an active promoter of economic globalization and
regional integration. Academic Suisheng Zhao writes that China's launching of
the AIIB was intended by China to reduce tensions caused by the United
States' efforts to delay reform of the Bretton Woods system, intended to
provide international public goods, and intended to provide China with
increased participation in international rule-making.
Shareholding structure:
The Authorized Capital Stock of the bank is $100 billion (US dollars), divided
into 1 million shares of $100,000 each. Twenty percent are paid-in shares (and
thus have to be transferred to the bank), and 80% are callable shares.[2] The
allocated shares are based on the size of each member country's economy
(calculated using GDP Nominal (60%) and GDP PPP (40%)) and whether they
are an Asian or Non-Asian Member. The total number of shares will determine
the fraction of authorized capital in the bank.Of the prospective founding
members, three states decided not to subscribe to all allocated shares:
Malaysia, Portugal, and Singapore, resulting in 98% of available shares being
subscribed.
Three categories of votes exist: basic votes, share votes and Founding Member
votes. The basic votes are equal for all members and constitute 12% of the
total votes, while the share votes are equal to the number of shares. Each
Founding Member furthermore gets 600 votes. An overview of the shares,
assuming when all 57 Prospective Founding Members have become Founding
Members is shown below (values in bold do not depend on the number of
members).

Trade and Development Bank (TDB),

Formerly the PTA Bank, is a trade and development financial institution
operating in eastern and southern Africa. TDB is the financial arm of
the Common Market for Eastern and Southern Africa (COMESA), although
membership is open to non-COMESA states and other institutional
shareholders.
As of December 2018, TDB was a large financial institution with assets
exceeding US$5.56 billion. The bank had 38 shareholders, across two classes
of shares, with shareholders' equity in excess of US$1.19 billion
The Eastern and Southern African Trade and Development Bank, also known
as TDB, was established on 6 November 1985 under Chapter Nine of the
Treaty for the Establishment of the Preferential Trade Area for Eastern and
 Southern African States, which entered into effect on 2 September 1982 and
was subsequently replaced by the Treaty for the Establishment of the Common
Market for Eastern and Southern Africa of 1994 that established
COMESA. TDB is the financial arm of COMESA.
Shareholders:
The membership of the TDB includes twenty-two member states, nineteen of
which are COMESA members. The People's Republic of China was the first
non-regional member state to join TDB in 2000. The African Development
Bank (AfDB) is a major institutional shareholder, alongside eleven other
institutional investors, including the Arab Bank for Economic Development in
Africa (BADEA) and OPEC Fund (The OPEC Fund for International
Development).

The following countries are the African member states of TDB

 Burundi
 Comoros
 Democratic Republic of the Congo
 Djibouti
 Egypt
 Eritrea
 Eswatini
 Ethiopia
 Kenya
 Madagascar
 Malawi
 Mauritius
 Mozambique
 Rwanda
 Seychelles
 Somalia
 South Sudan
 Sudan
 Tanzania
 Uganda
 Zambia
 Zimbabwe
Board of governances
The Board of Governors is the supreme authority of TDB. It is composed of
shareholder representatives, with each shareholder designating one
representative and one alternate.

Board of directors
The board of directors is responsible for the conduct of the general operations
of TDB. As of March 2019, the following were the members of the board of
directors.
 Juste Rwamabuga - Chairman and Director
 Gerard Bussier - Director
 Mohamed Kalif - Director
 Mingzhi Liu, Director
 Abdel-Rahaman Taha - Director
 Isabel Sumar - Director
 Said Mhamadi - Director representing the ADB
 Peter Simbani, Director
 Christian Rwakunda, Director
 Busiswe Alice Dlamini-Nsibande, Director
 Admassu Tadesse, Director (Executive)
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)
A financial institution that helps Caribbean nations finance social and
economic programs in its member countries. CDB was established by an
Agreement signed on October 18, 1969, in Kingston, Jamaica, and entered into
force on January 26, 1970. The permanent headquarters of the bank is located
at Wildey, St. Michael, Barbados; adjacent to the campus of the Samuel
Jackman Prescod Polytechnic. On September 21, 2018, the Bank officially
opened its Country Office in Haiti, the first outside its Headquarters in
Barbados. The Barbados headquarters serves all of the regional borrowing
member countries with staff recruited from its member countries.
CDB's membership of 28 countries consists of 19 regional borrowing
members, four regional, non-borrowing members (Brazil, Colombia, Mexico
and Venezuela) and five non-regional, non-borrowing members (Canada,
China, Germany, Italy, and the United Kingdom).
CDB’s total assets as at December 31, 2021 stood at US$3.71 billion (bn).
These include US$2.21 bn of Ordinary Capital Resources and US$1.50 bn of
Special Funds Resources. The Bank is rated Aa1 Stable by Moody’s, AA+
Stable by Standard & Poor’s and AA+ Stable by Fitch Ratings. In 2021, the
Bank approved loans and grants of US$269.5 million.
At the end of 2020, the total value of projects approved by the bank was
US$122.6 million. This includes US$71.2 million in loans and US$51.4
million in grants.

Central American Bank for Economic Integration (CABEI)

The Central American Bank for Economic Integration - CABEI (BCIE in
Spanish) was founded in 1960. It is an international multilateral development
financial institution. Its resources are invested in projects that foster
development to reduce poverty and inequality; strengthen regional integration
 and the competitive insertion of its member countries in the global economy;
providing special attention to environmental sustainability. Its headquarters are
in Tegucigalpa (Honduras) and has regional offices
in Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica and Panama.
Mission : CABEI is a multilateral development bank whose mission is to
promote the economic integration and the balanced economic and social
development of the Central American region, which includes the founding
countries and the non-founding regional countries, attending and aligning itself
with the interests of all of its member countries
Vision : CABEI's vision[2] consists of being the strategic ally of its member
countries in the provision of financial solutions that contribute to the creation
of employment and improvement of the well-being and quality of life of its
citizens.

Members:
 Founding countries: Guatemala, Honduras, El Salvador, Nicaragua and Costa
Rica. These countries signed the founding covenant which establishes the
CABEI, in the decision frame adopted by their governments to promote
regional economic integration.
 Non-founding regional countries: Panama and Dominican Republic, which take
part in the Central American Integration System (SICA in its Spanish initials)
and are represented before CABEI's Board of Directors and Governors'
Assembly.
 Non-regional countries: Mexico, Cuba, Republic of
China, Argentina, Colombia, Spain, and Republic of Korea. They have
deemed important to join CABEI with the aim of having a permanent regional
presence, thus enlarging their international projection through supporting
founding countries' development. They also have named representatives before
CABEI's Board of Directors and Governors' Assembly.
 Beneficiary countries: Belize. It has joined the CABEI to receive loans and
guarantees, same as regional countries, but, unlike them, Belize has not bought
 shares of the institution. Apart from regional countries, Argentina and Colombia
enjoy the capacity of receiving CABEI's loans and guarantees.


East African Development Bank (EADB)

The East African Development Bank (EADB) is a development finance
institution with the objective of promoting development in the member
countries of the East African Community.
EADB plays a threefold role of lender, adviser, and development partner. The
bank provides a range of products and services that are tailored for the region's
development requirements. The bank has experience, financial backing, staff,
and a knowledge of the region's financial requirements. As of December 2017,
the institution's total assets were valued at approximately US$390.411 million,
with shareholders' equity of approximately US$261.36 million.
EADB was established in 1967 under the treaty of the then East African
Cooperation between Kenya, Tanzania, and Uganda. Following the breakup of
the first East African Community (EAC) in 1977, the bank was re-established
under its own charter in 1980. In 2008, following the admission of Burundi
and Rwanda into the new EAC, Rwanda applied and was admitted into the
EADB. Under the new charter, the bank's role and mandate were reviewed and
its operational scope expanded. Under its expanded operational scope, the
bank offers a broad range of financial services in the member states. Its main
objective is to strengthen socio-economic development and regional
integration.

West African Development Bank (BOAD)

The West African Development Bank - WADB (fr. Banque Ouest Africaine de
Développement - BOAD / pt. Banco de Desenvolvimento do Oeste
Africano - BDOA) is an international Multilateral Development
Bank established in 1973 to serve the nations
of Francophone and Lusophone West Africa. The BOAD is organised by
the Central Bank of West African States and its eight member
governments: Benin, Burkina Faso, Guinea Bissau, Côte
d'Ivoire, Mali, Niger, Senegal and Togo. It is funded by member states, foreign
governments and international agencies. Its headquarters are in Lomé, Togo.
The BOAD was created 14 November 1973 by member states of the West
African Monetary Union (WAMU). The original charter focused on
development of member economies towards balanced development and to
prepare economies for future West African economic integration. In 1994, it
became the development arm of the West African Economic and Monetary
Union (WAEMU/UEMOA).
Structure: Since that time several international organisations have become
members of the bank, adding funding and sitting on the board. These include
The African Development Bank, the European Investment Bank, the Export
and Import Bank of India (Exim Bank), and the People's Bank of China. The
president of the bank's board is chosen by the heads of state of UEMOA, and
since January 2008, Abdoulaye Bio-Tchane. The Bank's day-to-day operations
are carried out by the President and the Bank adminmanager, cabinet,
directorships of departments based in Lome, and mission offices based in the
member nations.

Black Sea Trade and Development Bank (BSTDB)

The Black Sea Trade and Development Bank (BSTDB) is an international
financial institution serving the eleven member founding countries of
the Black Sea Economic Cooperation, a regional economic organization. It
supports economic development and regional cooperation by providing loans,
guarantees, and equity for development projects and trade transactions.
BSTDB supports both public and private enterprises in member countries and
does not attach political conditionality to its financing.
Objectives of the bank include promoting regional trade links, cross country
projects, foreign direct investment, supporting activities that contribute to
sustainable development, with an emphasis on the generation of employment
in the member countries, ensuring that each operation is economically and
financially sound. The bank has an authorized capital of EUR 3.45 billion.
BSTDB is governed by the Agreement Establishing the Black Sea Trade and
Development Bank, a United Nations registered treaty. The Agreement came
into force on January 24, 1997.[1] BSTDB commenced its operational activities
in June 1999.
Moody's Investors Service rates BSTDB "A2" long term with stable
outlook. Standard & Poor's rating agency assigned BSTDB a long term issuer
rating of "A−" with stable outlook. Scope Ratings evaluates BSTDB at A- with
negative outlook.

Management : The Bank is overseen by the Board of Governors, Board of

Directors, the President, three Vice Presidents and the Secretary General. The
head of the Board of Directors and the chief executive of the Bank is the
Director. Board of Directors appoints the Vice Presidents and the Secretary
General. In 2018, Dmitry Pankin was appointed the President for the term of
four years.

Economic Cooperation Organization Trade and Development

Bank (ETDB)
The Economic Cooperation Organization or ECO is an Asian political and
economic intergovernmental organization that was founded in 1985
in Tehran by the leaders of Iran, Pakistan, and Turkey. It provides a platform
to discuss ways to improve development and promote trade and investment
opportunities. The ECO is an ad hoc organisation under the United Nations
Charter
The current framework of the ECO expresses itself mostly in the form of
bilateral agreements and arbitration mechanisms between individual and fully
sovereign member states. That makes the ECO similar to ASEAN in that it is
an organisation that has its own offices and bureaucracy for implementation of
trade amongst sovereign member states. This consists of the historically
integrated agricultural region of the Ferghana Valley which allows for trade
and common agricultural production in the border region between Kyrgyzstan,
Tajikistan and Uzbekistan. Pakistan has free trade agreements with both
Afghanistan and Iran which are in the process of implementation.
In 2017, a free trade agreement between Turkey and Iran was proposed to be
signed in the future, in addition to a proposed Pakistan-Turkey Free Trade
Agreement. The Afghanistan-Pakistan Transit Trade Agreement is designed to
facilitate trade for goods and services for Central Asia via both Afghanistan
and Pakistan.
 That is in addition to the Ashgabat agreement, which is a multi-modal
transport agreement between the Central Asian states. Further cooperation
amongst members is planned in the form of the Iran–Pakistan gas pipeline, as
well as a Turkmenistan–Afghanistan–Pakistan pipeline. Current pipelines
include the Tabriz–Ankara pipeline in addition to the planned Persian Pipeline.
This is in addition to the transportation of oil and gas from Central Asian states
such as Kazakhstan and Turkmenistan to supply the industrialisation underway
in Iran, Pakistan, Turkey, and beyond.
Pakistan plans to diversify its source of oil and gas supplies towards the
Central Asian states including petroleum import contracts with Azerbaijan.
The ECO's secretariat and cultural department are in Iran, its economic bureau
is in Turkey, and its scientific bureau is in Pakistan.

Eurasian Development Bank (EDB)

The Eurasian Development Bank (EDB) is an international financial institution
investing in the development of the economies, trade and other economic ties,
and integration in Eurasian countries. The EDB was founded in 2006 and is
headquartered in Almaty, Kazakhstan. The Bank has a branch in St.
Petersburg and representative offices in Nur-
Sultan, Bishkek, Dushanbe, Yerevan, Minsk, and Moscow.
The founding of the Eurasian Development Bank on 12 January 2006 was
initiated by the Presidents of Russia and Kazakhstan. It began operating in
June 2006.
Armenia and Tajikistan joined the EDB in 2009, Belarus in 2010, and
the Kyrgyz Republic in 2011. In January 2013, the Organisation for Economic
Cooperation and Development recognised the EDB as a multilateral financial
institution.
Membership:
 The present membership of the Bank consists of 6 countries. Other states and
international organisations can become members by acceding to the
Agreement Establishing the Bank.
Ranked on the basis of paid-up capital (as of January 2023) major shareholders
include:
1. Russia (44.78 %)
2. Kazakhstan (37.28%)
3. Belarus (5.21 %)
4. Tajikistan (4.25%)
5. Kyrgyzstan (4.22%)
6. Armenia (4.22%)
Potential members:
 During an interview, Dmitry Pankin, chairman of the EDB's management board,
stated that there were 12 countries expressing to join, including Azerbaijan,
Egypt, Israel, India, Indonesia, Iran, Japan, Mongolia, Singapore, Thailand, the
Republic of Korea and Vietnam.
 Moldova: In November 2019, Moldova confirmed its intention to join the
Eurasian Development Bank during a meeting in Moscow.
  Hungary: Hungary expressed its interest to join the Eurasian Development
Bank. Hungarian finance minister Mihály Varga stated that the Hungarian
government is aiming for full membership by 2020.[9] As a former member
of Comecon, Hungary will be the first former Warsaw Pact state to join the
EDB.

North American Development Bank (Nadbank)

The North American Development Bank (NADBank) is a binational
financial institution capitalized and governed equally by the Federal
Governments of the United States of America and Mexico to provide financing
to support the development and implementation of infrastructure projects.
The NADBank was established by the Border Environment Cooperation
Agreement of November 1993 (Agreement Between the Government of the
United States of America and the Government of the United Mexican States
 Concerning the Establishment of a Border Environment Cooperation
Commission and a North American Development Bank.)
In the United States, participation by the government was authorized by North
American Free Trade Agreement Implementation Act 
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

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.

Regional development banks

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
Bilateral development banks and agencies
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,[1] headquarters in The
Hague; one of the largest bilateral development banks worldwide.
 the DEG German Investment Corporation or Deutsche Investitions- und
Entwicklungsgesellschaft,[2] headquartered in Cologne, Germany.
 the French Development Agency,[3] and Caisse des dépôts, founded 1816, both
headquartered in Paris, France.
 the CDC Group,[4] is a development finance institution owned by the UK
Government headquartered in London.

Other regional financial institutions

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)