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International financial institutions, or IFIs, refers to financial institutions that

have been established (or chartered) by more than one country, and hence are

subjects of international 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. Many of these are multilateral

development banks.

The best-known IFIs are the World Bank, the IMF, and the regional development

banks. Some of the IFIs are considered UN agencies.

Types of IFIs

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.

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 (which works in the Americas, but primarily for


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development in Latin America and the Caribbean); the Asian Development Bank;

the African Development Bank; and the European Bank for Reconstruction and

Development.

Bilateral development banks

Bilateral development banks are financial institutions set up by individual

countries to finance development projects in developing countries and emerging

markets. Examples include the Netherlands Development Finance Company FMO

and the German Development Bank DEG.

Other regional financial institutions

Several regional groupings of countries have established international financial

institutions to finance various projects or activities in areas of mutual interest. The

largest and most important of these is the European Investment Bank, an institution

established by the members of the European Union. Other examples include the

Black Sea Development Bank, the International Investment Bank (established by

the countries of the former Soviet Union and Eastern Europe), the Islamic

Development Bank and the Nordic Investment Bank.


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List of IFI

AfDB African Development Bank(Tunis, Tunisia)

ADB Asian Development Bank(Manila, Philippines)

BIS Bank for International Settlements (Basel, Switzerland)

BSTDB Black Sea Trade and Development Bank(Thessaloniki, Greece)

CDB Caribbean Development Bank(St. Michael, Barbados)

CEB Council of Europe Development Bank(Paris, France)

EBRDEuropean Bank for Reconstruction and Development (London, United

Kingdom)

ECB European Central Bank(Frankfurt, Germany)

EIB European Investment Bank(Luxembourg, Luxembourg)

IADB Inter-American Development Bank(Washington DC, United States of America)

IFC International Finance Corporation (Washington DC, United States of America)

IMF International Monetary Fund (Washington DC, United States of America)

IsDB Islamic Development Bank(Jeddah, Saudi Arabia)

OECD Organisation for Economic Co-operation and Development (Paris, France)

WB World Bank(Washington DC, United States of America)

WTO World Trade Organisation (Geneva, Switzerland).


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3.Raise standard of living4.To provide confessional (no interest or soft) loans to the worlds poorest

governments

IMF

1.Financing temporary balance of payments needs2.Combating poverty in low-income countries3.Mobilizing external financing4.Strengthening the international monetary system5.Increasing the global supply of international reserves6.Building capacity through technical assistance and training7.Dissemination of information and research

EBRD

1.To promote transition to market economies by investing mainly in the

private sector

2. To mobilize significant foreign direct investment

3. To support privatization, restructuring and better municipal services to

improve peoples lives

4. To encourage environmentally sound and sustainable development


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EIB

1.Cohesion and Convergence2.Support for small and medium-sized enterprises (SMEs)3.Environmental Sustainability4.Implementation of the Innovation 2010 Initiative (i2i)5.Development of Trans-European Networks of transport and energy (TENs)6.Sustainable, competitive and secure energy.

BSTDB

1.To promote regional cooperation among member countries2.Economic development in member states principally by financing operations

in the private and public sectors

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