Multilateral Financial Institutions. Sanket Wajge : Co-ordination, Preparation of Final Document & PPT Rajendra Kelkar : Introductory Info, Assistance in preparing Final document Rahul Kumar : PPT preparation, Data collection Ameya Desai : Data collection [IBRD]
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Rajendra Kelkar : Introductory Info, Assistance in preparing Final document
Rahul Kumar : PPT preparation, Data collection
Ameya Desai : Data collection [IBRD]
Atul Pathrabe : Data collection [IDA]
Kunal Patel : Data collection [MIGA]
Vaibhav Alone : Data collection [ICSID]
Pramod Kamble : Data collection [IMF]
Suchit Kurry : Data collection [Critics of IMF & WB]Group Members & contributions
The assistance is provided by one country to another for the purpose of bridging the gap between rich and poor countries, is termed as ODA (Official Development Assistance).
What are Multilateral Financial Institutions?Introduction
Background: The IFC was established in 1956 to assist the economic development of less developed countries
Member Countries: 153
Purpose:IFC backs loans for private sector investment in member countries
Sources of Funds: Its money comes from capital subscription of its members
Function:IFC's investment are in manufacturing followed by mining, energy, tourism and public utilities.INTERNATIONAL FINANCE CORPORATION (IFC)
Background:All IBRD loans are guaranteed by creditor governments, through appropriations decided by their individual governments.
Background:Founded in 1960 IDA finances larger % of total project than a bank
Member Countries: 150
Purpose: Concessional loans to poor countries.
Sources of Funds: IBRD’s income, contribution from the rich countries govts
Function:Gives 90% loans to poorer countries in the field of agriculture and rural development.International development association (IDA)
Member Countries: 101
Purpose: To encourage the flow of private foreign investment to the developing countries
Sources of Funds: IBRD backup for guarantees issued, Its own Capital base
Function:MIGA also offers investors guarantees against non-commercial risks, advises developing member governments on the design and implementation of policies, programs and procedures related to foreign investmentsMultilateral investment guarantee agency (MIGA)
Background:Opened in 1965 is a multilateral treaty formulated by the Executive Directors of the International Bank for Reconstruction and Development (the World Bank).
It is an organization of 185 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
Though, they are different institutions, there are several reasons to believe that they are inseparable twins: