List of International Financial institutions in the World.
List of International Financial institutions in World for Bank and Other Exams
GK is important part of bank and other competitive exam. Not just for exam is is important overall. In this article, we will share with you List of International Financial institutions in World for Bank and Other Exams.
The International Financial institutions are established by more than one country and are therefore subject to international law. The shareholders or owners of these Financial Institutions are generally governments of various countries. The most prominent International Financial institutions were established after the second world war. The reason behind it, was to manage the global financial system with the help of international cooperation as well as the reconstruction of Europe.
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There are different types of International Financial institutions-
- Multilateral Development Banks
- Bretton Woods institutions
- Regional Development Banks
- Bilateral Development Banks and Agencies
- Other regional Financial institutions
MULTILATERAL DEVELOPMENT BANKS
These are the Financial institutions that are responsible for providing professional advice and finances to enhance development. It includes- member countries, developed donor countries and developing borrower countries.
They provide long term loans at market rates, very long term loans below market rates, and grants.
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The prime Multilateral Development Banks are:
- 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
- Inter-American Development Bank Group (IDB, IADB)
- African Development Bank (AFDB)
- New Development Bank (NDB)
- Asian Infrastructure Development Bank (AIIB)
- Arab Petroleum Investment Corporation (APICORP)
- Eastern and Southern African Trade and Development Bank (TDB)
The sub- regional Multilateral Development Banks are:
- Central American Bank for Economic Integration (CABEI)
- Black Sea Trade and Development Bank (BSTDB)
- Economic Cooperation Organization Trade and Development Bank (ETDB)
- North American Development Bank (Nadbank)
- East African Development Bank (EADB)
- West African Development Bank (BOAD)
- Caribbean Development Bank (CDB)
- Eurasian Development Bank (EDB)
The Multilateral Financial institutions can also be considered part of Multilateral Development Banks. The only difference is that Multilateral Financial institutions have Limited membership than Multilateral Development Banks. They are:
- Arab Bank for Economic Development in Africa (BADEA)
- OPEC Fund for International Development (OFID)
- European Commission (EC)
- International Finance Facility for Immunisation (IFFIM)
- International Fund for Agricultural Development (IFAD)
- Nederlandse Financieringsmaatschappij voor Ontwikkelingslanden NV (FMO)
- International Investment Bank (IIB)
- Nordic Investment Bank (NIB)
- International Bank for Economic Co-operation (IBEC)
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BRETTON WOODS INSTITUTIONS:
- International Monetary Fund (IMF),1944
- International Bank for Reconstruction and Development (IBRD), 1944
- International Finance Corporation (IFC), 1956
- International Development Association (IDA), 1960
- International Center for Settlement of Investment Disputes (ICSID), 1966
- Multilateral Investment Guarantee Agency (MIGA), 1988
- General Agreement on Tariffs and Trade (GATT), 1995
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REGIONAL DEVELOPMENT BANKS
These Financial institutions are those institutions which have similar functions as the World bank but they focus on prime specific regions. The Regional Development Banks are:
- Inte-American Development Bank (IDB), 1959
- Central American Bank for Economic Integration (CABEI) 1960
- Islamic Development Bank Group (IsDB), 1973
- Asian Development Bank (ADB), 1966
- Council of Europe Development Bank (CEB), 1956
- Banque Ouest-Africaine de Développement (BOAD), 1973
- Banque de développement des États de l’Afrique centrale (BDEAC), 1975
- African Development Bank (AfDB), 1964
- European Bank for Reconstruction and Development (EBRD), 1991
- Development Bank of Latin America (CAF), 1970
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BILATERAL DEVELOPMENT BANKS AND AGENCIES
They are financial institutions that are set up to finance development projects by one individual country in a developing country and its emerging market. They are:
- Netherlands Development Finance Company.
- DEG German Investment Corporation or Deutsche Investitions
- French Development Agency and Caisse des dépôts
- The CDC Group
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OTHER REGIONAL FINANCIAL INSTITUTIONS
- Bank for International Settlements (BIS), (1930)
- African Association of Central Banks (AACB), Association des Banques Centrales (ABCA), (1965)
- Nordic Investment Bank (NIB), (1976)
- European Central Bank (ECB), (1998)
- European Investment Bank (EIB), (1958)
- South East Asian Central Banks Center (SEACEN), (1982)
- International Investment Bank (IIB), (1970)
- Black Sea Trade and Development Bank (BSTDB), (1997)
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