| INTERNATIONAL
BANK FOR RECONSTRUCTION/
DEVELOPMENT |
INTERNATIONAL
DEVELOPMENT ASSOCIATION
IDA |
INTERNATIONAL
FINANCE CORPORATION
IFC |
MULTILATERAL INVESTMENT GUARANTEE AGENCY-MIGA |
| IBRD - Countries have to be a member of the IMF in order to join the IBRD. "Obtains its financing from medium-long- term borrowings in the capital markets of Japan, U.S. and Europe as well as central banks and other government institutions. Its purpose is to promote economic and social progress in developing nations, the same as IDA." | "Purpose is to promote economic and social progress in developing nations by helping raise their productivity. The country has to have a per capita GNP of less than $865. Loans are at a lower interest rate than IBRD." | Established in 1956, its purpose
is to assist the economic development of developing countries by promoting
growth in their countries. This is done through:
"development of capital markets, the promotion of private sector infrastructure, privatization, the exploration of new markets for investment finance and advisory services and the direct mobilization of funds." IFC has: -- DRIVEN GLOBALIZATION -- Originator of "country" funds like Korea Fund -- Work with 150 country funds -- Invests up to 25% of capital in new companies --Leveraged $19B or 2,000 companies in 125 countries. |
MIGA has 134 members and was established
in 1988. It has as its principal responsibility the promotion of investment
for economic development in member countries through guarantees to foreign
investors against losses caused by non-
commercial risks...to encourage the flow of capital. In 1996, MIGA issued 68 contracts for $862 million covering $2.3B. Guarantees have been issued to Kuwait, Kyrgyz Republic, Mali, Nepal, Papua New Guinea. |
| Human Resources Development | Environmentally Sustainable Development |
| Several areas:
(a) Poverty-reduction activities - 43% of total IDA directly targeted to the poor to increase productivity (b) Population, health and nutrition - Produced 2 reports for Cairo (c) Education - Invested $21.5B through 500 projects in 100 countries (d) Participatory Development - with NGO's. 41% projected approved by bank involved NGO's |
Established in 1993 -
Development could be achieved and sustained only through the integration of economic, social, technical and ecological dimensions. Working on natural resources and ecosystem management, food security, urbanization and infrastructure. --THE GLOBAL ENVIRONMENT FACILITY (GEF) This is a financial mechanism that provides funds to developing countries for projects/activities to protect the global environment: climate change, biological diversity, international waters and depletion of ozone. The GEF has its own structure. |
| Environment Development Institute | International Centre for Settlement Investment Disputes |
| Through the Environment and Natural
Resources Division,
works to advance sustainable development a) Water Policy Reform - Two programs b) Agriculture and Forestry - The global process of structural adjustment, reform and transition in addition to the changing role of the state as a result of privatization. c) Urban and Industrial Management - Urban Management/ Industrial Pollution Management d) Social Issues - Social fund promotes decentralization e) Mainstreaming the Environment - Promotes understanding of parliamentarians, journalists/NGO/s bet. economic and the environment. - Biodiversity conservation. |
This was established under the
Convention of the Settlement of Investment Disputes between States and
Nationals of Other States in 1965. ICSID seeks to encourage greater flows
of international investment by providing facilities for the conciliation
and arbitration of disputes between governments and foreign investors.
ICSID publishes a semiannual international investment law journal. |
"Third, I said we would build stronger partnerships.
...We have expanded our links with the United Nations and its agencies, the World Trade rganization, and the European Union. We have forged new relationships with the major foundations and with NGOs--both international and local. We are building partnerhps on gender issues, the enviroment, the social impact of economic reforms of the priv ate sector--and other prioritiey areas.
Fourth: The Bank is working with governments to help them improve the policies and legal, tax and judicial systems that are crucial for encouraging investment. IFC leveraged more than $19B in support of projects worldwide. MIGA -- Its guarantees have catalyzed foreign direct investments now totaling an estimated $15B and its on-line marketing and information service - the IPAnet.
17. We have established a Private Sector Development Group, to pull together the catalytic strengths of our 3 institutions.
Fifth: In Bosnia-Herzegovina, 14 projects are being implemented with Bank Group financilng over $325 million.
NEW COMPACT:
28. In 1995, private flows to developing countries exceeded $170B, 3 times official flow or 4 times what they were 5 years ago. 75% of these flows went to 12 countries. About 50 countries--most of them very poor received virtually no private inflows.
30. Strong financial systems are key. But there are pervasive problems with prudential regulations and their enforcment. About oe in five developing countries faces a banking crisis. Unproductive public expenditures and uncollected taxes are a further hug drag on these eocnomies. That is why the Bank Group--working with the IMF--is strengthening our capacity to help our clinets strenghten their financikal sectors, and reform their expenditure programs.
B. New Paradigm
37. Reducing poverty clearly invovles the interplay of
a number of issues: macroeconmoic policy, private sector developmet, environmental
sustainability, and investments in human capital--especially girs' educaiton
and early childheed development.