FAQs
A multilateral development bank (MDB) is an international financial institution chartered by two or more countries for the purpose of encouraging economic development in poorer nations. Multilateral development banks consist of member nations from developed and developing countries.
Is the IMF an MDB? ›
Examples of MDBs
The following are well-known Bretton Woods institutions: World Bank. International Monetary Fund (IMF) International Bank for Reconstruction and Development (IBRD)
Is AFDB a multilateral development bank? ›
The African Development Bank has received the Development Finance Institution (DFI) of the year award at the TXF GLOBAL 2024 Export, Project & Development Finance Conference, for being at the forefront of multilateral development bank (MDB) innovation. The Bank was recognized for its first...
Does the US have a development bank? ›
The IDB Group comprises the Inter-American Development Bank; IDB Invest, which works with the region's private sector; and IDB Lab, which experiments with innovative ways to spur more inclusive growth.
What is the biggest multilateral financial institution in the world? ›
The European Investment Bank (EIB) is the European Union's investment bank and is owned by the 27 member states. It is the largest multilateral financial institution in the world.
Is the World Bank an MDB? ›
The Department of Treasury leads the Administration's engagement in the multilateral development banks (MDBs), which include the World Bank, Inter-American Development Bank, Asian Development Bank, the African Development Bank, and the European Bank for Reconstruction and Development.
What 7 countries aren t part of the IMF? ›
The countries that are not a part of the IMF are Cuba, North Korea, Monaco, Taiwan, Vatican City, and East Timor Liechtenstein.
Who controls the IMF and World Bank? ›
Member countries govern the World Bank Group through the Boards of Governors and the Boards of Executive Directors. These bodies make all major decisions for the organizations. To become a member of the Bank, under the IBRD Articles of Agreement, a country must first join the International Monetary Fund (IMF).
Is aiib an mdb? ›
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is financing the Infrastructure for Tomorrow—infrastructure with sustainability at its core. We began operations in Beijing in January 2016 and have since grown to 109 approved members worldwide.
Is World Bank bilateral or multilateral? ›
To achieve this, we will work with all clients as one World Bank Group, in close partnership with other multilateral institutions, the private sector, and civil society.
In fact, on account of the volume of its borrowing and lending, the EIB is sometimes described as the largest multilateral development bank (MDB). As the financing institution of the European Union, we focus the bulk of our activity on projects that promote balanced development and integration within the EU.
