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Purpose of the MDBs

Towards the end of World War II (WWII) the first MDB has been established in Washington D.C. This has been the International Bank for Reconstruction and Development (IBRD) today also known as World Bank. Even today this is the most important MDB. The first task of the IBRD has been to rebuild the war torn countries and to help them in their further development. Many of the most prosperous countries of today have profited from these activities at that time. With the successful reconstruction and development after WWII the priorities of the World Bank have been shifted to the developing countries and later also to the post communist countries. The later established regionally MDBs have always been focused on their developing member countries.

The task is to help economic growth and to fight poverty. The MDBs therefore are development institutions and banks at the same time.

Financing by member countries

The MDBs are owned and financed by its member countries. The MDBS are not active in industrialized developed countries.

The most important MDBs

  • IBRD (International Bank for Reconstruction and Development) also known as World Bank in Washington D.C.
  • IDA (International Development Association) in Washington D.C.
  • IFC (International Finance Corporation) in Washington D.C.
  • MIGA (Multilateral Investment Guarantee Agency) in Washington D.C.
  • IDB (Inter-American Development Bank) in Washington D.C.
  • ADB (Asian Development Bank) in Manila
  • AfDB (African Development Bank) in Abidjan, (at present temporarily in Tunis)
  • EBRD (European Bank for Reconstruction and Development) in London