International financial institutions (IFIs) are financial institutions that have been established (or chartered) by more than one country, and hence are subjects of international law. Their owners or shareholders are generally national governments, although other international institutions and other organisations occasionally figure as shareholders. The most prominent IFIs are creations of multiple nations, although some bilateral financial institutions (created by two countries) exist and are technically IFIs. Many of these are multilateral development banks.
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The best-known IFIs were established after World War II to assist in the reconstruction of Europe and provide mechanisms for international cooperation in managing the global financial system (Cf. Bretton Woods system). They include the World Bank, the IMF, and the International Finance Corporation.
The regional development banks consist of several regional institutions that have functions similar to the World Bank group's activities, but with particular focus on a specific region. Shareholders usually consist of the regional countries plus the major donor countries. The best-known of these regional banks cover regions that roughly correspond to United Nations regional groupings, including the Inter-American Development Bank, the Asian Development Bank; the African Development Bank; and the European Bank for Reconstruction and Development.
Bilateral development banks are financial institutions set up by individual countries to finance development projects in developing countries and emerging markets. Examples include:
Several regional groupings of countries have established international financial institutions to finance various projects or activities in areas of mutual interest. The largest and most important of these is the European Investment Bank.
| Founded | Name | www Address | Notes | HQ |
|---|---|---|---|---|
| 1998 | ECB European Central Bank | http://www.ecb.int | Frankfurt am Main | |
| 17/5/1930 | BRI Banque des règlements internationaux / BIS Bank of International Settlements | http://www.bis.org | The bank of central banks | Bâle |
| Central African Central Banks Association, Association des Banques Centrales Africaines (ABCA) | ||||
| EIB European Investment Bank | http://www.eib.org | Institution created by the members of the European Union, to finance projects in the EU | Luxembourg | |
| 24/1/97 | BSTDB Black Sea Trade and Development Bank | http://bstdb.com | Governed by United Nations registered treaty - Region covered corresponds to the Organization of the Black Sea Economic Cooperation | |
| 10/7/70 | International Investment Bank of Comecon | established by the countries of the former Soviet Union and Eastern Europe[3] | Moscow | |
| 1975 | Islamic Development Bank | Djeddah, Saudi Arabia | ||
| NIB Nordic Investment Bank[4] | http://www.nib.int | The NIB has lending operations in its member countries and in emerging markets on all continents[5]. | Helsinki, Finland |