International financial organizations
A.12] International Financial Organizations
AIIB - Asian Infrastructure Investment Bank
Overview
- Established: 2015
- Headquarters: Beijing, China
- Purpose: To finance infrastructure projects in Asia to support sustainable development and regional connectivity.
Key Features
- Membership: 104 member countries as of 2024
- Capital: Over $100 billion
- Focus Areas: Power, transportation, water, and digital infrastructure
- Governance: Member countries have voting rights proportional to their capital contributions
Key Facts (SSC, RRB)
- Established by: China, India, and other Asian countries
- Notable Projects: Belt and Road Initiative (BRI), South China Sea infrastructure
- Difference from World Bank: AIIB focuses on infrastructure, while World Bank supports broader development projects
Table: AIIB vs World Bank
| Feature | AIIB | World Bank |
|---|---|---|
| Focus Area | Infrastructure | Development, poverty reduction |
| Membership | 104 countries | 191 countries |
| Capital | $100 billion+ | $1.1 trillion |
| Voting Power | Proportional to capital | Proportional to capital |
ADB - Asian Development Bank
Overview
- Established: 1966
- Headquarters: Manila, Philippines
- Purpose: To promote economic growth and regional development in Asia and the Pacific
Key Features
- Membership: 68 member countries
- Capital: Over $300 billion
- Focus Areas: Poverty reduction, sustainable development, climate resilience
- Governance: Member countries have voting rights proportional to their capital contributions
Key Facts (SSC, RRB)
- Established by: 23 Asian countries
- Notable Projects: Mekong River Basin Development, South Asian Connectivity
- Difference from World Bank: ADB focuses on Asia-Pacific, while World Bank has a global mandate
Table: ADB vs World Bank
| Feature | ADB | World Bank |
|---|---|---|
| Focus Area | Asia-Pacific | Global |
| Membership | 68 countries | 191 countries |
| Capital | $300 billion+ | $1.1 trillion |
| Voting Power | Proportional to capital | Proportional to capital |
World Bank
Overview
- Established: 1944
- Headquarters: Washington, D.C., USA
- Purpose: To provide loans and grants to developing countries for development projects
Key Features
- Membership: 191 member countries
- Capital: Over $1.1 trillion
- Focus Areas: Poverty reduction, education, health, infrastructure, climate change
- Governance: Voting power is proportional to capital contributions and size of economy
Key Facts (SSC, RRB)
- Established by: Bretton Woods Conference
- Notable Projects: India’s Green Energy Program, Nigeria’s Power Sector Reform
- Difference from IMF: World Bank provides loans for development, while IMF provides short-term financial assistance
Table: World Bank vs IMF
| Feature | World Bank | IMF |
|---|---|---|
| Focus Area | Development, poverty reduction | Economic stability, exchange rates |
| Membership | 191 countries | 190 countries |
| Capital | $1.1 trillion | $1 trillion |
| Voting Power | Proportional to capital | Proportional to capital |
IMF - International Monetary Fund
Overview
- Established: 1945
- Headquarters: Washington, D.C., USA
- Purpose: To promote international monetary cooperation, exchange rate stability, and balanced trade
Key Features
- Membership: 190 member countries
- Capital: $1 trillion
- Focus Areas: Exchange rate stability, economic policy advice, financial assistance
- Governance: Voting power is proportional to capital contributions and size of economy
Key Facts (SSC, RRB)
- Established by: Bretton Woods Conference
- Notable Projects: Stand-By Arrangements (SBA), Extended Fund Facility (EFF)
- Difference from World Bank: IMF provides short-term financial assistance, while World Bank provides long-term development loans
Table: IMF vs World Bank
| Feature | IMF | World Bank |
|---|---|---|
| Focus Area | Economic stability, exchange rates | Development, poverty reduction |
| Membership | 190 countries | 191 countries |
| Capital | $1 trillion | $1.1 trillion |
| Voting Power | Proportional to capital | Proportional to capital |
BETA
