International financial institution

IMFInternational Monetary Fund

Overview

The IMF works to foster, Global growth and economic

stability. Provides policy advice and financing

to members in economic difficulties. Works with developing nations to

help them achieve macroeconomic stability.

Reduce poverty.

Fast Facts on the IMF

Membership: 188 countries Headquarters: Washington, D.C. Executive Board: 24 Directors

representing countries or groups of countries

Staff: Approximately 2,503 from 144 countries

Total quotas: US$360 billion (as of 3/14/13)

The IMF came into formal existence in December 1945, when its first 29 member countries signed its Articles of Agreement.

It began operations on March 1, 1947. Later that year, France became the first country to borrow from the IMF.

Original aims

Promoting international monetary cooperation.

Facilitating the expansion and balanced growth of international trade.

Promoting exchange stability. Assisting in the establishment of a

multilateral system of payments. Making resources available (with adequate

safeguards) to members experiencing balance of payments difficulties.

Key IMF activities

Policy advice to governments and central banks based on analysis of economic trends and cross-country experiences.

Research, statistics, forecasts, and analysis based on tracking of global, regional, and individual economies and markets.

Loans to help countries overcome economic difficulties.

Concessional loans to help fight poverty in developing countries.

Technical assistance and training to help countries improve the management of their economies.

World Bank

It provides loans to developing countries for capital programs.

The World Bank's official goal is the reduction of poverty.

According to its Articles of Agreement (as amended effective 16 February 1989), all its decisions must be guided by a commitment to the promotion of foreign investment and international trade and to the facilitation of capital investment.

Fast Facts on the World Bank

Motto: Working for a World Free of Poverty.

Membership: 188 countries (IBRD) 172 countries (IDA) Headquarters: Washington, D.C. President: Jim Yong Kim. Purpose/ focus: Crediting.

The World Bank was created at the 1944 Bretton Woods Conference, along with three other institutions, including the International Monetary Fund (IMF).

The World Bank and the IMF are both based in Washington DC, and work closely with each other.

World Bank comprises two institutions: 1. International

Bank for Reconstruction and Development (IBRD)

2. International Development Association (IDA).

International Development Association

Formation:1960 Type :Development

finance institution Headquarters :Washington, D.C. Membership:172 countries President of the World Bank:

Jim Yong Kim Parent organization: World Bank

Group

Offers concessional loans and grants to the world's poorest developing countries.

IDA is the single largest provider of funds to economic and human development projects in the world's poorest nations.

Work Done

From 2000 to 2010, It financed projects which recruited and trained 3

million teachers, immunized 310 million children, funded $792 million in loans to 120,000 small and medium enterprises,.

Built or restored of 118,000 kilometers of paved roads, built or restored 1,600 bridges.

Expanded access to improved water to 113 million people and improved sanitation facilities to 5.8 million people.

The IDA has issued a total $238 billion USD in loans and grants since its launch in 1960.

International Bank for Reconstruction and Development

Formation:1944 Type :

Development finance institution Headquarters :Washington, D.C. Membership:188 countries President of the World Bank:

Jim Yong Kim Parent organization:

World Bank Group

Offers loans to middle-income developing countries.

It was established in 1944 with the mission of financing the reconstruction of European nations devastated by World War II.

The IBRD provides concessional financing to sovereign states to fund projects that seek to,

Improve transportation and infrastructure, Education Domestic policy Environmental consciousness Energy investments Healthcare Access to food and potable water Access to improved sanitation.

The Bank offers , A number of financial services and products, including flexible loans, grants, risk guarantees, financial derivatives, and catastrophic risk financing.

It reported lending commitments of $26.7 billion made to 132 projects in 2011

World Bank Group V/S World Bank

The World Bank should not be confused with the World Bank Group, which comprises

The World Bank The International Finance Corporation (IFC) The Multilateral Investment Guarantee

Agency (MIGA) The International Centre for Settlement of

Investment Disputes (ICSID)

International Finance Corporation (IFC),

It is the largest global development institution focused exclusively on the private sector.

It helps developing countries to achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments.

The Multilateral Investment Guarantee Agency (MIGA)

It was created in 1988 to promote foreign direct investment into developing countries to support economic growth, reduce poverty, and improve people’s lives.

MIGA fulfills this mandate by offering political risk insurance (guarantees) to investors and lenders.

International Centre for Settlement of Investment Disputes (ICSID)

It provides international facilities for conciliation and arbitration of investment disputes.

Collectively, the World Bank Group is,

The world’s largest funder of education The world’s largest external funder of the

fight against HIV/AIDS A leader in the fight against corruption

worldwide A strong supporter of debt relief The largest international financier of

biodiversity projects The largest international financier of water

supply and sanitation projects

Help Yourself

http://www.worldbank.org/ http://

en.wikipedia.org/wiki/International_Bank_for_Reconstruction_and_Development

http://en.wikipedia.org/wiki/International_Development_Association