The International Finance Corporation (IFC) was formed in July 1956 as an affiliate of the World Bank to assist enterprises, which will contribute to the economic development of developing member countries, and to promote growth of productive investment. The International Finance Corporation (IFC) began with 31 member countries and an authorized capital of $100 million. […]
filed under: Multilateral Institutions
International Development Association (IDA)
The International Development Association (IDA) was formed in 1960, as an affiliate of the World Bank, to promote economic development of underdeveloped areas of the world and it duties is to supplement the activities of the World Bank. The staff of World Bank manages International Development Association (IDA) but they are two separate entities with […]
Multilateral Investment Guarantee Agency (MIGA)
The Multilateral Investment Guarantee Agency (MIGA) was established in 1985 through a convention and it became operational in April 1988. MIGA was primarily set up to encourage equity investment and other direct investment flows to member countries and with particular attention to the developing countries through the mitigation of non-commercial investment barriers. Membership of MIGA […]
Bank for international Settlements (BIS)
The Bank for international Settlements (BIS) was established in 1930 with Italy, Belgium, Germany, Britain and France as the founding members. Bank for International settlements (BIS) has its headquarters in Basle, Switzerland. It started operations on May 17, 1930 and one of the oldest international financial institutions. Since its inception, Bank for International Settlements (BIS) […]
Economic Community of West African States (ECOWAS)
The Economic Community of West African States (ECOWAS) is an example of economic integration, which was formally, founded on 28 May 1975 with Nigeria under the administration of Yakubu Gowon and Togo under the administration of late Gnassing Eyadema playing leading roles. The administrative headquarters of the community is in Abuja Nigeria while the fund […]
Economic Commission for Africa (ECA)
The Economic Commission for Africa (ECA) was formed in April 1958 following the implementation of a resolution of the United Nations. The organization has fifty-two members, Nigeria inclusive. While the Economic Commission for Africa (ECA) functions as a subcommittee of the United Nation Organization (UNO), it main function and duty centre on economic matters having […]