A guide to multilateral development banks

A guide to multilateral development banks

2018 EDITION

Lars Engen and Annalisa Prizzon

April 2018

Acknowledgements This guide was prepared under the supervision of Mikaela Gavas, Head of Programme Development Strategy and Finance. We would like to thank Rapha?lle Faure, Nilima Gulrajani and Kiyoshi Kodera for their comments on the outline of this report. We would also like to thank colleagues at the African Development Bank, Asian Development Bank, European Bank for Reconstruction and Development, European Investment Bank, Inter-American Development Bank and Black Sea Trade and Development Bank for their comments and feedback on Section 2 of the guide and on the fact sheets. Their comments imply neither endorsement nor validation. The authors are grateful for the generous financial support from the Bill and Melinda Gates Foundation. The views in this guide are those of the authors and do not necessarily reflect those of the funder, the Overseas Development Institute or the multilateral development banks reviewed in this report. The information covered in this guide is based on information collected between July and October 2017. Information on the Asian Infrastructure Investment Bank was last updated as of February 2018.

ODI is the UK's leading independent think tank on international development and humanitarian issues. Overseas Development Institute 203 Blackfriars Road London SE1 8NJ Tel: +44 (0)20 7922 0300 Email: info@ Twitter: @ODIdev



Contents

Section 1 Introduction

7

Financing development: what role for multilateral development banks?

8

Why a topic guide on multilateral development banks?

8

Comparative analysis: 10 dimensions of Section 2 multilateral development bank operations

11

1. The multilateral development bank landscape: global, regional

12

and sub-regional institutions

The establishment of MDBs: an overview

12

The geographical location of MDBs

14

MDB presence at country level

15

2. Mandates

16

3. Governance and membership

17

Shareholders

17

Board composition

21

Borrowing countries: an overview

22

Characteristics of borrowing countries

23

4. Financial and human resources

26

Capital

26

Reserves

27

Income

27

General capital increase

28

Credit ratings

28

Replenishments

29

Human resources

29

5. Financial activities and knowledge products

30

Financial activities

30

Knowledge products

36

6. Financial instruments

37

Instruments offered

37

3

7. Eligibility criteria and graduation policies

38

8. Sector focus and contribution to Sustainable Development Goals

41

Sectoral breakdown of disbursements

41

Global and regional public goods

42

Disbursements that support the SDGs

43

9. Safeguard and procurement policies

45

Main elements of safeguard policies

45

Procurement policies

46

10. Approach to measuring development effectiveness

47

The measurement of development effectiveness

47

Independent evaluation

49

Value for money

49

Transparency and accountability

50

Conclusions: towards an effective multilateral development

51

banking system

Section 3 Multilateral development banks: factsheets

53

Global development banks

54

1. European Investment Bank (EIB)

54

2. International Fund for Agricultural Development (IFAD)

55

3. International Investment Bank (IIB)

56

4. New Development Bank (NDB)

57

5. OPEC Fund for International Development (OFID)

58

6. World Bank Group:

a) International Bank for Reconstruction and Development (IBRD)

59

b) International Development Association (IDA)

60

Regional development banks

61

7. African Development Bank (AfDB)

61

8. Asian Development Bank (AsDB)

62

9. Asian Infrastructure Investment Bank (AIIB)

63

10. European Bank for Reconstruction and Development (EBRD)

64

11. Inter-American Development Bank (IADB)

65

12. Islamic Development Bank (IsDB)

66

4 A guide to multilateral development banks

Sub-regional banks

67

13. Arab Bank for Economic Development in Africa (BADEA)

67

14. Arab Fund for Economic and Social Development (AFESD)

68

15. Black Sea Trade and Development Bank (BSTDB)

69

16. Caribbean Development Bank (CDB)

70

17. Central American Bank for Economic Integration (CABEI)

71

18. Development Bank of the Central African States (BDEAC)

72

19. Development Bank of Latin America (CAF)

73

20. East African Development Bank (EADB)

74

21. Eastern and Southern African Trade and Development Bank (TDB)

75

22. ECO Trade and Development Bank (ETDB)

76

23. ECOWAS Bank for Investment and Development (EBID)

77

24. Eurasian Development Bank (EDB)

78

25. West African Development Bank (BOAD)

79

Section 4 Sources, bibliography, glossary and endnotes

80

Sources

81

Bibliography

87

Glossary

87

Endnotes

89

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