2.  Sanket Wajge : Co-ordination, Preparation of Final Document & PPT  Rajendra Kelkar : Introductory Info, Assistance in preparing Final document  Rahul Kumar : PPT preparation, Data collection  Ameya Desai : Data collection [IBRD]  Atul Pathrabe : Data collection [IDA]  Kunal Patel : Data collection [MIGA]  Vaibhav Alone : Data collection [ICSID]  Pramod Kamble : Data collection [IMF]  Suchit Kurry: Data collection [Critics of IMF & WB]

3.  The assistance is provided by one country to another for the purpose of bridging the gap between rich and poor countries, is termed as ODA (Official Development Assistance).  What are Multilateral Financial Institutions?

4.  International Finance Corporation (IFC)  International Bank for Reconstruction and Development (IBRD)  International Development Association (IDA)  Multilateral Investment Guarantee Agency (MIGA)  International Centre for Settlement of Investment Disputes (ICSID)

5.  Background: The IFC was established in 1956 to assist the economic development of less developed countries  Member Countries: 153  Purpose: IFC backs loans for private sector investment in member countries  Sources of Funds: Its money comes from capital subscription of its members  Function: IFC's investment are in manufacturing followed by mining, energy, tourism and public utilities.

6.  Background: All IBRD loans are guaranteed by creditor governments, through appropriations decided by their individual governments.  Founded in 1944  Member Countries: 176  Purpose: It lends money to help to reduce poverty and to finance investments that contribute to economic growth  Sources of Funds: Most IBRD funds come directly from bond sales.  Functions: It lends money at near-market rates to developing countries.  It includes various developmental projects like Nathpa Jhakri Project, National Dairy Project, etc

7.  Background: Founded in 1960 IDA finances larger % of total project than a bank  Member Countries: 150  Purpose: Concessional loans to poor countries.  Sources of Funds: IBRD’s income, contribution from the rich countries govts  Function: Gives 90% loans to poorer countries in the field of agriculture and rural development.

8.  Background: Founded in 1988  Member Countries: 101  Purpose: To encourage the flow of private foreign investment to the developing countries  Sources of Funds: IBRD backup for guarantees issued, Its own Capital base  Function: MIGA also offers investors guarantees against non- commercial risks, advises developing member governments on the design and implementation of policies, programs and procedures related to foreign investments

9.  Background: Opened in 1965 is a multilateral treaty formulated by the Executive Directors of the International Bank for Reconstruction and Development (the World Bank).  Member States: 155 signatory States  Purpose: ICSID was created by the Convention as an impartial international forum providing facilities for the resolution of legal disputes between eligible parties, through conciliation or arbitration procedures.  Sources of Funds:  Function: ICSID provides the basic procedural framework for conciliation and arbitration of investment disputes arising between member countries and investors that qualify as nationals of other member countries.

10.  What is IMF ? It is an organization of 185 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.  Functions of IMF:  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 fight poverty in developing countries and  Technical assistance and training to help countries improve the management of their economies

11. Though, they are different institutions, there are several reasons to believe that they are inseparable twins:  Membership in IMF is a prerequisite for membership in WB  Annual meetings of IMF and WB are held jointly  Their governing structures are similar. In fact there are some overlapping in membership of the executive board  These two institutions share the same perception and paradigm of development.

12.  Conditionalities imposed on borrower countries  The ethical issues related to the development projects funded by IBRD & IDA  World Bank and IMF governance structures are dominated by industrialized countries.  developing countries hold little voting power