The Inter-American Development Bank is an international financial institution headquartered in Washington, D.C., United States of America, and serving as the largest source of development financing for Latin America and the Caribbean. Established in 1959, the IDB supports Latin American and Caribbean economic development, social development and regional integration by lending to governments and government agencies, including State corporations.
Official development assistance (ODA) is a category used by the Development Assistance Committee (DAC) of the Organisation for Economic Co-operation and Development (OECD) to measure foreign aid. The DAC first adopted the concept in 1969. It is widely used as an indicator of international aid flow. It refers to material resources given by the governments of richer countries to promote the economic development of poorer countries and the welfare of their people. The donor government agency may disburse such resources to the government of the recipient country or through other organizations. Most ODA is in the form of grants, but some is measured as the concessional value in soft (low-interest) loans.
The Multilateral Investment Guarantee Agency (MIGA) is an international financial institution which offers political risk insurance and credit enhancement guarantees. These guarantees help investors protect foreign direct investments against political and non-commercial risks in developing countries. MIGA is a member of the World Bank Group and is headquartered in Washington, D.C. in the United States.
Matia Kasaija is a Ugandan politician. He is the current Minister of Finance in Uganda's Cabinet. He was appointed to that position on 1 March 2015, replacing Maria Kiwanuka, who was appointed to Senior Presidential Advisor for Finance. From 27 May 2011 until 28 February 2015, he served as the State Minister for Finance (Planning) in the Cabinet of Uganda. He replaced Ephraim Kamuntu, who was promoted to Minister of Tourism. Before that, he served as the State Minister for Internal Affairs, from 1 June 2006 until May 2011. He is also the elected Member of Parliament for "Buyanja County", Kibaale District.
Elisabeth Maria Josepha "Lilianne" Ploumen is a Dutch politician and activist who served as Leader of the Labour Party from January 2021 until April 2022. She had been a member of the House of Representatives since 2017, as well as parliamentary leader since 2021, leaving the House of Representatives upon her resignation as party leader. Ploumen previously served as Minister for Foreign Trade and Development Cooperation from 2012 to 2017.
Carl-Hermann Gustav "Calle" Schlettwein is a Namibian politician who has served in the country's cabinet since 2012. In March 2020, he was appointed the Minister of Agriculture, Water and Land Reform after serving as the Minister of Finance from 2015 to 2020 and previously as the Minister of Trade and Industry from 2012 to 2015.
Fernando Medina Maciel Almeida Correia is a Portuguese economist and politician Socialist Party (PS) who has been serving as Minister of Finance in the government of Prime Minister António Costa since 2022. He previously served as Mayor of Lisbon from 2015, succeeding Costa, to 2021.
Sri Lanka has been involved with the World Bank since its initial entrance into the International Bank for Reconstruction and Development (IBRD) on August 29, 1950. Currently, Sri Lanka's quota in the IBERT is approximately 515.4 million dollars, thus allotting 5,846 votes or 0.25% of the total votes in the institution. Sri Lanka later became a member of the other institutions in the world bank such as the International Finance Corporation (IFC) on July 20, 1956, with a current quota of 7.491 million dollars, allotting 8,311 votes or 0.32% of the total votes; the International Development Association (IDA) on June 27, 1961, with a current share of 98,100 votes or 0.36% within the institution; the International Center for Settlement of Investment Disputes (ICSID) on November 11, 1967; and the Multilateral Investment Guarantee Agency (MIGA) on May 27, 1988, with a current quota of 4.78 million SDR. Sri Lanka is currently in the India-led constituency for these organizations, representing the country as part of the South Asian block.
The World Bank Group country partnership framework aims to support Haiti's efforts to reduce poverty and provide economic opportunities for all Haitians. The framework aims to strengthen institutions, government capacity, and public financial management as aid and concessional financing rapidly decline.
The African Trade Insurance Agency, also known as ATI, was established in 2001 by seven COMESA countries and with the technical and financial backing of The World Bank to provide insurance against political and commercial risks in order to attract foreign direct investments (FDI) into the region. ATI is Africa's only multilateral investment and credit insurer and as of 31 December 2019 it had supported trade and investments into Africa valued at over US$62 billion since inception and for H1 2020, ATI recorded US$6.5 billion in Gross Exposures and US$390.8 million in equity.
Vietnam joined the World Bank Group (WBG) on 21 September 1956. Before the mid-1980s, Vietnam was one of the world's least developed countries. A series of economic and political reforms launched in 1986, known as Đổi Mới, caused Vietnam to experience rapid economic growth and development, becoming a lower middle-income country. The World Bank (WB) has maintained a development partnership with Vietnam since 1993. As of 25 March 2019, it has committed a total of US$24 billion in loans, credits, and grants to Vietnam through 165 operations and projects, 44 of which are active as of 2019 and comprise US$9 billion. With an estimated extreme poverty rate below 3% and a GDP growth rate of 7.1% in 2018, Vietnam's economy continues to show fundamental strength and is supported by robust domestic demand and export-oriented manufacturing.
After separating from the World Bank and other International Financial Institutions for decades due to pressure from the Soviet Union, Poland rejoined the World Bank on June 27, 1986. The World Bank was instrumental in financing and providing technical assistance for Poland as it transitioned from a Command Economy into a Market-Oriented Economy. As a middle income country, Poland has worked primarily with the International Bank for Reconstruction and Development since it is not eligible for loans from the International Development Association. Additionally, Poland has had a few projects with the Multilateral Investment Guarantee Agency and the International Finance Corporation. Currently, most of Poland's engagements with the World Bank Group concern environmental concerns and public finances.
The World Bank Group, composed of five institutions, works together with the Panamanian government to reduce poverty and increase prosperity. Panama first became a member of the World Bank Group on March 14, 1946. In the past decade, Panama's annual growth has increased by 7.2% in the span of 12 years, making it one of the fastest growing economies in the world. In 2019, Panama was ranked the second fastest growing economy in Latin America by the World Bank. As of 2019, Panama has $435.59 million US dollars being distributed amongst seven projects, all geared toward their overall goal of poverty reduction and indigenous inclusion. Continuing with their efforts to reduce extreme poverty, the World Bank along with efforts of the Panamanian government has reduced poverty from 39.9% to 26.2% while extreme poverty has been reduced by an estimated 15.6% to 11.3% from 2014 to 2019. As of late 2019, there is an estimated $213.26 million US dollars of undisbursed loans.
South Korea first joined the World Bank Group as a member in 1955. Over the years, South Korea manages to develop its economy in a successful and positive manner. The country now is a financial contributor to the World Bank to help other, rather than an aid recipient in the old days. Under the help and cooperation with the World Bank, South Korea became a rapid growth country in economy begin in the 1970s, and it now became a large shareholder of the institution to help out other developing countries.
Uganda joined the World Bank on September 27, 1963, along with the IBRD, IDA and IFC. It later joined the ICSID on October 14, 1966, and the MIGA on June 10, 1992. Uganda also holds the chair for the 22 nation Africa Group 1 Constituency, headed by Anne Kabagambe. Uganda holds 0.07% of the vote in the IBRD while its constituency holds 1.92%. In the IFC, Uganda holds 0.05% of the vote while its constituency holds 1.31%. Uganda in the IDA holds 0.18% of the vote, while the Africa Group 1 Constituency commands 4%. In the MIGA, meanwhile, Uganda has 0.21% while its constituency holds 3.54% of the vote.
Jamaica first joined The World Bank Group (WBG) on the 21st of February, 1963, when the island nation became a member of The International Bank for Reconstruction and Development (IBRD), which lends to middle and low income nations. This occurred the same month as Jamaica joining the International Monetary Fund (IMF), and one year after declaring political independence. Since joining The World Bank, Jamaica has received in excess of $3 billion US Dollars in loans and grants. Jamaican Minister of Finance, Donald Sangster, led the Jamaican delegations to World Bank and International monetary Fund meetings between 1963 and 1966, while also serving as Governor of the World Bank and IMF. Sangster would go on to serve briefly as the Prime Minister of Jamaica.
Japan joined the World Bank Group in August 1952. Loans that were taken out by Japan focused on improving infrastructure, having electrical power generation, improving water, establishing basic industry development and improving transportation. Japan now is the second-largest creditor to the World Bank, and in 1970 established an office in Tokyo.
Mali joined the World Bank Group in 1963 after they gained their independence from France in 1960. They are a low-income country with 41.3% of their population living under the poverty line in 2019. Additionally, Mali is a landlocked country whose economy is vulnerable to changes in climate. Thus, Mali has relationships with the International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Finance Corporations (IFC), and the Multilateral Investment Guarantee Agency (MIGA). In 2019, the IBRD and IDA committed to lending 500 million US dollars to projects in Mali, a large jump from 2018, where only US$178 million was lent. The bank group is currently involved in 30 projects in the region.These projects focused on areas such as mining, cotton, climate change, good governance, and health. Since 2013, the World Bank Group has worked alongside their UN mission counterpart, MINUSMA to create stability and growth in the region. The current World Bank Country Director for Mali is Soukeyna Kane.
Ireland joined the World Bank on August 8, 1957, and has continued to be a member since then. A majority of the money loaned to Ireland from the World Bank was put towards infrastructure projects, such as power and education. Ireland was able to pay back these loans in the predetermined time frames with little to no issue.
Peggy Onkutlwile Serame is a Motswana politician who has been serving as Minister of Finance in the government of President Mokgweetsi Masisi since April 2021.
