Recourse targets international financial institutions that hold considerable sway over the global financial system. This includes multilateral development banks, regional and national development banks, the IMF, and multilateral fora including the UN climate convention, the G20, and the Financing for Development conference. Click below to read more about each institution and Recourse’s work towards it.
The World Bank was set up in 1944, to govern the post-war international monetary order. It has since become a powerful institution in setting the official international development agenda.
The International Finance Corporation (IFC) is the private sector arm of the World Bank Group – lending to private clients such as companies, banks and private equity funds.
The Asian Infrastructure Investment Bank (AIIB) was initiated by China and officially launched in 2016, as a multilateral development bank focused on Asia.
Alongside the World Bank, the International Monetary Fund (IMF or ‘the Fund’) was founded in 1944 as part of the efforts to rebuild following the Second World War.
The Asian Development Bank (ADB) was established in 1966. It is a regional development bank, which “envisions a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty in the region.
The African Development Bank Group has a mandate to “contribute to the sustainable economic development and social progress of its regional members individually and jointly”.
Recourse’s work also covers a broader range of Development Finance Institutions (DFIs), including the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) and bilateral DFIs.
The Multilateral Investment Guarantee Agency (MIGA) is the insurance arm of the World Bank Group – providing guarantees to investors and lenders across borders.
