Institutions

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.

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.

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.