A multilateral development bank (MDB) is an institution, created by a group of countries, that provides financing and professional advising for the purpose of development. MDBs have large memberships including both developed donor countries and developing borrower countries. MDBs finance projects in the form of long-term loans at market rates, very-long term loans (also known as credits) below market rates, and through grants.

The following are usually classified as the main MDBs:

• World Bank
• African Development Bank
• Asian Development Bank
• European Bank for Reconstruction and Development
• Inter-American Development Bank Group

There are also several "Sub-Regional" Multilateral Development Banks. Their membership typically includes only borrowing nations. The banks borrow from and lend to their members. These banks include:

• Corporación Andina de Fomento (CAF)
• Caribbean Development Bank (CDB)
• Central American Bank for Economic Integration (CABEI)
• East African Development Bank (EADB)
• West African Development Bank (BOAD)
• Black Sea Trade and Development Bank (BSTDB)

There are also several Multilateral Financial Institutions (MFIs). MFI's are similar to MDBs but they are sometimes separated since they have more limited memberships and often focus on financing certain types of projects.

• European Commission (EC)
• European Investment Bank (EIB)
• International Fund for Agricultural Development (IFAD)
• Islamic Development Bank (IDB)
• Nordic Investment Bank (NIB)
• OPEC Fund for International Development (OPEC Fund)
• Nederlandse Financieringsmaatschappij voor Ontwikkelingslanden NV (FMO)

[edit] References

• Bank Information Center
• World Bank page describing MDBs

[edit] See also

• Climate Investment Funds
• International financial institution