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The Multilateral Development Banks

The Multilateral Development Banks. Andrew Rogerson Overseas Development Institute. Scope. Facts about MDB operations Roles, especially of World Bank/IDA Policy trends and issues Choices/ future directions. Differentiated by: 25-plus institutions Size and leverage Region, sub-region

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The Multilateral Development Banks

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  1. The Multilateral Development Banks Andrew Rogerson Overseas Development Institute

  2. Scope • Facts about MDB operations • Roles, especially of World Bank/IDA • Policy trends and issues • Choices/ future directions

  3. Differentiated by: 25-plus institutions Size and leverage Region, sub-region Hard, soft terms Private, public focus Policy, projects Knowledge base United by: Capital market links Shareholder power “Credit Culture” Long Term Contracts Managerial Autonomy Untied Suppliers World Bank/IMF lead A varied landscape

  4. World Bank and Regional Banks • Net “ hard” window lending now …zero • WB flows negative, compensated by RDBs • Soft windows have $6-7b +ve net flow • Rising explicit grants (IDA) • Falling grant element (IMF test) • Rationing rules and performance allocations

  5. Net official financing of developing countries 1990-2003

  6. Some IDA specifics • $23b mobilised 2003-2005 • 40% internally funded • 21% direct grants, including AIDS, conflict • Holds 25% of HIPC debt • PRSP mandatory • Allocations from $10 to $3 per capita • 44% Africa (UN 37, EU 35)

  7. Role of IDA/WB • Largest multilateral in Africa, Asia • Largest single donor in most countries (IDA) • Present in most sectors and budget support • Coordinator of aid (CGs) • With IMF, administers debt relief… • Assists or assesses (?) PRSP process • Fund holder for aid community • Enthusiastic “harmoniser”

  8. Some Policy Issues • Regionals too much in WB image • End-Game for grant expansion? • Proliferation of “global” programs • PRSP: based on needs or resources? • Reforming governance, voting shares.

  9. Choices/Future Directions • Relation with UN and UNDP unstable • Decentralisation and regional banks • Global Public Goods: who anchors? • Conditionality-rhetoric or substance? • Pivotal Role of US and next President • A proven chameleon.. • But “imperial overstretch”..

  10. IBRD: regional composition of commitments from FY2000 to FY2004 Source: World Bank Annual Report 2004

  11. IDA: outstanding development credits and associated charge income Source: World Bank Annual Report 2004

  12. Africa: IBRD and IDA lending by sector (Fiscal, 2004) Source: World Bank Annual Report 2004

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