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IFC shares the primary objective of all Bank Group institutions: to improve the quality of the lives of people in its developing member countries.
finances and provides advice for private sector ventures and projects in developing countries in partnership with private investors and, through its advisory work, helps governments create conditions that stimulate the flow of both domestic and foreign private savings and investment.
promotes economic development by encouraging the growth of productive enterprise and efficient capital markets in its member countries.
established in 1956, includes 174 members
Source of Funds: Member capital, borrowings from capital markets (80%) and IBRD (20%)
encourages the flow of foreign direct investment to its developing member countries.
facilitates investment primarily by providing investment guarantees against noncommercial risks (currency transfer, expropriation, and war, for example).
provides technical assistance to help countries disseminate information on investment opportunities, and to build capacity for investment promotion.
MIGA has its own operating and legal staff and is legally and financially a separate entity from the World Bank, on which it draws, however, for certain services.
established in 1988, has 149 members
Source of Funds: Member capital
International Center for the Settlement on Investment Disputes (ICSID)
provides facilities for the settlement, by conciliation or arbitration, of investment disputes between member countries and nationals of other member countries.
provisions referring to arbitration under the auspices of ICSID are a common feature of international investment contracts, investment laws, and bilateral and multilateral investment treaties.
an autonomous international organization with close links with the World Bank. All of its members are also members of the Bank. Unless a government makes a contrary designation, its Governor for the Bank sits ex officio on ICSID's Administrative Council. Established in 1966, has 131 members.
The expenses of the ICSID Secretariat are financed out of the Bank's budget, although the costs of individual proceedings are borne by the parties involved.
continued reform of the banking sector including the privatization of the Savings Bank and further strengthening of the banking regulation and supervision,
enhancement of the bankruptcy and debt resolution framework,
reform of the nonbank financial sector, including further development of the regulatory and supervisory framework for the insurance sector and the privatization of the Insurance Institute of Albania (INSIG).
The credit (US$15 million) to be released in 2 tranches subject to the Government's achievement of specific benchmarks necessary for the successful implementation of the program:
privatization of the Savings Bank and the INSIG;
strengthening of the regulatory framework for banks and the insurance sector;
strengthening the bankruptcy, secured transactions and debt workout frameworks;
further improvement in the financial sector infrastructure.
Enterprise Restructuring (market adjustment) to support and help accelerate Government's reform effort by:
providing advisory services through the implementing agency, the Ukrainian Center for Enterprise Restructuring and Private Sector Development (UCER) aimed at improving the profitability, productivity, and general operational, financial and managerial efficiency of private and privatized enterprises;
supporting and facilitating development of a highly qualified domestic consulting industry which thoroughly understands the unique local business and political climate in the process of economic development and transition;
To strengthen constituency for reform at the oblast level consisting of entrepreneurs, managers, local academia, consultants and other stakeholders benefiting from enterprise restructuring and market-friendly business environment.
provide, through the management of Turkish Eximbank and by utilizing the Participating Financial Institutions (PFIs), short and medium term working capital and investment finance to private exporting enterprises to assist the Turkish exporting sector.
enable a strategic dialogue and close interaction with the major banks and the Bankers Association in Turkey, through setting up of stricter and upgraded prudential eligibility criteria and banking standards for capital adequacy, foreign exchange exposure, connected and insider lending and risk management systems.
facilitate further efficiency gains and other institutional development of Turk Eximbank itself.