ABSTRACT

Multilateral Development Banks: Issues for the 108th Congress [Updated March 29, 2003]   [open pdf - 109KB]

From the Summary: "The U.S. is a member of five multilateral development banks (MDBs): the World Bank, Inter-American Development Bank (IDB), Asian Development Bank (ADB), African Development Bank (AFDB), and European Bank for Reconstruction and Development (EBRD). It also belongs to two related organizations, the North American Development Bank (NADB) and the International Fund for Agricultural Development (IFAD). [...] In the World Bank and most regional MDBs, the U.S., European Union, and Japan control over half of the vote. U.S. participation in the MDBs is managed by the Treasury Department. Congress has substantial influence over the direction and focus of U.S. policy. [...] The MDBs have taken several initiatives to help middle- and low-income countries deal with their foreign debt problems. The MDBs have traditionally made poverty alleviation their first priority goal, though some critics say they should target more of their aid for direct poverty alleviation programs and for encouraging private sector growth. The IMF and MDBs have also increased substantially their transparency and the amount of information they provide to the public on their operations. Many believe this will make them more effective. Critics say that more data should be available. Some borrowers believe they are being forced to reveal too much. Countries may bar the MDBs from releasing information about themselves."

Report Number:
CRS Report for Congress, IB96008
Author:
Publisher:
Date:
2003-03-29
Copyright:
Public Domain
Retrieved From:
National Council for Science and the Environment http://www.ncseonline.org/
Format:
pdf
Media Type:
application/pdf
URL:
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