To develop free markets which would have a minimum of government intervention and whose

Governments would be freely elected on a multi-party basis. Fifty-nine countries and institutions

Are members of the Bank, including the European Union and the European Investment Bank. The

European Union, including EU institutions, holds 59.8 per cent of the Bank’s voting rights, of

Which France, Germany, Italy and the UK hold 8.97 per cent each. Japan holds 9.0 per cent, the

USA 8.3 per cent, the Russian Federation 4.2 per cent and Canada 3.6 per cent. In 1996 the shareholders

agreed to double the Bank’s total capital ECU 20 billion but the increase was to be spread

Over the years from 1998 to 2010. The Bank is authorized to lend up to 60 per cent of its funds,

Overall and to any individual country, for private sector projects and 40 per cent for public projects.

It may lend at market rates of interest or invest in equities. The Bank is located in London, UK.

D) The Inter-American Development Bank (IADB). The Bank was established in 1959 to give

Financial assistance for the encouragement of economic and social development to the developing

Countries of Latin America and the Caribbean. The head office is in Washington. Membership now

Covers twenty-eight countries in Latin America and the Caribbean and eighteen countries in Europe,

As well as the United States, Canada, Israel, and Japan. In 1994 the authorized capital of the

Bank was increased to $101 billion.