Regional Development Banks

Upstart and objectives

Contrary to the European financial institutions the regional Development Banks in Africa, Asia and America were established by the region’s countries concerned in order to promote the economic and social development of their Member States.

Subsequently they have opened up their capital to industrialized countries not being part of the region. In the nineties their mission has been expanded to promoting the private sector, combating poverty and dealing with environmental issues.

They have a concessional affiliate, which provides financing on soft conditions to countries for which the ordinary resources from capital are too expensive.

These institutions are managed by a Board of Governors, a President elected to a five-year term and a Board of Directors.

Role of IEFA

The IEFA Administration is the official communication channel between the Regional Development Banks and the Belgian authorities.
It:

  • follows up the policy and the strategies of the institution and gives instructions on these matters to the manager who represents the said Administration;

  • prepares for the Minister of Finance the files which are submitted to the Governors;

  • participates actively in the annual meetings of the Governors, in the meetings on the replenishment of the resources and in meetings on specific subjects such as the debt relief initiatives;

  • participates in all the meetings which concern the institution and where regional subjects are discussed which may affect the institution’s activities.

Capital

- African Development Bank (AfDB) :
  23,95 billion SDR(*)
  Belgian share = 0,641%

  Concessional component:
  African Development Fund (AfDF):
  15 billion SDR.
  Belgian share = 1,55%

- European Bank for Reconstruction and Development (EBRD):
  30 billion EUR.
  Belgian share = 2,28%

- Asian Development Bank (ADB): 54,2 billion USD.
  Belgian share = 0,34%

  Concessional component:
  Asian Development Fund (ADF): 26,16 billion USD.
  Belgian share = 0,75%

- Inter-American Development Bank (IDB): 101 billion USD.
  Belgian share = 0,329%

  Concessional component:
  Fund for Special Operations (FSO): 9,8 billion USD.
  Belgian share = 0,463%

  Private Sector Affiliate:
  Inter-American Investment Corporation (IIC): 700 millions USD.
  Belgian share = 0,24%

(*) The Special Drawing Right (SDR) is the unit of account which is used as reference for the transactions of the IMF and other international financial institutions.