Multilateral Development Banks:
U.S.
Contributions FY2000-FY2015
Rebecca M. Nelson
Specialist in International Trade and Finance
January 26, 2015
Congressional Research Service
7-5700
www.crs.gov
RS20792
Multilateral Development Banks: U.S. Contributions FY2000-FY2015
Summary
This report shows in tabular form how much the Administration requested and how much
Congress appropriated for U.S. payments to the multilateral development banks (MDBs) since
2000. It also provides a brief description of the MDBs and the ways they fund their operations. It
will be updated periodically as annual appropriation figures are known. The title of this report
will also change annually, as new yearly appropriation figures are added.
For FY2015, Congress appropriated funds for several of the non-concessional lending facilities at
the MDBs. Several of the MDBs are in the process of increasing the size of their nonconcessional lending facilities, a process frequently called a “general capital increase” (GCI).
GCIs are relatively unusual, particularly for so many institutions at the same time. Contributions
to the GCIs are expected to be spread out over a five- to eight-year period, depending on the
institution. For most of the institutions, the funds appropriated in FY2012 were the first annual
payment. In addition to funds for the GCIs, Congress appropriated for FY2015 funds for several
MDB concessional lending facilities and more targeted MDB funds, such as those dedicated to
environmental issues.
For further information about the MDBs, the GCIs, and relevant U.S. policy process, see:
•
Contributions FY2000-FY2015
November 3, 2015
(RS20792)
Jump to Main Text of Report
Summary
This report shows in tabular form how much the Administration requested and how much Congress appropriated for U.S. payments to the multilateral development banks (MDBs) since 2000. It also provides a brief description of the MDBs and the ways they fund their operations. It will be updated periodically as annual appropriation figures are known. The title of this report will also change annually, as new yearly appropriation figures are added.
For FY2015, Congress appropriated funds for several of the non-concessional lending facilities at the MDBs. Several of the MDBs are in the process of increasing the size of their non-concessional lending facilities, a process frequently called a "general capital increase" (GCI). GCIs are relatively unusual, particularly for so many institutions at the same time. Contributions to the GCIs are expected to be spread out over a five- to eight-year period, depending on the institution. For most of the institutions, the funds appropriated in FY2012 were the first annual payment. In addition to funds for the GCIs, Congress appropriated for FY2015 funds for several MDB concessional lending facilities and more targeted MDB funds, such as those dedicated to environmental issues.
For further information about the MDBs, the GCIs, and relevant U.S. policy process, see the following CRS reports:
CRS Report R41170, Multilateral Development Banks: Overview and
Issues for Congress
, by [author name scrubbed];
, by Rebecca M. Nelson;
•
CRS Report R41672, Multilateral Development Banks: General Capital
Increases, by Martin A. Weiss; and
•
Increases, by [author name scrubbed]; and
CRS Report R41537, Multilateral Development Banks: How the United
States Makes and Implements Policy
, by [author name scrubbed] and [author name scrubbed].
, by Rebecca M. Nelson and Martin
A. Weiss.
Congressional Research Service
Multilateral Development Banks: U.S. Contributions FY2000-FY2015
Contents
Congressional Research Service
Multilateral Development Banks: U.S.
Contributions FY2000-FY2015
U.S. Participation in the MDBs
The United States is a member of five multilateral development banks (MDBs): the World Bank,
African Development Bank (AfDB), Asian Development Bank (AsDB), European Bank for
Reconstruction and Development (EBRD), and Inter-American Development Bank (IDB). It also
belongs to two similar organizations, the International Fund for Agricultural Development (IFAD)
and the North American Development Bank (NADBank).
The MDBs and Their Programs
The MDBs have similar programs, though they all differ somewhat in their institutional structure
and emphasis. Each has a president and executive board that manages or supervises all of its
programs and operations. Except for the EBRD, which makes only market-based loans, all the
MDBs make both market-based loans to middle-income developing countries and concessional
loans to the poorest countries. Their loans are made to governments or to organizations having
government repayment guarantees. In each MDB, the same staff prepares both the market-based
and the concessional loans, using the same standards and procedures for both.
11 The main
differences between them are the repayment terms and the countries which qualify for them.
2
2
The MDBs also have specialized facilities which have their own operating staff and management
but report to the bank
’'s president and executive board. The World Bank
’'s International Finance
Corporation (IFC) and the IDB
’'s Inter-American Investment Corporation (IIC) make loans to or
equity investments in private sector firms in developing countries (on commercial terms) without
government repayment guarantees. The AsDB makes similar loans from its market-rate loan
account. The World Bank
’'s Multilateral Investment Guarantee Agency (MIGA) underwrites
private investments in developing countries (on commercial terms) to protect against
noneconomicnon-economic risk. At the IDB, the Multilateral Investment Fund (MIF) helps Latin American
countries institute policy reforms aimed at stimulating domestic and international investment. It
also funds worker retraining and programs for small- and micro-enterprises. The MIF originated
as part of President Bush
’'s 1990 Enterprise for the Americas Initiative (EAI).
The NADBank was created by the North American Free Trade Agreement (NAFTA) to fund
environmental infrastructure projects in the U.S.-Mexico border region. The International Fund
for Agricultural Development (IFAD), created in 1977, focuses on reducing poverty and hunger
in poor countries through agricultural development.
Finally, the World Bank also serves as the trustee for several targeted multilateral development
funds, for which the Administration has requested and Congress has appropriated funds. These
multilateral funds include the Clean Technology Fund (CTF), the Strategic Climate Fund (SCF),
1
The International Development Association (IDA) is the World Bank’s concessional loan affiliate. The Asian
Development Fund (AsDF), African Development Fund (AFDF), and Fund for Special Operations (FSO) are the
comparable programs at the AsDB, AfDB, and IDB, respectively.
2
MDB market-based loans cost a little more than the rate the banks pay to borrow funds commercially. IDA and AFDF
charge about 3/4 of 1% annually. The IDB charges 1% to 4% annually, depending on the project and the borrower.
Most borrowers from the concessional programs have per capita incomes of less (often much less) than $900 annually.
Congressional Research Service
1
Multilateral Development Banks: U.S. Contributions FY2000-FY2015
the Global Environment Facility (GEF), and the Global Agriculture and Food Security Program
(GAFSP).
Funding MDB Assistance Programs
The MDBs
’' concessional aid programs are funded with money donated by their wealthier
member country governments. Periodically, as the stock of uncommitted MDB funds begins to
run low, the major donors negotiate a new funding plan that specifies their new contribution
shares.
Loans from the MDBs
’' market-rate loan facilities are funded with money borrowed in world
capital markets. The IFC and IIC fund their loans and equity investments partly with money
contributed by their members and partly with funds borrowed from commercial capital markets.
The MDBs
’' borrowings are backed by the subscriptions of their member countries. They provide
a small part of their capital subscriptions (3% to 5% of the total for most MDBs) in the form of
paid-in capital. The rest they subscribe as callable capital. Callable capital is a contingent liability,
payable only if an MDB becomes bankrupt and lacks sufficient funds to repay its own creditors.
It cannot be called to provide the banks with additional loan funds.
Countries’
Countries' voting shares are determined mainly by the size of their contributions. The United
States is the largest stockholder in most MDBs, and has maintained this position to preserve veto
power in some institutions over major policy decisions
U.S. Appropriations for MDBs
Figure 1 and Tables 1-4 show the amounts the Administration has requested and Congress has
appropriated annually since FY2000 to the multilateral development banks. Note that the figure
and table do not include callable capital. Since the early 1980s, Congress has authorized but not
appropriated callable capital.
As
As Figure 1 illustrates, the Administration
’'s budget request for U.S. contributions to the MDBs
fell in FY2015 to $2,473 million, from $2,696 in FY2014. The amount appropriated, while not
meeting the full request of the Administration, also fell, from $2,617 million in FY2014 to $2,401
million in FY2015. The relevant FY2014 appropriations legislation is tracked in CRS Report
R43043, State, Foreign Operations, and Related Programs: FY2014 Budget and Appropriations
,
by Susan B. Epstein, Alex Tiersky, and Marian L. Lawson.
, by [author name scrubbed], [author name scrubbed], and [author name scrubbed].
Of note in FY2015, the Administration requested and Congress appropriated funds for several of
the non-concessional lending facilities at the MDBs. Several of the MDBs are in the process of
increasing the size of their non-concessional lending facilities, a process frequently called a
“ "general capital increase
”" (GCI). GCIs are relatively unusual, particularly for so many institutions
at the same time. Contributions to the GCIs are expected to be spread out over a five- to
eightyeareight-year period, depending on the institution. For most of the institutions, the FY2012 funds are the
first annual payment. In FY2015, Congress also appropriated funds for several MDB
concessional lending facilities and more targeted MDB funds, such as those dedicated to
environmental issues.
Congressional Research Service
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Multilateral Development Banks: U.S. Contributions FY2000-FY2015
environmental issues. For FY2016, the Administration has requested about $2.6 billion for the MDBs.
Figure 1. Multilateral Development Banks: Budget Requests and Appropriated
Funds, FY2000-
FY2015
FY2016
Source and Notes: See Tables 1-4.
Congressional Research Service
3
Table 1. Multilateral Development Banks: Budget Requests and Appropriated Funds, FY2000-FY2004
(Million $)
2000
2001
2002
2003
2004
Request
Approp.
Request
Approp.
Request
Approp.
Request
Approp.
Request
Approp.
803.4
771.3
835.6
773.3
803.4
792.4
874.3
844.5
976.8
907.8
10.0
4.0
16.0
10.0
10.0
5.0
3.6
1.6
4.0
1.1
143.3
35.8
175.6
107.8
107.5
100.5
177.8
146.9
185.0
138.4
Asian Development Bank (AsDB)
13.7
13.7
Asian Development Fund (AsDF)
177.0
77.0
125.0
71.8
103.0
98.0
147.4
97.2
151.9
143.6
African Development Bank (AfDB)
5.1
4.1
6.1
6.1
5.1
5.1
5.1
5.1
5.1
5.1
African Development Fund (AfDF)
127.0
127.0
100.0
99.8
100.0
100.0
118.1
107.4
118.1
112.1
25.6
25.6
Inter-American Investment Corp (IIC)b
25.0
16.0
34.0
24.9
25.0
18.0
30.4
18.2
30.9
Multilateral Investment Fund (MIF)b
28.5
25.9
10.0
29.6
24.4
32.6
24.9
European Bank for Reconstruction and
Development (EBRD)
35.8
35.8
35.7
35.8
35.8
35.8
35.6
35.4
35.2
5.0
20.0
20.0
15.0
14.9
15.0
14.9
1,144.4
1,209.8
1,174.8
1,437.1
1,295.8
1,554.9
1,383.0
World Bank Group
Int’l Bank for Reconstruction & Development
(IBRD)
Int’l Development Association (IDA)
Int’l Finance Corporation (IFC)
Multilateral Investment Guarantee Agency
(MIGA)
Global Environmental Facility (GEF)a
Clean Technology Funda
Strategic Climate Funda
Global Agriculture and Food Security Program
(GAFSP)a
Regional/Targeted Development Banks
Inter-American Development Bank (IDB)
Fund for Special Operations (FSO)b
35.8
International Fund for Agricultural Development
(IFAD)
TOTAL MDB APPROPRIATION
CRS-4
1,394.4
1,110.3
1,353.9
Table 2. Multilateral Development Banks: Budget Requests and Appropriated Funds, FY2005-FY2009
(Million $)
2006
2005
2007
2008
2009
Request
Approp.
Request
Approp.
Request
Approp.
Request
Approp.
Request
Approp.
1,061.3
843.2
950.0
940.5
950.0
940.5
1,060.0
942.3
1,277.0
1,115.0
1.7
1.3
107.5
79.2
81.1
80.0
80.0
World Bank Group
Int’l Bank for Reconstruction & Development
(IBRD)
Int’l Development Association (IDA)
Int’l Finance Corporation (IFC)
Multilateral Investment Guarantee Agency
(MIGA)
Global Environmental Facility (GEF)a
120.7
106.6
1.1
56.3
79.2
106.8
Clean Technology Funda
400.0
Strategic Climate Funda
Global Agriculture and Food Security Program
(GAFSP)a
Regional/Targeted Development Banks
Asian Development Bank (AsDB)
Asian Development Fund (AsDF)
23.8
112.2
99.2
115.3
99.0
115.3
99.0
133.9
74.5
115.3
105.0
African Development Bank (AfDB)
5.1
4.1
5.6
3.6
5.0
3.6
2.0
2.0
African Development Fund (AfDF)
118.0
105.2
135.7
134.3
135.7
134.3
140.6
134.6
156.1
150.0
1.7
1.7
29.2
24.8
25.0
25.0
0.01
0.01
0.8
Inter-American Development Bank (IDB)
Fund for Special Operations (FSO)b
Inter-American Investment Corp (IIC)b
7.3
Multilateral Investment Fund (MIF)b
25.0
10.9
1.7
1.7
European Bank for Reconstruction and
Development (EBRD)
35.4
35.2
1.0
1.0
International Fund for Agricultural Development
(IFAD)
15.0
14.9
15.0
14.9
18.0
14.8
18.1
17.9
18.0
18.0
1,492.7
1,219.2
1,335.3
1,277.2
1,329.0
1,273.2
1,499.0
1,277.3
2,071.3
1,493.8
TOTAL MDB APPROPRIATION
CRS-5
25.0
1.7
Table 3. Multilateral Development Banks: Budget Requests and Appropriated Funds, FY2010-FY2014
(Million $)
2010
Request
2011
Approp.
Request
2012
Approp.
2013
2014
Request
Approp.
Request
Approp.c
Request
Approp.
187.0
117.4
187.0
181.0
187.0
187.0
World Bank Group
Int’l Bank for Reconstruction & Development
(IBRD)
Int’l Development Association (IDA)
1,320.0
1,262.5
1,285.0
1,232.5
1,358.5
1,325.0
1,358.5
1,291.4
1,358.5
1,355.0
86.5
86.5
175.0
89.8
143.8
89.8
129.4
124.8
143.8
143.8
500.0
300.0
400.0
184.6
215.7
184.6
185.0
175.3
215.7
184.6
100.0
75.0
235.0
49.9
68.0
49.9
50.0
47.4
68.0
49.9
408.4
99.8
135.0
135.0
134.0
128.2
135.0
133.0
106.6
106.4
106.6
106.6
106.8
101.2
106.6
106.6
115.3
0.0
115.3
100.0
115.3
94.9
115.3
109.9
32.4
32.4
32.4
30.8
32.4
32.4
195.0
172.5
195.0
163.8
195.0
176.3
102.0
75.0
102.0
107.3
102.0
102.0
13.7
6.3
6.3
Int’l Finance Corporation (IFC)
Multilateral Investment Guarantee Agency
(MIGA)
Global Environmental Facility (GEF)a
Clean Technology
Funda
Strategic Climate Fund
Global Agriculture and Food Security Program
(GAFSP)a
Regional/Targeted Development Banks
Asian Development Bank (AsDB)
115.3
Asian Development Fund (AsDF)
105.0
African Development Bank (AfDB)
African Development Fund (AfDF)
159.9
155.0
155.9
109.8
Inter-American Development Bank (IDB)
Fund for Special Operations (FSO)b
Inter-American Investment Corp (IIC)b
Multilateral Investment Fund
(MIF)b
4.7
4.7
21.0
21.0
4.7
25.0
25.0
25.0
25.0
6.3
25.0
30.0
30.0
30.0
29.5
30.0
30.0
30.0
28.5
30.0
30.0
2,341.4
2,043.7
2,957.2
1,948.3
2,695.6
2,447.9
2,625.4
2,488.3
2,695.6
2,616.8
European Bank for Reconstruction and
Development (EBRD)
International Fund for Agricultural Development
(IFAD)
TOTAL MDB APPROPRIATION
CRS-6
Multilateral Development Banks: U.S. Contributions FY2000-FY2015
Table 4. Multilateral Development Banks: Budget Requests
and Appropriated Funds, FY2015
(Million $)
2015
Request
Approp.
World Bank Group
192.9
187.0
1,290.6
1,287.8
Global Environmental Facility (GEF)a
136.6
136.6
Clean Technology Funda
201.3
184.6
63.2
49.9
Asian Development Bank (AsDB)
112.2
106.6
Asian Development Fund (AsDF)
115.3
105.0
African Development Bank (AfDB)
34.1
32.4
African Development Fund (AfDF)
195.0
175.7
Inter-American Development Bank (IDB)
102.0
102.0
Int’l Bank for Reconstruction & Development (IBRD)
Int’l Development Association (IDA)
Int’l Finance Corporation (IFC)
Multilateral Investment Guarantee Agency (MIGA)
Strategic Climate Fund
Global Agriculture and Food Security Program (GAFSP)a
Regional/Targeted Development Banks
Fund for Special Operations (FSO)b
Inter-American Investment Corp (IIC)b
3.4
Multilateral Investment Fund (MIF)b
European Bank for Reconstruction and Development (EBRD)
International Fund for Agricultural Development (IFAD)
TOTAL MDB APPROPRIATION
30.0
30.0
2,473.2
2,400.9
Source: Derived from annual appropriation legislation and Treasury Department budget presentation
documents.
Notes: Data includes rescissions. Data does not include “callable capital,” or funds that the United States has
committed to provide to the MDBs if they need it. Since the early 1980s, callable capital has been authorized, but
not appropriated. To date, there has never been a call on callable capital. There has not been a request or
appropriations for NADBank during the time period covered by this table. Totals may not add due to rounding.
a. The World Bank serves as the trustee for these multilateral development funds.
b. Part of the Inter-American Development Bank (IDB) Group.
c. FY2013 estimate post-sequestration, from CRS Report R43043, State, Foreign Operations, and Related Programs:
FY2014 Budget and Appropriations, by Susan B. Epstein, Alex Tiersky, and Marian L. Lawson.
Congressional Research Service
7
Multilateral Development Banks: U.S. Contributions FY2000-FY2015
Author Contact Information
Rebecca M. Nelson
Specialist in International Trade and Finance
rnelson@crs.loc.gov, 7-6819
Acknowledgments
Amber Wilhelm, Graphics Specialist, helped prepare the figure.
Congressional Research Service
8
Table 1. Multilateral Development Banks: Budget Requests and Appropriated Funds, FY2000-FY2004
(in millions of dollars)
|
|
2000
|
2001
|
2002
|
2003
|
2004
|
Request
|
Approp.
|
Request
|
Approp.
|
Request
|
Approp.
|
Request
|
Approp.
|
Request
|
Approp.
|
World Bank Group
|
Int'l Bank for Reconstruction & Development (IBRD)
|
|
|
|
|
|
|
Int'l Development Association (IDA)
|
803.4
|
771.3
|
835.6
|
773.3
|
803.4
|
792.4
|
874.3
|
844.5
|
976.8
|
907.8
|
Int'l Finance Corporation (IFC)
|
|
|
|
|
|
|
Multilateral Investment Guarantee Agency (MIGA)
|
10.0
|
4.0
|
16.0
|
10.0
|
10.0
|
5.0
|
3.6
|
1.6
|
4.0
|
1.1
|
Regional/Targeted Development Banks
|
|
African Development Bank (AfDB)
|
5.1
|
4.1
|
6.1
|
6.1
|
5.1
|
5.1
|
5.1
|
5.1
|
5.1
|
5.1
|
|
African Development Fund (AfDF)
|
127.0
|
127.0
|
100.0
|
99.8
|
100.0
|
100.0
|
118.1
|
107.4
|
118.1
|
112.0
|
Asian Development Bank (AsDB)
|
13.7
|
13.7
|
|
|
|
|
|
Asian Development Fund (AsDF)
|
177.0
|
77.0
|
125.0
|
71.8
|
103.0
|
98.0
|
147.4
|
97.2
|
151.9
|
143.6
|
Inter-American Development Bank (IDB)
|
25.6
|
25.6
|
|
|
|
|
Fund for Special Operations (FSO)a
|
|
|
|
|
|
|
Inter-American Investment Corp (IIC)a
|
25.0
|
16.0
|
34.0
|
24.9
|
25.0
|
18.0
|
30.4
|
18.2
|
30.9
|
|
Multilateral Investment Fund (MIF)a
|
28.5
|
|
25.9
|
10.0
|
|
29.6
|
24.4
|
32.6
|
24.9
|
|
European Bank for Reconstruction and Development (EBRD)
|
35.8
|
35.8
|
35.8
|
35.7
|
35.8
|
35.8
|
35.8
|
35.6
|
35.4
|
35.2
|
International Fund for Agricultural Development (IFAD)
|
|
5.0
|
20.0
|
20.0
|
15.0
|
14.9
|
15.0
|
14.9
|
North American Development Bank (NADB)
|
|
|
|
|
|
Specialized Fundsb
|
|
Global Environmental Facility (GEF)
|
143.3
|
35.8
|
175.6
|
107.8
|
107.5
|
100.5
|
177.8
|
146.9
|
185.0
|
138.4
|
Clean Technology Fund
|
|
|
|
|
|
Strategic Climate Fund
|
|
|
|
|
|
Green Climate Fund
|
|
|
|
|
|
Global Agriculture and Food Security Program (GAFSP)
|
|
|
|
|
|
|
TOTAL MDB APPROPRIATION
|
1,394.4
|
1,110.3
|
1,353.9
|
1,144.4
|
1,209.8
|
1,174.8
|
1,437.1
|
1,295.8
|
1,554.9
|
1,383.0
|
Table 2. Multilateral Development Banks: Budget Requests and Appropriated Funds, FY2005-FY2009
(in millions of dollars)
|
|
2005
|
2006
|
2007
|
2008
|
2009
|
Request
|
Approp.
|
Request
|
Approp.
|
Request
|
Approp.
|
Request
|
Approp.
|
Request
|
Approp.
|
World Bank Group
|
Int'l Bank for Reconstruction & Development (IBRD)
|
|
|
|
|
|
|
Int'l Development Association (IDA)
|
1,061.3
|
843.2
|
950.0
|
940.5
|
950.0
|
940.5
|
1,060.0
|
942.3
|
1,277.0
|
1,115.0
|
Int'l Finance Corporation (IFC)
|
|
|
|
|
|
|
Multilateral Investment Guarantee Agency (MIGA)
|
|
|
1.7
|
1.3
|
|
1.1
|
|
|
Regional/Targeted Development Banks
|
African Development Bank (AfDB)
|
5.1
|
4.1
|
5.6
|
3.6
|
5.0
|
3.6
|
2.0
|
2.0
|
0.8
|
|
African Development Fund (AfDF)
|
118.0
|
105.2
|
135.7
|
134.3
|
135.7
|
134.3
|
140.6
|
134.6
|
156.1
|
150.0
|
Asian Development Bank (AsDB)
|
|
|
|
23.8
|
|
|
|
|
Asian Development Fund (AsDF)
|
112.2
|
99.2
|
115.3
|
99.0
|
115.3
|
99.0
|
133.9
|
74.5
|
115.3
|
105.0
|
Inter-American Development Bank (IDB)
|
|
|
|
|
|
Fund for Special Operations (FSO)a
|
|
|
|
|
|
Inter-American Investment Corp (IIC)a
|
|
1.7
|
1.7
|
|
7.3
|
|
|
|
Multilateral Investment Fund (MIF)a
|
25.0
|
10.9
|
1.7
|
1.7
|
25.0
|
1.7
|
29.2
|
24.8
|
25.0
|
25.0
|
European Bank for Reconstruction and Development (EBRD)
|
35.4
|
35.2
|
1.0
|
1.0
|
|
0.01
|
0.01
|
|
|
International Fund for Agricultural Development (IFAD)
|
15.0
|
14.9
|
15.0
|
14.9
|
18.0
|
14.8
|
18.1
|
17.9
|
18.0
|
18.0
|
North American Development Bank (NADB)
|
|
|
|
|
|
|
Specialized Fundsb
|
|
Global Environmental Facility (GEF)
|
120.7
|
106.6
|
107.5
|
79.2
|
56.3
|
79.2
|
106.8
|
81.1
|
80.0
|
80.0
|
Clean Technology Fund
|
|
|
|
|
|
400.0
|
|
Strategic Climate Fund
|
|
|
|
|
|
|
Green Climate Fund
|
|
|
|
|
|
Global Agriculture and Food Security Program (GAFSP)
|
|
|
|
|
|
|
TOTAL MDB APPROPRIATION
|
1,492.7
|
1,219.2
|
1,335.2
|
1,277.2
|
1,329.0
|
1,273.2
|
1,499.0
|
1,277.3
|
2,071.3
|
1,493.8
|
Table 3. Multilateral Development Banks: Budget Requests and Appropriated Funds, FY2010-FY2014
(Million $)
|
|
2010
|
2011
|
2012
|
2013
|
2014
|
Request
|
Approp.
|
Request
|
Approp.
|
Request
|
Approp.
|
Request
|
Approp.
|
Request
|
Approp.
|
World Bank Group
|
Int'l Bank for Reconstruction & Development (IBRD)
|
|
|
117.4
|
117.4
|
187.0
|
181.0
|
187.0
|
187.0
|
|
Int'l Development Association (IDA)
|
1,320.0
|
1,262.5
|
1,285.0
|
1,232.5
|
1,358.5
|
1,325.0
|
1,358.5
|
1,291.4
|
1,358.5
|
1,355.0
|
Int'l Finance Corporation (IFC)
|
|
|
|
|
|
Multilateral Investment Guarantee Agency (MIGA)
|
|
|
|
|
|
Regional/Targeted Development Banks
|
African Development Bank (AfDB)
|
|
|
32.4
|
32.4
|
32.4
|
30.8
|
32.4
|
32.4
|
|
African Development Fund (AfDF)
|
159.9
|
155.0
|
155.9
|
109.8
|
195.0
|
172.5
|
195.0
|
163.8
|
195.0
|
176.3
|
Asian Development Bank (AsDB)
|
|
106.6
|
106.4
|
106.6
|
106.6
|
106.8
|
101.2
|
106.6
|
106.6
|
|
Asian Development Fund (AsDF)
|
115.3
|
105.0
|
115.3
|
0.0
|
115.3
|
100.0
|
115.3
|
94.9
|
115.3
|
109.9
|
Inter-American Development Bank (IDB)
|
|
|
102.0
|
75.0
|
102.0
|
107.3
|
102.0
|
102.0
|
Fund for Special Operations (FSO)a
|
|
|
|
|
|
Inter-American Investment Corp (IIC)a
|
4.7
|
4.7
|
21.0
|
21.0
|
20.4
|
4.7
|
|
|
Multilateral Investment Fund (MIF)a
|
25.0
|
25.0
|
25.0
|
25.0
|
25.0
|
25.0
|
13.7
|
6.3
|
6.3
|
European Bank for Reconstruction and Development (EBRD)
|
|
|
|
|
|
|
International Fund for Agricultural Development (IFAD)
|
30.0
|
30.0
|
30.0
|
29.5
|
30.0
|
30.0
|
30.0
|
28.5
|
30.0
|
30.0
|
North American Development Bank (NADB)
|
|
|
|
|
|
Specialized Fundsb
|
|
Global Environmental Facility (GEF)
|
86.5
|
86.5
|
175.0
|
89.8
|
143.8
|
89.8
|
129.4
|
124.8
|
143.8
|
143.8
|
|
Clean Technology Fund
|
500.0
|
300.0
|
400.0
|
184.6
|
400.0
|
184.6
|
185.0
|
175.3
|
215.7
|
209.6
|
|
Strategic Climate Fund
|
100.0
|
75.0
|
235.0
|
49.9
|
190.0
|
49.9
|
50.0
|
47.4
|
68.0
|
74.9
|
Green Climate Fund
|
|
|
|
|
|
Global Agriculture and Food Security Program (GAFSP)
|
|
408.4
|
99.8
|
308.0
|
135.0
|
134.0
|
128.2
|
135.0
|
133.0
|
|
TOTAL MDB APPROPRIATION
|
2,341.4
|
2,043.7
|
2,957.2
|
1,948.3
|
3,144.4
|
2,447.9
|
2,625.4
|
2,488.3
|
2,695.6
|
2,666.8
|
Table 4. Multilateral Development Banks: Budget Requests and Appropriated Funds, FY2015-FY2016
(in millions of dollars)
|
|
2015
|
2016
|
Request
|
Approp.
|
Request
|
Approp.
|
World Bank Group
|
Int'l Bank for Reconstruction & Development (IBRD)
|
192.9
|
187.0
|
192.9
|
Int'l Development Association (IDA)
|
1,290.6
|
1,287.8
|
1,290.6
|
Int'l Finance Corporation (IFC)
|
|
Multilateral Investment Guarantee Agency (MIGA)
|
|
Regional/Targeted Development Banks
|
African Development Bank (AfDB)
|
34.1
|
32.4
|
34.1
|
African Development Fund (AfDF)
|
195.0
|
175.7
|
227.5
|
Asian Development Bank (AsDB)
|
112.2
|
106.6
|
5.6
|
Asian Development Fund (AsDF)
|
115.3
|
105.0
|
166.1
|
Inter-American Development Bank (IDB)
|
102.0
|
102.0
|
102.0
|
Fund for Special Operations (FSO)a
|
Inter-American Investment Corp (IIC)a
|
Multilateral Investment Fund (MIF)a
3.4
|
European Bank for Reconstruction and Development (EBRD)
|
|
International Fund for Agricultural Development (IFAD)
|
30.0
|
30.0
|
31.9
|
North American Development Bank (NADB)
|
|
45.0
|
Specialized Fundsb
Global Environmental Facility (GEF)
|
136.6
|
136.6
|
168.3
|
Clean Technology Fund
|
201.3
|
184.6
|
170.7
|
Strategic Climate Fund
|
63.2
|
49.9
|
59.6
|
Green Climate Fund
|
|
150.0
|
Global Agriculture and Food Security Program (GAFSP)
|
|
43.0
|
TOTAL MDB APPROPRIATION
|
2,473.2
|
2,400.9
|
2,687.3
|
Source: Derived from annual appropriation legislation and Treasury Department budget presentation documents.
Notes: Data includes rescissions. Data does not include "callable capital," or funds that the United States has committed to provide to the MDBs if they need it. Since the early 1980s, callable capital has been authorized, but not appropriated. To date, there has never been a call on callable capital. Table does not include requests or appropriations for multilateral debt relief initiatives. Totals may not add due to rounding.
Author Contact Information
[author name scrubbed], Specialist in International Trade and Finance
([email address scrubbed], [phone number scrubbed])
Acknowledgments
Amber Wilhelm, Graphics Specialist, helped prepare the figure.
Footnotes
| 1.
|
The International Development Association (IDA) is the World Bank's concessional loan affiliate. The Asian Development Fund (AsDF), African Development Fund (AFDF), and Fund for Special Operations (FSO) are the comparable programs at the AsDB, AfDB, and IDB, respectively.
|
| 2.
|
MDB market-based loans cost a little more than the rate the banks pay to borrow funds commercially. IDA and AFDF charge about 3/4 of 1% annually. The IDB charges 1% to 4% annually, depending on the project and the borrower. Most borrowers from the concessional programs have per capita incomes of less (often much less) than $900 annually.
|