Owned by the Global Bank Group1, The Bank for International Development and Reconstruction, known as the Global Bank borrows in the international capital markets (“BIDR,” “Global Bank,” or “Bank”) is the Global Bank Group’s long-term sovereign lending institution. As a development bank with an agenda driven by G-7/G-8 and G-20-priorities, its leading priority is to promote global economic and social development. Unlike the multilateral development banks (MDBs)2, Global Bank is not restricted to operating only in developing countries.
Far-Reaching globalization of economic activity has resulted in an ever-growing interdependence among different areas of economic policy. Trade and financial policies and developments are increasingly interlinked within countries and regions in the ways they greatly affect other countries and regions. Therefore, given Global Bank responsibilities in these areas, the Global Bank moved to strengthen its relations with Intergovernmental Organizations (IGOs) with which it shares the same goals and missions. It is emphasizing, in particular, its global priorities and expecting shortly to sign memoranda of understanding regarding future cooperation and collaboration in the financing of development projects and programs concerning certain regions, which aim at setting principles and criteria for the selection of those projects and programs and other activities of common interest.
Global Bank has a special relationship with bilateral and Multilateral Development Banks (MDBs) – the African Development Bank, the Asian Development Bank, the European Bank for Reconstruction and Development, the European Investment Bank, the Inter-American Development Bank Group, and the World Bank Group – with which it shares a common goals: ending poverty and hunger, and achieving sustainable development in its three dimensions through promoting inclusive economic growth, protecting the environment, and promoting social inclusion.
The Global Bank maintains close relationship with formal international organizations, such as the International Monetary Fund (IMF), the World Bank (WB), the Financial Stability Board (FSB), the Organization for Economic Cooperation and Development (OECD), the World Trade Organization (WTO), the United Nations and International Labor Organization (ILO).
The Global Bank also maintains close relations with several international organizations active in regional security, including the United Nations (UN), the North Atlantic Treaty Organization (NATO), the European Union (EU), and the Council of Europe (CoE).
Intergovernmental organizations having received a standing invitation to participate as Observers in the sessions and the work of the Global Bank Board of Governors and maintaining permanent offices at Global Bank's Headquarters.
To learn more about the Global Bank Disaster Risk Reduction and Reconstruction Fund, What we do and How we do it and Management and Organization, visit the About DRRRF and the Frequently Asked Questions Section of the DRRRF Website Section.
For information about the Global Bank, please visit http://www.global-bank.org
1 Global Bank Group, consisting of five institutions, represents, develops and supports the collective interests of its business interests around the world. One of these institutions is The Bank for International Development and Reconstruction known as the Global Bank,(“BIDR,” “Global Bank,” or “Bank”). Global Bank is a full-fledged private sector global development bank, in formation, with legal and regulatory rights including formal approval to utilize the term "Bank" pending – the world’s second global development bank – positioned next to the World Bank and the preeminent regional development banks (MDBs). The Bank for International Development and Reconstruction borrows in the international capital markets.
2 The Multilateral Development Banks (MDBs) are institutions that provide financial support and professional advice for economic and social development activities in developing countries. The MDBs provide financial and technical support to developing countries to help them strengthen economic management and reduce poverty. Together, the MDBs provide support to the world's poorest in every corner of the globe, strengthening institutions, rebuilding states, addressing the effects of climate change, and fostering economic growth and entrepreneurship.