The World Bank provides financial and technical assistance to developing countries around the world. It aims to reduce global poverty and improve living standards. It is comprised of two development institutions owned by 185 member countries — the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).
The IBRD focuses on middle income and creditworthy poor countries, while IDA focuses on the poorest countries in the world.
The Asian Development Bank is dedicated to poverty reduction in Asia and the Pacific. It was established in 1966 and has its headquarters in Manila. The ADB is owned and financed by 67 member countries, of which 48 are from the region and 19 are from other parts of the globe.
The Philippines is ADB’s fifth largest borrower and technical assistant recipient, and ADB’s largest client for approved private sector loan, equity investment, and guarantee operations.
The Japan Bank for International Cooperation undertakes lending and other programs to promote Japanese exports, imports and economic activities overseas, stabilize the international financial order, and for economic and social development as well as economic stability in the developing economies.
JBCI has 985.5 billion yen in capital for international financial operations, and 7,231.5 billion yen for overseas economic cooperation operations.
The Organization of the Petroleum Exporting Countries (OPEC) fund for international development was created at the first OPEC meeting in 1979.
OFID provides financial assistance through public sector loans for development projects and programs, balance of payments support and debt relief under the Heavily Indebted Poor Countries (HIPC) Initiative, trade financing, support to private enterprises, grants for technical assistance, food aid, research and humanitarian relief work, and contributing to the resources of other development organizations
AusAID is the Australian government’s overseas aid program. It is a federally funded program that aims to reduce poverty in developing countries.
Australia is one of the top three bilateral grant aid donors to the Philippines, along with the United States and Japan. AusAID has earnmarked an estimated $89.9 million in aid to the Philippines for 2007-2008, and has already provided $100.6 million in official development assistance.
In 2007, Australia revised its approach to development in the Philippines and began implementing a new, four-year country program strategy aimed in assisting the Philippines to meet its development goals, especially in reducing poverty, increasing economic growth and maintaining national stability
The KfW Bankengruppe (KfW banking group) is one of the ten biggest banks in Germany. It was established in 1948 and is owned by the federal government (80%) and the Länder (20%)
KfW offers individual loan programs and supports small and medium-sized enterprises in Germany and investments abroad.
The Export-Import Bank of Korea (Korea Eximbank) is an official export credit agency which provides comprehensive export credit and guarantee programs to support Korean enterprises in conducting overseas business. Since it was established in 1976, the bank has supported Korea’s export-led economy.
Korea Eximbank’s primary services include export loans, trade finance, and guarantee programs. The bank also provides overseas investment credit, import credit, and information services related to business opportunities abroad.
Korea Eximbank also operates two government funds: the Economic Development Cooperation Fund, a Korean Official Development Assistance program, and the Inter-Korean Cooperation Fund, an economic cooperation program with North Korea.
For the Philippines, China’s rising economy has generated billions of dollars in trade, investment, and development assistance.
It is the Philippines’s third largest trading partner, after Japan and the U.S., with an average annual growth rate of 41 percent. China is also our country’s third largest export partner. Chinese investments in the Philippines totaled $350 million from January to September 2006.
Agreements signed between the Philippines and China include a 2005 joint trade committee agreement to develop cooperation in mining and infrastructure, and a 2007 framework agreement on expanding and developing bilateral economic and trade cooperation.
The U.S. is the Philippines’s second largest trading partner. The U.S. State department says that it is working closely with the Philippines to reduce poverty and increase prosperity.
USAID programs support the ‘Philippines’ war on poverty as well as the government’s reform agenda in critical areas, including anti-money laundering, rule of law, tax collection, and trade and investment. Other USAID programs have focused on conflict resolution, livelihood enhancement for former combatants, and economic development in Mindanao and the Autonomous Region in Muslim Mindanao.
Other continuing programs focus on modern family planning, infectious disease control, environmental protection, rural electrification, and provision of basic services–as well as PL 480 food aid programs and others, which together totaled $211.3 million. In 2006, the Millennium Challenge Corporation granted $21 million to the Philippines for a threshold program addressing corruption in revenue administration.
BNP Paribas is one of the largest international banking networks with strong positions in Asia and a significant presence in the United States.
In 2007, it ranked sixth in the banking industry first among French companies, according to Forbes magazine.
BNP Paribas operates in over 85 countries, and has 162,700 employees.