9 Official Funding Sources: Multilateral and Development Finance Agencies »
John Dewar, Felicia Hanson Ofori-QuaahFrom: International Project Finance (3rd Edition)
Edited By: John Dewar
This chapter discusses multilateral development and finance agencies. The primary goal of these agencies is to support economic and social development goals in economically challenged countries or regions. While these institutions have always played a major role in facilitating cross-border investment, upheavals in the global markets arising from the global financial crisis and the resulting constriction of available capital to project developers from traditional commercial funding sources, served to enhance the importance of multilateral and development institutions in global commerce and international development. The fundamental difference between export credit agencies and multilaterals is that the former exist to promote or facilitate exports from the relevant nation, whilst the latter is focused on development.