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Obstacles to progress

Realities

IFC
“ The International Finance Corporation (IFC) is an international financial institution that offers
investment, advisory, and asset-management services to encourage private-sector

development in less developed countries. It was established in 1956, as the private-sector arm
of the World Bank Group, to advance economic development by investing in for-profit and

commercial projects for poverty reduction and promoting development “
"International Finance Corporation." 236
Wikipedia
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MIGA
“ The Multilateral Investment Guarantee Agency (MIGA) is an international financial institution

which offers political risk insurance and credit enhancement guarantees. These guarantees
help investors protect foreign direct investments against political and non-commercial risks in

developing countries . “
"Multilateral Investment Guarantee Agency." 237
Wikipedia

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ICSID
“ International Centre for Settlement of Investment Disputes (ICSID) is an
internationalarbitration institution established in 1966 for legal dispute resolution and

conciliation between international investors. “
"International Centre for Settlement of Investment Disputes." 238
World Bank
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IMF
“ The International Monetary Fund (IMF) is an international organization, headquartered in

Washington, D.C., consisting of 189 countries working to foster global monetary cooperation,
secure financial stability, facilitate international trade, promote high employment and
sustainable economic growth, and reduce poverty around the world while periodically

depending on the World Bank for its resources “
"International Monetary Fund" 239
Wikipedia
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Difference between the World Bank & IMF
“ The World Bank has one central purpose: to promote economic and social progress in developing
countries by helping to raise productivity so that their people may live a better and fuller life.
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Set up as a voluntary and cooperative institution, the IMF attracts to its membership nations that
are prepared, in a spirit of enlightened self-interest, to relinquish some measure of national
sovereignty by abjuring practices injurious to the economic well-being of their fellow member