Mobilising Private Capital for Growth, Resilience and Prosperity

Annex A. Landscape of development banks and DFIs

Development banks and DFIs differ in scope and geographic coverage (Figure A A.1), as well as ownership structures and business models, and accordingly have distinct strengths:

• Multilateral development banks (MDBs) operate globally or regionally, including the African Development Bank (AfDB), Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), Inter-American Development Bank (IDB Group, including IDB Invest) and World Bank Group (including IFC and MIGA), operate globally or regionally. Some MDBs include public and private sector arms, such as the World Bank Group with IFC and MIGA and the IDB Group with IDB Invest. MDBs are among the largest providers of development finance and mobilise the largest volumes of private finance. MDBs typically enjoy high credit ratings and strong balance sheets

• Bilateral development banks are nationally mandated institutions, including Germany’s KfW Development Bank, Agence française de développement (AFD) and Japan International Cooperation Agency (JICA). Bilateral development banks primarily support sovereign operations and focus on policy mandates.

• Bilateral DFIs are private-sector-focused, including British International Investment (BII), FinDev Canada and the Impact Fund Denmark (IFDK). DFIs can be more risk-tolerant and are typically structured as commercially oriented institutions.

• Regional and national development banks (NDBs) of developing countries include institutions such as DBSA, BNDES and TDB. National and regional development banks are often set up to deliver national development priorities, deeply embedded in domestic public and private sector contexts and able to provide finance in local currency.

For the complete list of institutions included in the report, refer to Table A A.1. The institutions were selected based on their relative size, availability of access to reliable data and their representativeness across different regions.

Figure A A.1. Landscape of development banks and DFIs

Source: Adapted from (OECD/The World Bank/UN Environment, 2018[1]).

Table A A.1. Development banks and DFIs included in this report

	Category	Name
1	MDBs	Asian Development Bank
2	MDBs	African Development Bank
3	MDBs	Asian Infrastructure Investment Bank
4	MDBs	European Bank for Reconstruction and Development
5	MDBs	European Investment Bank
6	MDBs	International Bank for Reconstruction and Development
7	MDBs	International Development Association
8	MDBs	Inter-American Development Bank
9	MDBs	Inter-American Investment Corporation (IDB Invest)
10	MDBs	International Finance Corporation
11	MDBs	Multilateral Investment Guarantee Agency
12	Bilateral Development Banks	Agence Française de Développement
13	Bilateral Development Banks	Japan International Cooperation Agency
14	Bilateral Development Banks	Kreditanstalt für Wiederaufbau Development Bank
15	Bilateral DFIs	Belgian Investment Company for Developing Countries
16	Bilateral DFIs	British International Investment
17	Bilateral DFIs	Cassa Depositi e Prestiti
18	Bilateral DFIs	Compañía Española de Financiación del Desarrollo
19	Bilateral DFIs	Deutsche Investitions- und Entwicklungsgesellschaft
20	Bilateral DFIs	FinDev Canada
21	Bilateral DFIs	Finnish Fund for Industrial Cooperation
22	Bilateral DFIs	Impact Fund Denmark
23	Bilateral DFIs	Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden
24	Bilateral DFIs	Norwegian Investment Fund for Developing Countries
25	Bilateral DFIs	Oesterreichische Entwicklungsbank
26	Bilateral DFIs	Proparco
27	Bilateral DFIs	Sociedade para o Financiamento do Desenvolvimento
28	Bilateral DFIs	Società Italiana per le Imprese all'Estero
29	Bilateral DFIs	Swedfund International
30	Bilateral DFIs	Swiss Investment Fund for Emerging Markets
31	Bilateral DFIs	U.S. International Development Finance Corporation
32	Regional and National Development Banks	West African Development Bank
33	Regional and National Development Banks	Banco Centroamericano de Integración Económica
34	Regional and National Development Banks	Development Bank of Latin America and the Caribbean
35	Regional and National Development Banks	East African Development Bank
36	Regional and National Development Banks	Eastern and Southern African Trade and Development Bank
37	Regional and National Development Banks	Agencia Financiera de Desarrollo
38	Regional and National Development Banks	Banco de Desarrollo del Ecuador B.P.
39	Regional and National Development Banks	Banco de Desarrollo Productivo
40	Regional and National Development Banks	Banco Nacional de Fomento
41	Regional and National Development Banks	Banque Nationale d'Investissement
42	Regional and National Development Banks	Banque Nationale pour le Développement Economique
43	Regional and National Development Banks	Brazilian National Economic and Social Development Bank
44	Regional and National Development Banks	Corporación Financiera Nacional
45	Regional and National Development Banks	Development Bank of Ethiopia
46	Regional and National Development Banks	Development Bank of Mongolia
47	Regional and National Development Banks	Development Bank of Nigeria
48	Regional and National Development Banks	Development Bank of Rwanda
49	Regional and National Development Banks	Development Bank of Southern Africa
50	Regional and National Development Banks	El Banco De Desarrollo Del Perú
51	Regional and National Development Banks	Nacional Financiera
52	Regional and National Development Banks	PT Sarana Multi Infrastruktur
53	Regional and National Development Banks	Small Industries Development Bank of India
54	Regional and National Development Banks	Vietnam Development Bank
55	Regional and National Development Banks	Banco de Desenvolvimento de Minas Gerais

Source: (Peking University and AFD, 2025[2]), with additional desk research.

References

[1] OECD/The World Bank/UN Environment (2018), Financing Climate Futures: Rethinking Infrastructure, OECD Publishing, https://doi.org/10.1787/9789264308114-en.

[2] Peking University and AFD (2025), Public Development Banks and Development Financing Institutions Database, Peking University and AFD, http://www.dfidatabase.pku.edu.cn/index.htm.