Governance and Accountability: The Regional Development Banks

Abstract

This chapter begins with a thorough survey of the state of governance and accountability at the African Development Bank, Asian Development Bank, European Bank for Reconstruction and Development, and the Inter-American Development Bank. It presents an updated survey of the regional development banks (RDBs) with respect to governance and accountability issues. The African Development Bank provides non-concessional loans at or near-market rates to middle-income countries - fifteen at the moment - and non-sovereign entities. The Asian Development Bank was founded in 1966 to promote economic growth and fight absolute poverty, particularly amongst its developing member countries. The Inter-American Development Bank was chartered in 1959 with the purpose of contributing to the "acceleration of the process of economic development" in Latin American and Caribbean countries. The European Bank for Reconstruction and Development was established in 1991. The chapter concludes by providing a number of observations and recommendations relating to the governance and accountability of the RDBs.

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