Multilateral Development Bank
/ˌmʌltɪˈlætərəl dɪˈvɛləpmənt bæŋk/
Definitions
- (n.) An international financial institution formed by multiple countries to provide funding and support for economic development projects in developing nations.
The multilateral development bank approved a loan to improve infrastructure in several African countries.
Forms
- multilateral development bank
- multilateral development banks
Related terms
See also
Commentary
Usually established by treaty, multilateral development banks operate with the goal of fostering economic development and reducing poverty through financial and technical assistance.
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