Database Reports

NSE Development Financing Research Report No. 2

Building on the INSE's inaugural report on development financing institutions, INSE and AFD have created synergies between INSE's academic rigor and AFD's rich practical experiences to refine the qualification criteria of the Public Development Banks (PDBs) and Development Financing Institutions (DFIs) in this report. The refined qualification criteria are as the follows:

(1) They have legal personality, separate financial account, dedicated personnel, and were not established for accomplishing a specific short-term goal [in distinction with government credit programs, government entities, certain trust funds managed by public institutions, special purpose vehicles, etc.];

(2) Their main products and services are to deploy financial instruments such as loans, equity, guarantee rather than providing pure grants only [in distinction from grant-execution agencies and other non-financial public institutions carrying out public mission];

(3) Their funding sources go beyond periodic budgetary transfers from governments [as distinguished from aid agencies that primarily receive periodic government budgetary transfers];

(4) They proactively pursue a public policy-oriented official mandate in their charters [in distinction with profit-driven commercial banks];

(5) They have government steering in deciding on their corporate strategies, i.e., governments initiate or establish DFIs, and sit on the Board of Directors to play a steering role in pursuing the development-oriented mandate, or provide the significant support for fund-raising) [as distinguished from grass-root organizations whose goals are in line with the public policy's objective].


Applying the above five criteria in a consistent manner, we have identified 527 PDBs and DFIs worldwide and collected their basic information, such as the establishment year, ownership structure, geographical distribution of operation, official mandate, income levels of their countries where national PDBs and DFIs are located, as well as financial indicators such as total assets. Furthermore, we classify the identified institutions and present stylized facts on the ownership structure (who owns it), operation scope (where it operates), scale (how big in terms of total assets), official mission (what goal it pursues) and the income level of their countries, to reveal the diversity of PDBs and DFIs.

Title: Mapping 500+ Development Banks——Qualification Criteria, Stylized Facts, and Development Trends

Authors: Jiajun Xu, Régis Marodon, Xinshun Ru

Launched: October 2021

Citation: Xu, Jiajun, Régis Marodon, and Xinshun Ru. 2021. “Mapping 500+ Development Banks——Qualification Criteria, Stylized Facts, and Development Trends.” New Structural Development Financing Research Report No. 2.