Find in the text the terms that match to the following definitions.

1)a legal arrangement by which you borrow money from a bank or similar organization in order to buy a house, and pay back the money over a period of years;

2) a person or organization that tries to help two other people or groups to agree with each other;

3) an amount of money that you borrow from a bank;

4) the official system for providing something, especially something that everyone in a country needs to have;

5) to make it easier for a process or activity to happen.

6. Complete the sentences with the appropriate form of the words in brackets.

International financial institutions (IFIs).

They are financial institutions that have (1)……. (establish) by more than one country, and hence are subjects of international law. Their owners or shareholders are (2)…… (general) national governments, although other international institutions and other organisations (3)…… (occasional) figure as shareholders. The most prominent IFIs are creations of multiple nations, although some bilateral financial institutions (created by two countries) exist and are technically IFIs. Many of these are multilateral development banks (MDB). A multilateral development bank (MDB) is an institution, (4) …… (create) by a group of countries, that provides financing and professional advising for the purpose of development. MDBs have large memberships including both developed donor countries and developing borrower countries. The following are usually (5)….. (classify) as the main MDBs:

• World Bank
• European Investment Bank
• African Development Bank
• Asian Development Bank
• European Bank for Reconstruction and Development
• Inter-American Development Bank Group

Bretton Woods institutions. The best- (6)… (know) IFIs were established after World War II to assist the reconstruction of Europe and provide mechanisms for international cooperation in (7 )…(manage) the global financial system. They include the World Bank, the IMF (International Monetary Bank), and the International Finance Corporation. Today (8)… (large) IFI in the world is the European Investment Bank. Regional development banks. The regional development banks consist of several regional institutions that have functions similar to the World Bank group's activities, but with particular focus on a specific region. Shareholders usually consist of the regional countries plus the major donor countries. The best-known of these regional banks cover regions that (9)…… (rough) correspond to United Nations regional groupings, including the Inter-American Development Bank, the Asian Development Bank; the African Development Bank; and the European Bank for Reconstruction and Development.

Bilateral development banks and agencies. Bilateral development banks are financial institutions set up by individual countries to finance development projects in (10)…… (develop) countries and (11)….. (emerge) markets. Examples include: the Netherlands Development Finance Company FMO, headquarters in The Hague, and others.

Other regional financial institutions. Several regional groupings of countries (12)….. (establish) international financial institutions to finance various projects or activities in areas of mutual interest.

Notes: hence - отже

to figure as – відігравати роль

donor country - country that gives the aid in terms of money, food or other

direct aid

Inter-American Development Bank Group – Міжамериканська група

банків розвитку

Bretton Woods institutions - are the World Bank, and the International Monetary Fund (IMF). They were set up at a meeting of 43 countries in Bretton Woods, New Hampshire, USA in July 1944. Their aims were to help rebuild the postwar economy and to promote international economic cooperation

The Hague – Гаага (місто у Нідерландах)

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