Financing Options of Developing Countries

Paper Summary:

All national governments finance their expenditures through a number of different methods, the most important of which is taxes. Other options available to developing countries include foreign financing, government borrowing, and grants and other assistance from nongovernmental organizations. This paper provides a review and discussion of these components, followed by a summary of the research in the conclusion.

From the Paper:

"The International Finance Corporation is a United Nations specialized agency affiliated with but legally separate from the International Bank for Reconstruction and Development (World Bank). The IFC was founded in 1956 in an effort to stimulate the economic development of its members by providing capital for private enterprises, the IFC has targeted its aid toward less-developed countries and has been their largest multilateral source of private-sector equity financing and loans. The IFC is headed by a president, who also serves as president of the World Bank; governors and executive directors of the World Bank also serve at the IFC, though it has its own operational and legal staff. Headquartered in Washington, D.C., its original membership of 31 had grown to about 175 by the beginning of the 21st century."

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