For example, there are regional development banks for different areas of the world Africa, Asia, the Caribbean, Europe, and Latin America. Some commercial banks may also lend money to developing countries. In recent years, the debt owed to many of these banks has become a heavy financial burden. The International Monetary Fund is a cooperative institution with more than 180 member countries. It works to maintain an orderly system of receipts and payments between nations, all with their different currencies, exchange rates, and government policies.
Most richer nations have government agencies that assist developing countries with loans and grants.
In recent years, the Scandinavian countries, the Netherlands, and France have given, proportionally, the largest amounts of aid. And many private nonprofit organizations as well as many religious foundations fund development projects around the world. The World Bank cooperates with many of these institutions, and some of its projects are financed jointly with them. The World Bank Group. All Rights Reserved.