Global trade integration among countries is often facilitated by international and regional institutions. These institutions can focus on global trading systems or financial and monetary systems. Such institutions can help to solve problems including economic development, intellectual property, environmental protection, unfair practices, and dispute settlement (Luo, et al, 2004, Chap 8, p.223). The goals of these institutions are to help raise living standards in member countries, encourage wealthier nations to remove trade policies that are unfair, and to commit the countries to open their markets further to developing nations. The Asian Development Bank (ADB) and The Organisation for Economic Co-Operation and Development (OECD) are two such institutions with priorities in enhancing the economic landscapes of their member countries.
The Asian Development Bank is a regional financial institution headquartered in Manila, Philippines. Their primary vision is to free Asia and Pacific countries of poverty. The countries in that region are home to two thirds of the worlds poor (ABD, 2008).
English: Kingdom Centre, Riyadh, Saudi Arabia. Tak...
English: Saudi Arabia
Photo: Laurent AchedjianThe ABD was established in 1966 with the goal to promote social and economic development in Asian and Pacific countries with monetary loans and technical assistance. The institution is a multilateral one that is owned by 67 members, of which 48 are from the region and 19 from other parts of the globe (ABD, 2008). They engage primarily in public sector lending for the purpose of development in its developing member countries. The clients of ADB are its member governments, who are also its shareholders, and the bank does not provide loans to individual clients. In addition to providing low interest loans, grants, and private sector investments, the bank also offers knowledge and advice in such areas as infrastructure, health, and education. The ultimate goal is to improve the quality of life for nearly 2 billion people in the region who...