African Financial Organizations - Africa is the second largest continent of the world. At the same time one could say that it is the least developed of all continents. Poor infrastructure and a difficult geographical situation in large parts of the continent (vast deserts, impenetrable primeval forests) complicate intra-African trade. Furthermore, Africa´s cultural and ethnical diversity leads to language barriers and conflicts of interests, often resulting in civil wars. These are only some factors making the establishment of Africa-wide organizations really difficult. Therefore, we decided to concentrate on only one African sub-region, which is West Africa. In the following we will thus introduce some important West African financial organizations and afterwards present their most important cooperation project: the creation a West African Monetary Union similar to the Eurozone by the end of 2009.
Arab Financial Organizations
The Arab region includes 23 North African and Middle Eastern member states. Its population is roughly 325 million people. Most of its member states dispose of developed economies, whereas their main sources of income are derived from oil, gas and other raw material exports. Arab financial organizations mainly engage in two fields of action: the financial aid for Arab member states themselves on the one hand and development aid for non-Arabic African countries on the other hand. Therefore, we´d like to present one organization for each field of action: First, the Arab Bank for Economic Development in Africa gives financial aid to less developed African areas which might be of economic interest regarding cooperation projects in the future. Second, the Arab Monetary Fund focuses on the development of Arab nations for example by correcting their balances of payments if necessary.
Asian Financial Organizations:
Asia is the largest and most populated continent in the world. After North America and Europe, the Asian GDP is the 3rd largest, its most accelerating economies being China, India and Japan. However, other Asian countries such as the Philippines, Pakistan or Vietnam for example recently also show very high economical growth rates. To further enforce steady growth within the Asian region, intra-Asian cooperation is very important, whereas financial organizations like the Asian Development Bank are playing a key role. In 2006, the ADB spent 7.5 billion US dollar on cooperation-oriented projects. Since 1990, an average of 5 billion US dollar has been spent annually. Furthermore, the organization consists of 67 member states. Therefore, we think the ADB is the most important organization in this area and like to present it in more detail.
Inhaltsverzeichnis (Table of Contents)
- African Financial Organizations – Economic regionalism and the creation of a single monetary union in the ECOWAS
- The organizational framework of West Africa: ECOWAS, the AEC and the AU
- Important financial organizations in West Africa
- The West African Monetary Agency (WAMA)
- The West African Monetary Institute (WAMI)
- The creation of a single West African Monetary Union
- The ECOWAS Monetary Cooperation Programme (EMCP)
- The West African Economic and Monetary Union (WAEMU)
- The West African Monetary Zone (WAMZ)
- The future of the two monetary unions and their merger into a single one
- The quick fix approach
- The realistic gradualism approach
- Arabic Financial Organizations
- The Arab Bank for Economic Development in Africa (ABEDA)
- Organizational structure
- Main goals
- Capital stock
- ABEDA's lending policy
- The current spending plan
- Some examples of ABEDA's investment projects in 2007
- The Arab Monetary Fund (AMF)
- Introduction to the AMF
- Organizational structure of the AMF
- AMF cooperation with Arab, regional and international organizations
- AMF lending
- Asian Financial Organizations – The Asian Development Bank (ADB)
- Structure of the ADB
- Projects of the ADB
- ADB Annual Report 2006
- ADB Fund Raising
- ADB and India (Case)
- ADB and South Asia
- Regional Integration
- Harmonization
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This document analyzes the financial organizations operating within three distinct regions: West Africa, the Arab world, and Asia. Its primary objective is to provide an overview of the key financial institutions in each region and their respective roles in promoting economic development and integration. The work explores the challenges and opportunities faced by each region and the strategies employed by these institutions to address them.
- The creation and development of regional financial organizations
- The impact of financial institutions on economic growth and development
- The role of regional cooperation and integration in promoting economic stability and prosperity
- The challenges and opportunities faced by various regions in fostering economic development
- The impact of financial institutions on regional trade and investment
Zusammenfassung der Kapitel (Chapter Summaries)
The first chapter focuses on the organizational framework of West Africa, outlining the role of the Economic Community of West African States (ECOWAS) and its member states. It examines the challenges faced by the region, such as civil wars and fragile economies, and the efforts to promote economic integration through the ECOWAS Monetary Cooperation Programme. The chapter also details the functions and goals of key financial institutions in West Africa, including the West African Monetary Agency (WAMA) and the West African Monetary Institute (WAMI).
Chapter two delves into the realm of Arabic financial organizations, with a specific focus on the Arab Bank for Economic Development in Africa (ABEDA) and the Arab Monetary Fund (AMF). The chapter explores the organizational structure, objectives, and lending policies of these institutions. It also highlights some of the key development projects undertaken by ABEDA.
Chapter three shifts the attention to the Asian region, focusing on the Asian Development Bank (ADB). This chapter details the structure, projects, and fund-raising activities of the ADB. It explores the ADB's role in promoting development in South Asia and its impact on the region's economic growth.
Schlüsselwörter (Keywords)
This text explores the key concepts of regional financial organizations, economic development, and integration. It examines the roles of institutions such as the ECOWAS, ABEDA, AMF, and ADB in promoting economic growth and stability in West Africa, the Arab world, and Asia. The work also highlights the challenges and opportunities presented by regional integration efforts and the impact of financial institutions on trade and investment.
- Quote paper
- BSc Daniel Döring (Author), 2007, African, Arab and Asian financial organizations, Munich, GRIN Verlag, https://www.grin.com/document/90810
