Chapter 5

• IFI means International Financial Institutions
• International Financial Institutions greatly influenced the development of thinking and practice in recent decades.
• The most significant contribution of the IFI was its analysis and ideas that dominated the aspects of development strategy and ideology.
• IMF International monetary fund
• the rule of IMF are surveillance, technical assistance and lending.
• IBRD means The international bank for reconstruction and development
• IDA means The international development association
• IFC means The international finance Corporation
• MIGA means The multilateral investment guarantee agency
• ICSID means The international centre for settlement of investment disputes
• Local culture is a company that is engaging in global competition still observes its offering and processes. The only exception with the global model is the marketing approach.
• Multinational a product that is brought to global market without change of its local ingredients, offerings, and process. To alter the recipe and production process to be adaptive within the specific market and culture.
• Fuve factors that have influenced various IFI's; a choosing strategic areas: Growth, Affect the poor, Major global trends, Large gaps