across important sectors like infrastructure, manufacturing, financial markets, agribusiness,
      SMEs and renewable energy. Keeping in alignment with the Country Partnership Strategy (CPS)
      of the World Bank Group in India, IFC focuses on low-income states in India.
      New Development Bank
           The New Development Bank (NDB) has been instituted with a vision to support and foster
      infrastructure and sustainable development initiatives in emerging economies. The founding
      members of the NDB - Brazil, Russia, India, China and South Africa (BRICS) - brought in
      capital of USD 1 billion as initial contribution.
      Relevant Website:
      Asian Infrastructure Investment Bank
           Asian Infrastructure Investment Bank (AIIB) is a Multilateral Development Bank (MDB)
      set up in 2016 to foster sustainable economic development, create productive assets and improve
      infrastructure in Asia through financing of infrastructure projects. India is one of the founding
      Members and the second largest shareholder. India along with 20 other countries signed the
      InterGovernmental Memorandum of Understanding (MoU) for establishing the AIIB in Beijing.
      Relevant Website:
      International Fund for Agricultural Development
           International Fund for Agricultural Development (IFAD) was set up in 1977 as the 13th
      specialized agency of the UN. It is dedicated to eradicating poverty and hunger in rural areas of
      developing countries.
      Global Environment Facility
           The Global Environment Facility (GEF) operates as a mechanism for international
      cooperation for the purpose of providing new and additional grant and concessional funding to
      meet the agreed incremental costs of measures to achieve agreed global environmental benefits.
      GEF provides grants to eligible countries in its focal areas: biodiversity, climate change, land
      degradation, international waters, chemicals and waste. It also serves as financial mechanism for
      the Convention on Biological Diversity (CBD), United Nations Framework Convention on
      Climate Change (UNFCCC), Stockholm Convention on Persistent Organic Pollutants (POPs),
      UN Convention to Combat Desertification (UNCCD), Minamata Convention on Mercury and
      supports implementation of the Protocol in countries with economics in transition for the
      Montreal Protocol on Substances that Deplete the Ozone Layer (MP).
      Asian Development Bank
           India is a founding member of the Asian Development Bank (ADB) which was established
      in 1966. ADB has 67 members (including 48 regional and 19 non-regional members), with its
      headquarters at Manila, Philippines. India is holding 6.331 per cent of shares, totaling 6,72,030
      shares in ADB as on 31st December, 2016, with 5.363 per cent voting rights. The Bank is
      engaged in promoting economic and social progress of its developing member countries (DMCs)
      in the Asia Pacific Region. The main instruments that it uses to do this are making loans and