Download this Paper Open PDF in Browser

The Prospects and Problems of an IGAD Regional Development Bank

96 Pages Posted: 18 Jul 2016  

Bryane Michael

University of Hong Kong Faculty of Law; University of Oxford

Date Written: June 25, 2016

Abstract

A multilateral development finance institution for the Inter-Governmental Authority on Development (IGAD) region represents the chance to create a strong pro-developmental actor – and energize the IGAD itself. Yet, the IGAD senior officials will need to look beyond the traditional development banking model if they hope to make an impact of the scale needed to drag these poorest of countries out of their poverty. In this paper, we argue for the design of a development bank modelled after successful role models – like the China Development Bank – instead of proven failures. A mix of government and private sector participation, a widely disbursed capital base, and a temporary base in London, will help ensure the proposed IGAD Communities Development Bank acts as bridge and vector of pro-developmental capitalism in the IGAD region.

Keywords: IGAD, Inter-Governmental Authority on Development, Multilateral Development Banks, China Development Bank, mixed model development

JEL Classification: O19, F63, N17

Suggested Citation

Michael, Bryane, The Prospects and Problems of an IGAD Regional Development Bank (June 25, 2016). Available at SSRN: https://ssrn.com/abstract=2790661 or http://dx.doi.org/10.2139/ssrn.2790661

Bryane Michael (Contact Author)

University of Hong Kong Faculty of Law ( email )

Pokfulam Road
Hong Kong, Pokfulam HK
China

HOME PAGE: http://web.hku.hk/~bmichael/

University of Oxford ( email )

South Parks Road
Oxford, Oxfordshire OX1 3QY
United Kingdom

HOME PAGE: http://users.ox.ac.uk/~scat1663/

Paper statistics

Downloads
42
Abstract Views
442