International Development Finance Club (IDFC) is an association of like-minded development banks. It has a distinct legal personality, yet membership carries no legally binding obligations, other than those expressly foreseen in the IDFC Charter. Members operate within the framework of development policies of their respective countries and assist their respective governments in fulfilling their national and international commitments, and within the framework set forth by their constitutive documents.
Streamlined for success
The organizational structure of the IDFC has been kept simple and lean on purpose. In this way, we can better focus our efforts on our mission, and achieve our goals, without exhausting valuable resources.
The Annual Meeting is a meeting of all Members of the Club, each represented by its CEO or designated representative. The Annual Meeting convenes on the occasion of the annual meetings of IMF and IBRD, and decides (inter alia) on:
- Any modification of the Charter
- The admission and exclusion of a Member
- The appointment and the removal of the Chairperson and the Vice-Chairpersons
- The determination of the powers and authority of the Chairperson and the Vice-Chairpersons
- The determination of the power and authority of the Steering Group
- The annual work program of the Club
- The execution of specific projects of the Club sponsored by the Members or any other material business or subject
- The passing of declarations on subjects of mutual interest
- The dissolution of the Club
The Steering Group is comprised of the Chairperson and the Vice-Chairpersons. It is elected from among the Members for two-year periods and is responsible for preparation and follow-up of the Annual Meeting and any other business. It convenes at least twice annually.
The Secretariat is appointed by the Chairperson and is hosted and funded by the Member whose CEO is the Chairperson. The Secretariat is responsible for communication on behalf of the Club upon request of the Steering Group. The Secretariat organizes and administers the work of the Club and coordinates the implementation of decisions made at the Annual Meeting.
Sherpas are appointed by each Member to serve as transmitter contacts between the Secretariat and the Member institutions. They are responsible for all communication and exchange with the Secretariat.
Working Groups are appointed by the Annual Meeting on an ad-hoc basis to research and prepare specific topics that currently engage the Club and to develop relevant information and documentation.