International financial institutions

International financial institutions are organizations active on international level, providing loans to the states. The states are mainly indebted to the IFIs then to other individual governments. Key “players” are global institutions such as the IMF (International Monetary Fund) and the World Bank, but also national agencies and private financial institutions working on a global level.

The International Financial Institutions have funds consisting of the member states’ investments in the institution. Mainly IFIs receive funds from the USA, France, Japan (depending of the IFI). The larger the investment is, the greater the possibility for decision making in the IFI. Macedonia for example has only 0,07% contribution within the European Bank for Reconstruction and Development (EBRD) and a very low possibility of influencing decisions made in the institution.

Eco-sense works in order:

- To create public awareness about International Financial Institutions activities in Macedonia and their social and environmental impacts,
- Тo promote public participation in the decision making process about policies and projects of International Financial Institutions, on the local, national and regional levels.
- To change or stop environmentally and socially destructive policies and projects of International Financial Institutions in Macedonia, and promote alternatives.

Eco-sense is a member of the CEE Bankwatch Network and the membership in this network enables us to carry out the aims of our work.