DEVELOPMENT BANK Meaning and
Definition
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A development bank is a financial institution that primarily aims to provide financial support and assistance for long-term economic development projects of a country or a region. These banks are usually established and operated by governments, international organizations, or regional entities and promote sustainable economic growth by providing developmental and investment loans.
Development banks play a crucial role in funding projects that are unable to secure private sector capital due to their high risks or long gestation periods. They mobilize financial resources from various sources, such as issuing bonds, accepting deposits, and obtaining loans from international financial markets, in order to provide loans and credit facilities to support development initiatives. These initiatives can include infrastructure projects, social development projects, renewable energy projects, and small and medium-sized enterprises.
In addition to providing financial support, development banks also offer technical expertise and advisory services to help governments and organizations plan, structure, and implement development projects. They often collaborate with other stakeholders, including government agencies, private sector institutions, and international organizations, to maximize the impact and effectiveness of their initiatives.
The core objective of a development bank is to promote sustainable economic growth, reduce poverty, and improve living standards by channeling funds towards productive investments. They prioritize projects that have a positive impact on the economy, environment, and society, as well as projects that create employment opportunities, enhance infrastructure, and promote social inclusiveness.
Development banks have become essential actors in the global landscape, supporting countries and regions in their efforts to achieve long-term economic development and meet sustainable development goals.
Common Misspellings for DEVELOPMENT BANK
- sevelopment bank
- xevelopment bank
- cevelopment bank
- fevelopment bank
- revelopment bank
- eevelopment bank
- dwvelopment bank
- dsvelopment bank
- ddvelopment bank
- drvelopment bank
- d4velopment bank
- d3velopment bank
- decelopment bank
- debelopment bank
- degelopment bank
- defelopment bank
- devwlopment bank
- devslopment bank
- devdlopment bank
- devrlopment bank
Etymology of DEVELOPMENT BANK
The word "development bank" is a combination of two separate words: "development" and "bank".
The term "development" originated from the Middle French word "developper", which means "to unwrap" or "to unfold". It was derived from the Latin word "developare", which has a similar meaning of "to unwrap" or "to unveil". In the context of a development bank, the word "development" refers to progress, growth, and improvement.
The word "bank" originated from the Old Italian word "banca", which means "bench" or "counter". This term was used to refer to a bench or a counter on which moneylenders and merchants conducted their business. Over time, it started to be associated with the business of lending money and handling financial transactions.
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