International Financial Corporation (IFC) is an international financial institution that offers advisory services to build up private sector in developing countries. It is head quartered at Washington DC. It was established in the year 1956. There are 184 countries in the membership list. It aims at lifting the standard of people of developing and least developed countries by removing poverty, improving education and healthcare, investing in infrastructure development and sustainable agricultural opportunities therein.

International Development Association (IDA) was set up in 1960. It provides term loans to member countries at concessional terms and conditions for their economic. development. It creates supplementary sources of credit for member countries. It assists in poverty alleviation programme of least developed countries. It provides support for health, education, infrastructure, agriculture, human resources development of developing and least developed countries.

(i) Agreement forming part of GATT:
GATT is an important part of WTO agreements. It includes special agreement evolved to deal with non-tariff barriers.
(ii) Agreement on textile and clothing:
This agreement was evolved to eliminate quota restrictions imposed by developing countries on the export of textiles and clothing by them. It helps mainly developing countries to expand their textile and clothing export.
(iii) Agreement of agriculture (AOA):
This agreement was made to ensure free and fair trade in agriculture. This agreement made the developed countries reduce customs duties on their imports and subsidies on the export of agricultural products. But developing countries were exempted from making reciprocal offer keeping in view of high dependence of these countries on agriculture.
(iv) General agreement on trade in services:
Under this agreement, all member countries were required to remove restrictions on trade in. services in a phased manner. It provides that trade in service is governed by the principle of most favoured nation obligation. In other words countries have to award business contract on the basis of merit of service suppliers and on the basis of nationality status of service provider. It prevents the countries from discriminating between foreign service provider and local service provider. This agreement requires all the member countries to publish their laws relating to trade in service.
(v) Agreement on Trade Related aspects of Intellectual Property Rights (TRIPS):
This agreement sets out seven minimum standards of protection to be accepted by parties in respect of seven intellectual properties namely, copyright, trademark, geographical indication, industrial design, patent, layout design of integrated circuits and undisclosed information.

(i) Trade without Discrimination-Most Favoured Nation-Treating other people Equally.
(ii) Free Trade-Gradually through Negotiation.
(iii) Predictability through binding and Transparency.
(iv) Promoting Fair Competition.

(i) Promoting international monetary cooperation.
(ii) Ensuring balanced international trade.
(iii) Ensuring exchange rate stability.
(iv) Eliminating or minimizing exchange restrictions by promoting multilateral payment.
(v) Providing economic assistance to member countries for correcting imbalance in balance of payments of countries.
(vi) Minimizing imbalance in quantum and duration of balance of payment.

This is one of International Financial Institutions offering political risk insurance and credit enhancement guarantees. The guarantee provided by this institution protects. foreign direct investments against the political and non-commercial risks in developing countries It is head quartered at Washington. It promotes flow of foreign direct investment (FDI) into developing countries.

This agreement sets out seven minimum standards of protection to be accepted by parties in respect of seven intellectual properties namely, copyright, trademark, geographical indication, industrial design, patent, layout design of integrated circuits and undisclosed information.

The following are the objectives of SAARC:
(i) Promoting the welfare of people of Asia.
(ii) Achieving economic growth, social programme and cultural development in member countries.
(iii) Strengthening self-reliance among the members.
(iv) Strengthening co-operation among the members as well as with other developing countries and international and regional organisation.
(v) Maintaining peace among the member of nations in the region.

Functions of SAARC are highlighted:
(i) Monitoring and co-ordinating the development programmes.
(ii) Determining inter-sectoral priorities.
(iii) Mobilizing co-operation within and outside the region.
(iv) Dealing with modalities of financing.