Agency for International economic cooperation-International economic cooperation institution is an institution that involves the countries of the world. The institutions of economic cooperation that once existed are as follows:
1. Consultative Group on Indonesia (CGI)
CGI’s existence to an end in 2007. CGI is the giver of aid agencies development funds for Indonesia. The Institute was created in 1992 to replace the Inter Governmental Group on Indonesia or in the short CGI.
CGI, chaired by the World Bank of its members consist of the United States, Japan, Australia, Belgium, Italy, Germany, United Kingdom, Canada and France.
2. World Trade Organization (WTO)
The goal of the World Trade Organization WTO abbreviated to create a smooth international trade. The WTO was formed as a successor to the General Agreement and In Trade (GATT). The WTO was established on 15 April 1995 in Marrakech, Morocco.
3. Organization of Petroleum Exporting Countries (OPEC)
OPEC was created on November 14, 1960. The goal of OPEC held production and distribution arrangements between Member States in order that the world oil prices stable.
4. Islamic Development Bank (IDB)
The main purpose of the IDB to assist and promote the field of economic and social development in Islamic countries. IDB loan to provide assistance with mild terms to the Member States and Islamic communities. IDB was founded on April 23, 1975.
5. International Monetary Fund (IMF)
The IMF was formed when the lasting international conference at Bretton Woods. New Hampshire in 1944. The establishment of the above proposals of Lord Keynes and Harry White.
The main objective of the IMF is to provide funds to pay foreign credit and keep the stability of the exchange rate. The IMF began its activities on 1 March 1947. The IMF currently consists of 44 countries. The IMF’S headquarters in Washington DC, United States.
6. International Bank of Reconstruction and Development (IBRD)
IBRD was established on 27 December 1945. Activity centers located in Washington DC, United States. The purpose of IBRD help development countries after World War II. IBRD also assist socio-economic progress of developing countries.