types of assistance provided and the sources of their own capital and in-
vestment funds does not appear to be feasible because in many instances
both the nature of their assistance and the sources of funds shift from
time to time and their charters may provide for a rather wide range of
operations. In Appendix A, Table 1 we characterize the industrial devel-
opment banks responding to our questionnaire on the basis of a) owner-
ship, b) predominant form of financial assistance offered, and c) im-
portance of foreign sources of funds, according to the latest available
information.

No definitive list of industrial development banks in less developed
countries has been compiled, but the number of institutions that call
themselves development banks or corporations is probably in excess of
125. ² As of 1964, we estimate the number of industrial development banks
that meet the requirements of our definition as ranging between 80 and
100. On the basis of the reports of the major external public lending
agencies, including the Agency for International Development, the World
Bank Group (including the International Finance Corporation and the
International Development Association), the Inter-American Develop-
ment Bank (IDB), and the Export-Import Bank, over 75 of these institu-
tions have received financial assistance from external public lending
agencies. A survey of the operations of European and other foreign as-
sistance agencies would undoubtedly reveal the existence of additional
industrial development banks receiving external public assistance. In
addition, a growing number of industrial development banks are receiv-
ing private external assistance in the form of loans or equity participa-
tion. External private foreign investment is frequently induced by and
closely related to assistance provided by public external lending agencies.

The major sources of external public funds for industrial development
banks have been the World Bank Group ( IBRD, IDA, and IFC), AID
and its predecessor agencies, the Inter-American Development Bank, and
the Export-Import Bank of Washington ( Eximbank). The first three
agencies have also provided technical assistance for the formation and
operation of such institutions. On a smaller scale, assistance to industrial
development banks has been provided by the United Kingdom Common-
wealth Development Corporation and the Caisse Centrale de Cooperation
Economique of France. Total amounts of financial assistance by agencies
to industrial development banks can only be roughly estimated, partly be-
cause the figures given by agencies on their loans to intermediate credit
institutions are not broken down by category, and partly because a num-
ber of intermediate credit institutions make loans to industry, agriculture,
public utilities, and other economic sectors. In fact some external public
loans to development banks are employed for both industrial and agricul-

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