【正文】 lance of payments than would IBRD loans. (3) IFC: The International Finance Corporation, it was established in 1956. Its function is to assist the economic development of lessdeveloped countries by promoting growth in the private sector of their economies ad helping to mobilize domestic and foreign capital for this purpose. (4) MIGA: Multilateral Investment Guarantee Agency, it was established in 1988, has a specialized mandate: to encourage equity investment and other direct investment flows to developing countries through the mitigation of nonmercial investment barriers. Advises developing member governments on the design and implementation of policies, programs, and sponsors a dialogue between the international business munity and host governments on investment issues. (5) IMF: The International Monetary Fund was created in December 1945 to oversee the functioning of the international monetary system. Any country accepting its rules and regulations is eligible for membership. (6) Gold tranche: That is the gold share paid by the member countries to IMF. The amount in gold amounts to 25%, and the rest of share (usually paid in their own currency) take up 75% of the total contribution. Due to international payment, the member nations in need of currencies of other nations can buy their needed amount of currency from the fund with their own currency. The share they can buy is determined by the gold amount of contribution. (1) Foreign Direct Investment: it is the major form of international investment, whereby residents of one country acquire assets in a foreign country for the purpose of controlling and managing them. (2) The green field strategy: Building new enterprises is often called “the green field strategy”. The firm builds new facilities on land bought or leased in a foreign country before starting its new operation. (3) Acquisition: Purchasing existing facilities is known as acquisition. This is a mon means of entering a new market. The assets of the acquired firm such as equipment, technology, employees, brand names and distribution networks are all there for use. (4) A joint venture: it is an independent business entity founded and owned by two or more partners called parents. The proportions of ownership between the partners may be equal or unequal depending on their respective investments that are mostly in the form of capital but may also be in land, equipment, or intellectual property. As a separate legal entity, the joint venture has a formal organizational structure, making this form of alliance more stable and broader in business scope. (1) The Stock Exchange: It has long served the needs of government, industry and investors in providing the central market place for the issue and trading of securities. (2) The International Stock Exchange: It exists to provide a channel through which these savings can reach those who need finance. (3) The list market: It is for wellestablished panies who must be able to ply with stringent criteria relating to all aspects of their operation. (4) The Unlisted Securities Market: It is a market created in 1980 to meet the needs of established, but smaller, less mature panies. (5) The Third Market: It is a new, disciplined market established in 1987and designed to enable young, growing UK panies to raise capital on a costeffective and straight forward basis. (6) The GiltEdged Market: one of the ways the government meets the Public Sector Borrowing Requirement is by selling giltedged stocks. Gilts are bought and sold in huge quantities, mainly by institutional investors. (7) Options: that is contracts giving the right to buy and sell a security at an agreed price within a particular period of time. (8) The Traded Options Market: It provides investors with the means to hedge or protect their positions in underlying securities by buying or selling an option. In addition to pany securities, options are also available on gilts, currencies and indices. (9) The Foreign Equities Market: Foreign equities which refer to securities listed on overseas exchanges have bee an increasingly important part of the business of securities firms whether or not these firms were members of the International Stock Exchange. (1) GATT: It was created in 1997 to provide a framework within which international negotiations are conducted toward creating global trade rules and a consultative mechanism for resolving differences and settling disputes under those rules. It also provides technical assistance to developing countries in the form of seminars and training courses on trade policy issues. But BATT is a permanent body. On January 1, 1995 the WTO was established to reply GATT as a permanent organization. (2) GSP: (The Generalized System of Preferences), it is meant to assist developing countries in their economic development efforts. It was established in 1968 after years of endeavors by developing countries in the UNCTAD and the GATT. Under the system, developed countries grant developing countries favorable lower tariffs without granting them to developed members. And the developing countries do not have to reciprocate such favorable treatment to the developed countries. (3) WTO: (the World trade Organization) On January 1st, 1995, the WTO was established to replay GATT as a permanent organization to which all the members of GATT automatically bee members. The organization’s aim is to facilitate creation of an optimal environment for international trade and farther strengthen the multilateral trading system by promoting free trade further reducing trade barriers and establishing more effective trade dispute settlement mechanism. (1) a new international economic order: in 1974, the UN general Assembly had drafted an action programme for the establishment of such a“new order” (which would give more consideration to the interests of the lessdeveloped countries). The new international economic order co