Conclusion Our report has refined the qualification criteria of PDBs and DFIs in the inaugural New Structural Economics Development Financing Research Report by INSE. The five refined qualification criteria are: (1) a stand-alone entity; (2) fund-reflow-seeking financial instruments as the main products and services; (3) funding sources go beyond periodic budgetary transfers; (4) proactive public policy-oriented mandate; and (5) government steering of corporate strategies. This analysis of the qualification criteria enables us to grasp the core features of PDBs and DFIs, as distinct from similar institutional arrangements such as aid agencies, government credit programs, and state-owned commercial banks with policy functions. We then take a step further to classify PDBs and DFIs by ownership structure (who owns them), geographical operation (where they operate), asset size (how big their total assets are), official mandate (what they aim to do), and income levels of their home countries (for national PDBs and DFIs, which income level their home country belongs to). This helps us to grasp the vast diversity within the PDB and DFI family. Moving forward, we will periodically apply the five qualification criteria to identify PDBs and DFIs worldwide, and update the list to incorporate new ones and delete those that have been commercialized or abolished. Meanwhile, we plan to use diverse data collection methodologies—including manual data collection, machine learning, and expert verification— to collect and triangulate the publicly available quantitative variables such as financial indicators. We hope that our persistent effort to build the database will lay the foundation for rigorous academic and policy research in the future.
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