SDG #10 is to “Reduce inequality within and among countries.”
Within SDG #10 are 10 targets, of which we here focus on Target 10.6:
Ensure enhanced representation and voice for developing countries in decision-making in global international economic and financial institutions in order to deliver more effective, credible, accountable and legitimate institutions
Target 10.6 has one indicator:
Indicator 10.6.1: Proportion of members and voting rights of developing countries in international organizations
The equality in representation this target aims for is reflective of Article 2 of the UN Charter:
“The Organization is based on the principle of the sovereign equality of all its Members”
The international organisations used to measure this indicator for representation by LDCs are:
International Monetary Fund
World Bank Group
Previous targets within this series have mentioned many of these institutions. An exception are the regional development banks which offer investment in their regions. The two institutes mentioned under the umbrella of the World Bank are due to the World Bank Group consisting of five organisations. The Financial Stability Board serves a similar purpose to the Basel Committee mentioned in the previous target.
The proportion of member countries in these institutions as of 2022 are:
UN General Assembly; IMF & World Bank: 24%
UN Security Council: 6%, although the seats for non-permanent members rotates, so this figure has changed a couple times since 2015
UN Economic and Social Council: 13%
African Development Bank: 40%
Asian Development Bank: 16%
Inter-American Development Bank: only Haiti among 48 member countries
World Trade Organisation: 20%
Financial Stability Board: 0%
The share of LDCs by voting rights in these institutions are:
UN General Assembly: 24%
UN Security Council: 6%
UN Economic and Social Council: 13%
International Monetary Fund: 3%
World Bank Group
International Bank for Reconstruction and Development: 4%
International Finance Corporation: 2%
African Development Bank: 13%
Asian Development Bank: 4%
Inter-American Development Bank: 0.5%
World Trade Organisation: 20%
Financial Stability Board: 0%
