Regional development banks (RDBs) are multilateral financial institutions that provide financial and technical assistance for development in low- and middle-income countries. Finance is often allocated through low-interest loans and grants for a range of development sectors, including health and education, infrastructure, public administration, financial and private-sector development, agriculture, and environmental and natural resource management.
There are several RDBs around the world, including African Development Bank (AfDB), Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), and Inter-American Development Bank (IDB). These institutions disburse billions in funding to a wide variety of projects and employ thousands of people working across various sites in the region, as well as at representative and liaison offices globally.
‘I contribute to meaningful projects that improve lives and foster economic development’
For example, ADB, as well as providing project financing and cofinancing, has resolved to commit a core tranche to climate change financing. In 2023, the institution committed US$10.7bn in climate finance, of which US$6.2bn (57.4%) is expected to contribute to climate change mitigation and US$4.6bn (42.6%) to climate change adaptation. ADB did this with US$9.9bn of its own resources and US$883m mobilised externally.
Effectively disbursing this money is a key challenge for such banks, one that Osman Goni ACCA, a Bangladesh-based disbursement consultant at ADB with a background in audit, finds rewarding. ‘I contribute to meaningful projects that improve lives and foster economic development,’ he says.
‘From a career perspective, development banking offers exposure to diverse cultures, professional growth and continuous learning opportunities. The challenges — such as navigating complex regulatory environments – are balanced by the satisfaction of seeing the tangible impacts of your work.’
Career scope
These large organisations will be structured similarly to commercial banks, offering finance professionals many of the same roles and career paths: a head office CFO team and finance department with financial accountant, management accountant, internal auditor, compliance and governance, risk management and business partnering roles. There will be smaller finance departments in local offices, as well as project finance teams, and then more specialised roles such as in disbursement.
‘Disbursement specialists ensure that funds for development projects are disbursed accurately, efficiently, and in compliance with the bank’s policies and guidelines. The role involves validating and processing withdrawal applications, maintaining fiduciary oversight, and ensuring robust internal controls,’ says Goni.
‘The value lies in the assurance that resources are effectively utilised’
‘It’s a crucial link between the bank and project stakeholders, ensuring that funds are used as intended, mitigating risks of mismanagement, and facilitating the smooth execution of development initiatives. The value lies in the assurance that resources are effectively utilised, contributing to the success of projects and the bank’s mission.’
Disbursement specialists are responsible for reviewing withdrawal applications to ensure accuracy and compliance with a bank’s disbursement guidelines; liaising with executing and implementing agencies to address discrepancies and provide technical support; verifying Statements of Expenditure (SOE) transactions; preparing internal and external communications, including quarterly newsletters and translating technical materials; and acting as a bridge between headquarters and project stakeholders to resolve disbursement issues promptly.
Getting in and getting on
Goni’s background in audit and assurance makes him a good fit for disbursement. ‘It gave me a solid foundation in financial reporting, internal controls and risk management,’ he says.
Employers in this space value finance professionals who possess strong accounting and auditing skills, experience in working with international financial institutions or development projects, and skills in stakeholder engagement and compliance monitoring. ‘Qualifications like ACCA, combined with exposure to financial regulations, are particularly beneficial,’ says Goni.
Working in development banks opens doors to many career paths
Key technical skills employers look for include proficiency in financial management, regulatory compliance and data analysis, as well as familiarity with financial systems and enterprise resource planning (ERP) tools.
And given that the role requires working with various colleagues and stakeholders in a multicultural and dynamic environment, soft skills are vital, including teamwork, patience, adaptability and strong communication.
Furthermore, curiosity and an analytical mindset are key to help solving complex challenges, while stakeholder management ensures smooth collaboration across such diverse teams, adds Goni.
Looking to the future, working in development banks opens doors to many career paths, including leadership roles within international financial institutions, consulting opportunities and public sector positions.
‘It also equips professionals with a global perspective, making them attractive candidates for roles in policy advisory, strategic planning and sustainable finance,’ says Goni. ‘The network and experience gained are invaluable for long-term career advancement.’
More information
Visit the ACCA Careers website for news and advice on your next career move.
