Consortia - Consortia since world war ii

International banking consortia, involving in particular American banks based in New York, continued to be engaged in financing projects in developing countries, especially in Latin America, where they became dangerously overexposed in the 1970s and 1980s. After World War II, however, the U.S. government, specifically its Agency for International Development (AID), and international organizations, specifically the International Bank for Reconstruction and Development (World Bank), became major sources of loans. Both AID and the World Bank, in which U.S. influence has generally prevailed, have served American foreign policy interests far more effectively than did the private bankers of the prewar era.