Once it was the IMF.

The IMF was a U.S. and EU creation.

It did good things when it stepped in to save nations who misspent their money and owed such amounts that they could not pay. However, the IMF was notorious for imposing such rigour and discipline on such countries for its loans that such debtor nations were duly humiliated.

People normally do not like being humiliated.

Now there is New Development Bank:

http://www.theguardian.com/world/2014/jul/14/shanghai-brics-development-bank-headquarters-favourite

to compete with the IMF.

It will be interesting to see how it performs