The German Federal Ministry for Economic Cooperation and Development (BMZ) develops the guidelines and the fundamental concepts on which German development policy is based. The BMZ’s main focus is on bilateral official development cooperation, i.e. direct cooperation with a partner country. This cooperation may take the form of loans on favourable terms, consultancy and training services, the promotion of private sector investment, grants and scholarships, but also emergency aid. The BMZ commissions the German implementing organisations with executing these projects and programs, and monitors the results of their work. The BMZ also manages Germany’s contributions at international level, including its shares in the World Bank and the regional development banks as well as its financial support for the different funds and programmes of the United Nations.