Development bank may be defined as a financial institution set up purposely to offer long term loans meant for development projects while commercial bank may be defined as a financial institution which carries out retail banking services, set up for keeping and lending money to people, owned by organisations, individual or governments, for the purpose of making profits.

Representative government, also known as indirect democracy, is defined as a government of elected representatives of the people. Those elected, through organised elections, rule on behalf of the people and with every assurance that their interests will be enhanced and protected.