Inter-American Development Bank

Inter-American Development Bank At A Glance

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The Inter-American Development Bank (IDB) is the largest development funding source for Latin America and the Caribbean, seeking to encourage economic development, social development and regional integration by lending to governments and government agencies, including state corporations.

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Established in 1959, the Inter-American Development Bank (IDB) is the largest development funding source for Latin America and the Caribbean, seeking to encourage economic development, social development and regional integration by lending to governments and government agencies, including state corporations. Consisting of 48 members, the IDB provides financing, technical assistance and knowledge services to support development interventions in 26 countries of those countries. The IDB emerged in response to a strong desire by Latin American countries for a bank that would be attentive to their needs, as well as U.S. concerns about the spread of communism in Latin America. Consequently, the IDB has tended to focus more on social projects than large infrastructure projects. The IDB has had both non-concessional and concessional lending windows. It has identified its priorities as reducing poverty and social inequalities; addressing the needs of small and vulnerable countries; fostering development through the private sector; addressing climate change, renewable energy and environmental sustainability; and promoting regional cooperation and integration. More than $230 billion in loans have been disbursed since its inception. The IDB Group broadly consists of the Fund for Special Operations (concessional window), the Inter-American Investment Corporation, and the Multilateral Investment Fund. The United States contributes nearly 30 percent of IDB funds annually, making it the top donor by a large margin. Finally, the IDB is one of the five multilateral development banks (MDBs); the remaining MDBs are the World Bank, the Asian Development Bank, the European Bank for Reconstruction and Development, and the African Development Bank.

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