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Americas - Institutions
Inter-American Development Bank IDB / Banco Interamericano de Desarrollo.
The IDB was
founded in 1959 as a partnership between 19 Latin American countries and the
United States. Today the IDB is owned by 47 member states, of which 26 are
borrowing members in Latin America and the Caribbean.
Each member country's
voting power is based on its subscription to the institution's Ordinary
Capital (OC) resources. Is the main source of multilateral financing for
economic, social and institutional development in Latin America and the
Caribbean.
The IDB Group is composed of the IDB, the Inter-American
Investment Corporation (IIC) and the Multilateral Investment Fund (MIF). The
IIC focuses on support for small and medium-sized businesses, while the MIF
promotes private sector growth through grants and investments.
The Inter-American Development Bank helps foster sustainable economic
and social development in Latin America and the Caribbean through its lending
operations, leadership in regional initiatives, Research and knowledge
dissemination activities, institutes and programs.
The Bank assists its Latin American and Caribbean borrowing member countries in
formulating development policies and provides financing and technical assistance
to achieve environmentally sustainable economic growth and increase
competitiveness, enhance social equity and fight poverty, modernize the state,
and foster free trade and regional integration.
By the end of 2007, the Bank had approved over $156 billion in loans and
guarantees to finance projects with ininvestments totaling $353 billion, as well
as $2.4 billion in grants and contingent-recovery technical cooperation
financing..
Public entities eligible to borrow from the Bank include national, provincial,
state and municipal governments, and autonomous public institutions. Civil
society organizations and private companies are also eligible.
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