Environmentally Sustainable Economic Growth

The Inter-American Development Bank (IDB), the oldest and largest regional multilateral development institution, was established in 1959 to help accelerate the process of economic and social development in Latin America and the Caribbean.

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The IADB Building 1300 New York Avenue in Washington DC

The Bank’s two main goals are to promote poverty reduction and social equity as well as environmentally sustainable economic growth throughout the

region. The IDB also conducts research on development and economic and social issues and provides policy advice to its member governments.

In 2007 the IDB approved US$9.6 billion in financing for projects in areas such as renewable energy, sanitation, transportation infrastructure, microcredit and social safety nets.

The Bank’s membership totals 47 nations, including 26 Latin American and Caribbean countries, the United States, Canada, and 19 nonregional countries. It provides loans, grants, guarantees and technical assistance to the public and private sectors in its borrowing member countries. It is the only major multilateral financial organization for the region that has country offices and technical staff in all of its borrowing member countries.

The IDB Group includes the Inter-American Investment Corporation (IIC), an autonomous affiliate that promotes economic development by financing small and medium-sized private enterprises, and the Multilateral Investment Fund (MIF), which supports micro- and small-enterprise development and market reform.

In carrying out its mission, the Bank has approved over $156 billion in loans and guarantees to finance projects with investments totaling $353 billion, as well as $2.4 billion in grants and technical cooperation financing. The Bank’s operations cover the entire spectrum of economic and social development, with an emphasis on programs that benefit low-income populations. The IDB also lends up to 10 percent of its Ordinary Capital resources directly to the private sector, without government guarantees.

In preparation for celebrating its 50th anniversary in 2009, the IDB is adjusting its operations and refocusing its priorities to meet the evolving needs of its members. The Bank has expanded its presence in the field, adopted a faster and more flexible lending structure, and broadened its product mix to include loans to subnational governments and projects without sovereign guarantees.

The IDB also maintains a close relationship with the fast-growing Hispanic and Caribbean communities in the District of Columbia, where it is headquartered. The IDB-DC Solidarity Program builds strategic partnerships with local community-based organizations to promote development initiatives aimed largely at low-income communities, with emphasis on education, health and economic development. It provides grants, volunteers, equipment donations and technical assistance. Since its creation in 1998, the program has disbursed more than $2,300,000 in grants.

www IADB.org

Electric Development Program. Hydroelectric plant (177MW) Program to enhance distribution, transmission and energy saving/energy conservation

Luis Alberto Moreno, President of Inter-American Development Bank

Inter-American Development Bank education project in Haiti (images courtesy of IDB)