Inter-American Development Bank (IDB): What it is, How it Works

The Inter-American Development Bank (IDB) is a multilateral development bank whose mission is to promote economic and social development in Latin America and the Caribbean. It is the largest source of development financing for the region, and has provided more than $130 billion in loans, grants, and technical assistance since its founding in 1959.

The IDB is owned by its 48 member countries, which are represented on the bank's Board of Governors. The bank is headquartered in Washington, D.C., and has offices in 26 other countries in the region.

The IDB's lending operations are focused on four main areas:

• Promoting economic growth and competitiveness
• Improving social development
• Strengthening institutions and governance
• Addressing climate change

The bank also provides technical assistance to governments and businesses in the region, and supports regional initiatives to promote development.

The IDB is a respected institution that has played a significant role in the development of Latin America and the Caribbean. It is committed to working with its member countries to achieve sustainable and inclusive development in the region.

Here are some additional details about the IDB:

• The IDB is a member of the World Bank Group.
• The bank's president is Mauricio Claver-Carone, who was appointed in 2020.
• The IDB's total assets are over $160 billion.
• The bank employs over 3,000 people.

The IDB is an important player in the development of Latin America and the Caribbean. It is a source of financing for projects that promote economic growth and social development, and it provides technical assistance to governments and businesses in the region. The IDB is committed to working with its member countries to achieve sustainable and inclusive development.