Inter-American Development Bank
The Inter-American Development Bank (IDB) Group, comprising the IDB, IDB Invest, and IDB Lab, supports sustainable development in Latin America and the Caribbean through financing, technical cooperation, and partnerships.
Services
The Inter-American Development Bank (IDB) offers a range of services primarily aimed at fostering development in Latin America and the Caribbean. These services include financing solutions, such as investment loans, policy-based loans, and special development loans, specifically designed for public sector projects. Additionally, the IDB provides technical cooperation programs focused on institutional strengthening, knowledge transfer, and sectoral studies. The IDB Group also engages in financial inclusion initiatives like FINLAC to promote access to financial services for vulnerable populations. Furthermore, IDB Lab invests in projects like telemedicine in Ecuador to enhance healthcare access in underserved areas.
Members
The IDB comprises 48 member countries, encompassing 26 borrowing members in Latin America and the Caribbean as well as 22 non-borrowing members from Asia, Europe, and North America. This diverse membership allows the IDB to pool resources from a wide geographical spectrum to support developmental initiatives and projects across different regions.
Funding and Financial Capacity
In 2023, the IDB financed and mobilized $13.5 billion, with the total for the IDB Group reaching nearly $24.3 billion. This significant financial capacity allows the IDB to support a broad array of development projects across Latin America and the Caribbean. Their robust processes and internal systems, coupled with a culture focused on impact and meritocracy, underpin their ability to manage extensive funding efficiently.
Core Objectives
The IDB's Institutional Strategy centers on three primary objectives: reducing poverty and inequality, addressing climate change, and bolstering sustainable growth. These core objectives guide the IDB’s activities and initiatives, ensuring that their projects align with broader developmental goals. The IDB also has a strong emphasis on climate action, including efforts to safeguard the Amazon, curb emissions, and preserve biodiversity.
Transparency and Accountability
The IDB maintains a comprehensive approach to transparency and accountability. They utilize mechanisms for public consultation and independent evaluation to ensure that their operations are transparent and open to scrutiny. The Development Effectiveness Framework (DEF) forms the backbone of their project evaluation architecture, providing a systematic approach to self-reporting project results. This framework demonstrates the IDB's commitment to measuring and sharing the impact and effectiveness of their projects.