Inter-American Development Bank

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Inter-American Development Bank

Also called the IADB. A bank that provides funds to assist international development in Latin America and the Caribbean. It primarily loans money to governments and state-owned corporations. It is owned by 48 country-shareholders, which are divided into borrower countries and creditor countries. Interestingly, borrower countries own a slight majority of shares in the IADB. It was established in 1959 and is headquartered in Washington, D.C.
References in periodicals archive ?
Following World War II, the Gold War created tensions and divisions that often sent the IADB and the OAS on divergent paths, Tomic said.
In 2002, the OAS General Assembly instructed the Permanent Council to begin seeking consensus on the role of the IADB and its relationship with the OAS, keeping in mind the principles of civilian oversight and the "democratic formation of its authorities.
Tomic, who brought the negotiations to a successful conclusion as Chairman of the Permanent Council's Committee on Hemispheric Security, stressed that the statutes fully meet the requirements for democratic, civilian control of both the IADB and its Inter-American Defense College.