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 ?
As part of the sanctions, Odebrecht commits to make a total contribution of US$50 million, starting in 2024, directly to NGOs and charities managing social projects with the purpose of improving the quality of life of vulnerable communities in the IDB's developing member countries.
In addition, the IDB said graduates of bootcamps are 'very well received by employers.'
Recognizing the difficulties that governments face in obtaining the funds needed to achieve the UN Sustainable Development Goals, the updated strategy seeks to increase the mobilization of resources from new sources, such as private pension funds, in order to leverage IDB loans.
The IDB provided $357.6 million in financing for the construction of Neelum-Jhelum power project.
He said that IDB feels honoured to be a leading partner in development of this engineering marvel, according to WAPDA's media wing sources.
Burana, being an ex-employee of the IDB Group where he worked as a senior investment specialist, asked the IDB president to expand the role of the bank in Pakistan.
The IDB president showed keen interest in financing hydropower projects and congratulated the Wapda chairman on Neelum Jhelum Hydropower Project landmark achievement of generating 1,040 MW beyond its installed capacity of 969 MW.
IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to supporting Latin America and the Caribbean businesses.
Mahmoud Mohieldin, World Bank senior vice president on sustainable development goals, said: "One of the advantages that the IDB has in using Islamic finance is localization.
HE Obaid Humaid Al Tayer stressed the importance of UAE's participation in the annual meetings of IDB Group as it offers a platform to discuss financial and economic plans and develop future strategies in order to achieve and support the sustainable economic development and reduce poverty and unemployment in all IDB member countries and the Islamic world.
Iranian legislators, in an open session of the parliament, approved a bill that would surge the country's share of the Islamic Development Bank (IDB) from its current 1.48 up to 4.17 billion Islamic Dinars (IDB unit of account) in future.
The IDB Fund II, launched on the 40th anniversary of the IDB, is the largest private equity infrastructure fund dedicated to the 57 member-countries of the IDB.