Trust funds are critical to the effectiveness of IDB programs for sustainable and equitable development in the Latin America and Caribbean (LAC) region. Over the past years, the IDB’s grant financing program has greatly expanded its contribution to the social and economic development in Latin America and the Caribbean. Hundreds of new grant financing projects have opened the way for innovative approaches to improve quality of life, promote education as the basis for social development, bring water and sanitation, build infrastructure, create opportunities for the majority and strengthen institutions needed by successful, modern societies. Others have promoted new initiatives such as ameliorating and adapting to climate change. These projects have introduced the IDB and its partners to new constituencies and new beneficiaries, and many lay the groundwork for large-scale Bank investment programs.
In large measure, this expansion is owed to strong backing from donor countries, which have increased their support for existing IDB trust funds and established new funds, multi-donor and single funds, to meet emerging needs of the countries in the region. Donor trust funds at the IDB are a critical source not only of grant financing for technical cooperation and investment grants, but also of know-how, expertise, and transfer of knowledge. Donors also provide project specific grants and investment grants as additional sources of grant financing at the IDB. Our donor priorities are aligned with the priority needs in our region. During 2000-2009, trust funds contributed approximately US$344 million in grant financing for LAC countries. Working together with our partners, we make a difference in improving the lives of people in Latin America and the Caribbean and we look forward to a continued partnership.
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