News Releases

Oct 6, 2016

Committees of the Boards of Governors of IDB and IIC back advancing towards MIF replenishment

The Boards of Governors of the Inter-American Development Bank (IDB) and the Inter-American Investment Corporation (IIC) met in Washington DC today to discuss a report on the strategic vision and future financing of the Multilateral Investment Fund (MIF). The IDB and IIC Governors requested the preparation of this report during their Annual Meeting held in March in The Bahamas.

The Multilateral Investment Fund is an innovation lab for the IDB Group to promote development through the private sector in Latin America and the Caribbean.

Specifically, the Committees of the Boards of Governors expressed their support to the proposed strategic guidelines and recognized the need for a $300 million resource replenishment to finance activities during the 2019-2023 period. These resources will help sustain the current level of business, funding a $85 million operations program for the countries in the region.

The Governors also agreed to continue to move ahead with donors’ replenishment negotiations so they can be included in the IDB and IIC Annual Meetings to be held late March 2017 in Asuncion, Paraguay.

About the IDB

The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.

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