March 10, 2002

CANADA , IDB SIGN COOPERATION FRAMEWORK AGREEMENT

FORTALEZA, Brazil –Canada and the Inter-American Development Bank today signed a cooperation framework agreement under which they will intensify their collaboration in support of development projects and programs in IDB borrowing member countries.

The agreement was signed by Canada’s Minister for International Cooperation, the Hon. Susan Whelan, and IDB President Enrique V. Iglesias at a ceremony held on the eve of the 43rd annual meeting of the Bank’s Board of Governors.

In the agreement, Canada stated that it wished to make available funds for financing IDB projects of high priority for the Canadian Intenational Development Agency’s assistance programs. All funding furnished by Canada will be provided on a contribution or grant basis and is conditional to annual budgetary approval by the Canadian Parliament.

Canadian funds, which will be administered by the IDB, will be made available for cofinancing, technical assistance and parallel financing of projects. CIDA and the IDB will hold consultations from time to time on matters relating to the framework agreement and other issues.