The Inter-American Development Bank (IDB) completed last week a far-reaching public consultation related to its capital increase.
About 500 civil society organizations in the Americas and Europe participated in the consultation either through meetings with the IDB management or by submitting their recommendations through the Bank's public consultation page. The consultation process began on Sept. 8 and ended on Jan. 9.
During the period, the IDB’s management met with organizations in the United States, Europe and Latin America and the Caribbean. The IDB conducted face-to-face meetings in seven countries: Mexico, Peru, Colombia, Jamaica, Uruguay, France and the United States. The Bank also held video conference calls with organizations in Brazil, Paraguay, Guatemala and Costa Rica.
Civil society organizations provided inputs about the Bank’s future challenges, strategic priorities and how the Bank operates.
This was the first systematic and broad consultation the IDB, or any other multilateral development institution, has carried out during a capital increase review. The consultation, part of the Bank’s efforts to become a more effective and transparent development institution, will pave the way for the Bank to advance in its efforts to reduce inequality and promote economic growth that ensures environmental sustainability.
During the meetings, held with the IDB management late last year, participants unanimously supported the public consultation process and welcomed the initiative by the Bank to be more inclusive, participatory and transparent. The Bank’s management answered several questions about the Bank’s priorities and processes and participants expressed their opinions on how the Bank should prioritize its resources in the region. Suggestions ranged from increased support for the private sector to greater emphasis on urban development, community participation on projects and an expansion of poverty alleviation programs.
A final report about the results of the consultation process will be provided to the IDB governors for their consideration. Governors are expected to discuss a proposal for the ninth capital increase of the Bank during the IDB’s annual meeting in Cancun at the end of March.