The Inter-American Development Bank (IDB) published today on its Web site the report that provides the strategic direction for the Bank over the next decade.
The Report on the Ninth General Increase in the Resources of the Inter-American Development Bank establishes the IDB’s strategic priorities, institutional reforms and accountability for results related to the Bank’s capital increase.
The report also details the financial terms and conditions to implement the general capital increase.
Following a 60-day vote, on July 21st the Board of Governors of the IDB approved the report and offered broad support for the financial terms for a $70 billion increase of the Bank’s ordinary capital. This would be the largest expansion of resources in the IDB’s history and would allow the Bank to expand its efforts to reduce poverty and inequality in the region, provide a higher level of support for small and vulnerable countries, and deliver an unprecedented level of support for Haiti.