Washington, D.C., July 2, 2019 - The Inter-American Development Bank (IDB) has updated its Strategy for the Strengthening and Use of Country Systems. The original Strategy, developed in 2009, was in response to the IDB and other donors’ agreements made as part of the Paris Declaration (2005) and later the Accra Agenda for Action (2008), to strengthen and later rely on borrowing member countries’ systems, in relation to the execution of IDB-financed projects. These include a country’s fiduciary (public financial management and procurement) and non-fiduciary (environmental and social safeguards, and development effectiveness) systems.
This update to the original strategy document (the Strategy) gathers the lessons learned from the first ten years of implementation, and aims to modernize its approach to addressing the new challenges in the Latin America and Caribbean (LAC) Region, promoting the use of technology and innovation, increasing resource mobilization, and strengthening the IDB’s work in cross-cutting issues, in line with its own Institutional Strategy for Improving Lives in the LAC Region. It also standardizes its processes for strengthening and relying on (“using”) both country fiduciary and non-fiduciary systems.
The updated Strategy maintains as its guiding principles the promotion of ongoing dialogue, coordination and collaboration with borrowing member countries and other development partners, as well as the adoption and implementation of good practices and international standards, with an emphasis on institutional capacity strengthening, the Rule of Law, transparency and integrity, and closing the gaps in terms of gender and diversity, climate change and environmental sustainability.
The updated Strategy is effective immediately.
About the IDB
The Inter-American Development Bank’s mission is to improve lives. Founded in 1959, the IDB is one of the main sources of long-term financing for the economic, social and institutional development of Latin America and the Caribbean. The IDB also conducts cutting-edge research projects, and provides policy advice, technical assistance and training to public and private clients throughout the Region.