November 7, 2008
Inter-American Development Bank named Best Multilateral by LatinFinance
LatinFinance, the leading source of financial market intelligence for the Latin American and the Caribbean, named the Inter-American Development Bank (IDB) as the best multilateral institution this year.
LatinFinance praised the bank’s efforts to finance the largest ongoing infra-structure projects in the region, highlighting the bank’s innovative lending instruments.
“The institution’s funding was as crucial as keeping tiny businesses afloat as it was to pushing through gigantic projects,” LatinFinance said in its November edition. “The leadership, ingenuity and raw sums of money it put in outshine other multilaterals in a banner year for the sector.”
The publication said the IDB’s decision to provide a $400 million loan to the Panama Canal and financing for Peru’s liquified natural gas projects are among the best examples of the bank’s important contribution to the region.