Inter-American Development Bank

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Inter-American Development Bank

Summary of Inter-American Development Bank

A multinational development bank established in 1959 to promote economic and social development in Latin American member countries.

The bank is owned by its forty-three member countries, of which twenty-seven are regional, i.e., Western Hemisphere nations; the sixteen non- regional members were admitted in 1976. The bank’s charter provides that the Latin American nations shall as a group be preserved as majority shareholders.

During the 1961-80 period, the bank channeled $66 billion to aid development projects. The principal vehicles used by the bank to aid Latin American development are direct loans to specific development projects; the financing of industrial and agricultural credit programs; and equity financing through loans to permit capital participation in Latin American enterprises.

In addition to conventional financing activities, the bank operates the Fund for Special Operations which makes long-term, concessional loans to needier countries for such fundamental needs as potable water, sanitation, and rural health projects. As of 1980, this fund had extended loans for $7.2 billion.

In 1961 the Social Progress Trust Fund was established to administer $525 million advanced by the United States to promote low-cost housing, land use, and sewage treatment. In 1975 the Venezuelan Trust Fund was established to administer $500 million advanced by Venezuela to promote development of nonrenewable natural resources and hydroelectric energy. Similar special-purpose trusts have been administered over the years.

Bank financing is available to member states in Latin America, political subdivisions of such states, and private enterprise; where a private entity receives financing, a governmental entity must serve as guarantor.

The bank is governed by a board of governors; one governor and an alternate are chosen by each member state. The board elects a president, who administers the affairs of the bank.

The bank was capitalized originally with $1 billion; this capital was augmented, or replenished, in 1964, 1967, 1970, 1976, and 1980; a sixth replenishment, covering the years 1983-86, totalling $15.7 billion, was adopted in 1983.

(Main Author: William J. Miller)

Inter-American Development Bank Outline

The bank was established in 1960 as a regional bank for promoting regional development. Its headquarters are in Washington, DC. Now it consists of both regional and non-regional members. For example, Japan, Germany, France, Spain, Italy, the United Kingdom, Norway, Sweden, Switzerland and the Vatican are members of the IDB. The bank provides lending facilities for its members(1)

Inter-american Development Bank

Embracing mainstream international law, this section on inter-american development bank explores the context, history and effect of the area of the law covered here.

Resources

See Also

  • World Bank
  • Bank Regulation
  • History of Banking
  • Functions of the World Bank

Resources

Further Reading

  • The entry “inter-american development bank” in the Parry and Grant Encyclopaedic Dictionary of International Law (currently, the Encyclopaedic Dictionary of International Law, 2009), Oxford University Press

Resources

Notes

  1. John Mo, International Commercial Law

Hierarchical Display of Inter-American Development Bank

International Organisations > Extra-European organisations > Latin American organisation
Finance > Financial institutions and credit > Financial institution > Bank > Development bank

Inter-American Development Bank

Concept of Inter-American Development Bank

See the dictionary definition of Inter-American Development Bank.

Characteristics of Inter-American Development Bank

Resources

Translation of Inter-American Development Bank

Thesaurus of Inter-American Development Bank

International Organisations > Extra-European organisations > Latin American organisation > Inter-American Development Bank
Finance > Financial institutions and credit > Financial institution > Bank > Development bank > Inter-American Development Bank

See also

  • IDB

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