Statement on Capital Increase for IDB Invest
WASHINGTON - The Inter-American Development Bank (IDB) is proud of the support we have received over the past year from our member countries, and we welcome the announcement from United States President Joe Biden regarding a capital increase for IDB Invest, our private-sector entity.
This reaffirms the important role that the IDB Group will continue to play as the partner of choice for Latin America and the Caribbean in addressing its financing needs to ensure a more transparent, prosperous economic future for all. In March of this year, the IDB’s Governors approved a roadmap for a capital-increase proposal for IDB Invest and unanimously supported our proposals for institutional reforms to improve efficiency, enhance stakeholder engagement, and ensure a whole-of-institution response to help countries reduce poverty, create jobs, and create a more equitable region for women.
The IDB is particularly excited for the bipartisan support that it has received, including the historic backing in the U.S. Congress —a first for our institution— and look forward to working with all stakeholders toward a capital increase that will support the region in advancing transparency, overcoming endemic challenges and the ongoing crises stemming from COVID-19 and Russia’s war in Ukraine.
About the IDB
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social, and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance, and training to public and private sector clients throughout the region. Take our virtual tour.
About IDB Invest
IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $14.8 billion in assets under management and 376 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.