Inter-American Development Bank

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Inter-American Development Bank
IDBLogo en.gif
Founded 1959
Headquarters Washington, D.C.
Key People Luis Alberto Moreno, President
Web site www.iadb.org
Releases Organization News

The Inter-American Development Bank (IADB) is an international organization established to support Latin American and Caribbean economic and social development and regional integration by lending mainly to governments and government agencies.

With a triple-A rating, the Bank borrows in international markets at competitive rates. It also offers research, advice and technical assistance to support key areas like education, poverty reduction and agriculture. The Bank is also active on cross-border issues like trade, infrastructure and energy.[1]It is based in Washington, D.C.


History[edit]

The Bank was formally created in 1959, when the Organization of American States drafted the Articles of Agreement establishing the IADB.[2]

In January of 2010, IADB President Luis Alberto Moreno called for an urgent international response to a devastating earthquake that had taken place in Haiti and he pledged to redirect millions of dollars in IDB grants to support assistance and reconstruction efforts.[3][4]The IADB had been working in Haiti for 50 years and as of early 2010, was its leading source of multilateral financing, supporting investments in sectors such as transportation, electricity, water, education, health and agriculture.

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