Inter-American Development Bank

The Inter-American Development Bank (Spanish: Banco Interamericano de Desarrollo (BID)), was established in 1959 to support Latin American and Caribbean economic/social development and regional integration by lending mainly to public institutions. The Bank is owned by 46 member countries, 20 of which are lenders:

Related Topics:
Spanish - 1959 - Latin America - Caribbean - Public institution

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Austria, Belgium, Canada, Croatia, Denmark, Finland, France, Germany, Israel, Italy, Japan, Netherlands, Norway, Portugal, Slovenia, Spain, Sweden, Switzerland, United Kingdom, and United States.

Related Topics:
Austria - Belgium - Canada - Croatia - Denmark - Finland - France - Germany - Israel - Italy - Japan - Netherlands - Norway - Portugal - Slovenia - Spain - Sweden - Switzerland - United Kingdom - United States

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26 of the members are borrowers:

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Argentina, Bahamas, Barbados, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Paraguay, Peru, Suriname, Trinidad and Tobago, Uruguay and Venezuela.

Related Topics:
Argentina - Bahamas - Barbados - Belize - Bolivia - Brazil - Chile - Colombia - Costa Rica - Dominican Republic - Ecuador - El Salvador - Guatemala - Guyana - Haiti - Honduras - Jamaica - Mexico - Nicaragua - Panama - Paraguay - Peru - Suriname - Trinidad and Tobago - Uruguay - Venezuela

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The United States holds the most IADB shares, at 30%, but borrowers in the agreggate hold about 50% of the total number of shares.

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The IADB is unique among development banks in that some of its members are also borrowers. Though this arrangement was first viewed as risky, but as of 2005 no member has defaulted. It is thought that strict peer pressure has prevented the borrowers from defaulting, even when they were under severe economic pressure (c.f. Haiti and Argentina).

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In July 27, 2005, the Colombian diplomat Luis Alberto Moreno was elected to replace Enrique V. Iglesias as President of the IADB.

Related Topics:
July 27 - 2005 - Colombia - Diplomat - Luis Alberto Moreno - Enrique V. Iglesias

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