IDB loans up +22%
15 April 2008
The Inter-American Development Bank (IDB) lent US$ 6.4 billion to 127 projects in 2006, a +22% increase on the previous year, according to its latest annual report.
The two areas that received the bulk of the IDB's loans and grants in 2006 were poverty reduction projects, which received US$ 2.3 billion, and infrastructure projects, which received US$ 1.8 billion.
In total the IDB approved 21 infrastructure projects, including 16 public sector projects (US$ 1.4 billion) and five private sector projects (US$ 347 million).
In an effort to boost infrastructure investment throughout Latin America, and in a bid to involve the private sector more, the IDB also launched the Infrastructure Investment Fund (InfraFund) 2006, which it describes as “a vehicle to support the preparation and development of sustainable projects in Latin America and the Caribbean.”
The US$ 20 million fund will help the development of critical infrastructure projects in the region. The Bank plans to lend US$ 12 billion to such projects over the next five years.
