The Inter-American Development Bank
The Inter-American Development Bank (IDB) is committed to reducing poverty and inequality, tackling climate change and promoting sustainable economic development in Latin America and the Caribbean.
Role and activities of the IDB
The IDB is the largest source of multilateral financing in Latin America and the Caribbean, supporting the region through loans and grants as well as expertise and technical assistance. The IDB’s objectives are:
- Reducing poverty and social inequalities by promoting education, security, health and gender equality;
- Addressing climate change by promoting renewable energy and biodiversity;
- Supporting institutional capacity and the rule of law;
- Promoting sustainable economic growth by investing in sustainable and resilient infrastructures and strengthening the private sector and
- Improving regional cooperation.
The IDB includes the two other entities that focuses on private sector development:
- IDB Invest, which supports SMEs
- IDB Lab, which tests new, high-risk models for inspiring micro and small enterprises to solve economic development problems in Latin America and the Caribbean
Switzerland and the IDB
Switzerland has been a member of the IDB since 1975. The IDB is a key partner for Switzerland in its efforts to reduce poverty and foster environment-friendly, sustainable growth in Latin America and the Caribbean.
Switzerland is part of a constituency – together with Belgium, China, Germany, Israel, Italy and the Netherlands – that occupies a seat on the Board of Directors.
In addition to the institutional cooperation within the board, Switzerland and the IDB work together operationally. Switzerland is committed in particular to the following priorities:
- Results-oriented, effective and targeted financing of development projects according to the IDB’s expertise and priorities;
- Deepening systematic cooperation with other development partners, in particular with multilateral development banks;
- Ensuring compliance with international environmental, social and governance standards;
- Supporting countries in their transition away from fossil fuels and
- Ensuring adequate capitalisation resources and maintaining the AAA credit rating.
