The Inter-American Development Bank

The Inter-American Development Bank (IDB) is the largest multilateral source of financing for development projects in Latin America and the Caribbean. It works to reduce poverty and inequalities and to promote sustainable economic growth in the region.

Switzerland is an active member in the governing bodies of the IDB and carries out development projects together with the Bank.

Ambassador Raymund Furrer at the IDB Non-regional meeting in Switzerland
Ambassador Raymund Furrer at the Meeting with Representatives of the Nonregional Member Countries of IDB on January 2020 in Zürich-Rüschlikon, Switzerland.

Role and actitivies of the IDB

The IDB is the most important multilateral source of financing in the region, especially for small and vulnerable countries of Latin America and the Caribbean (LAC). The IDB offers support through the provision of credits and grants, as well as by offering its expertise through technical support. The IDB’s objectives are the following:

  • Reducing poverty and social inequalities,
  • Addressing the needs of small and vulnerable countries,
  • Fostering development through the private sector,
  • Addressing climate change by promoting renewable energy and environmental sustainability, and
  • Promoting regional cooperation and integration.

The IDB Group (IDBG) includes the following organizations, focusing on private sector development:

  • IDB Invest (formerly named «Inter-American Investment Corporation - IIC»): support to small and medium-sized enterprises.
  • Multilateral Investment Fund (MIF): innovation lab for the IDB Group, it conducts high-risk experiments to test new models for engaging and inspiring the private sector (micro and small enterprises) to solve economic development problems in LAC.

Cooperation between Switzerland and the IDB helps to improving water, sanitation and solid waste infrastructure for over one million households.


Switzerland and the IDB

The IDB is a key partner for Switzerland in its efforts to reduce poverty and foster environment-friendly, sustainable growth in LAC. Switzerland is part of a constituency – together with Belgium, China, Germany, Israel, Italy and the Netherlands – that occupies a seat in the Board of Directors. Switzerland participates actively in the discussions and decisions of the Board of Directors and thereby fulfills its supervisory role as a shareholder.

Switzerland’s objectives for cooperation with IDB

In addition to the institutional cooperation within the Board of Directors, Switzerland and the IDB are working together operationally, in particular on the following goals:

  • Strengthen IDB’s capacities in the water sector and in urbanization (SDG 6, 11).
  • Strengthen IDB’s capacities in the field of reducing poverty with a focus on inequalities, fragility and gender issues (SDG 1, 5, 10).
  • Foster economic and social development through strengthening of the private sector (SDG 8, 9).

For the middle term, Switzerland will pursue its efforts to further make the Bank a more results-oriented and effective institution, with the following objectives:

  • Strengthen quality and sustainability of IDB's activities.
  • Maintain sound financial management aiming to keep the AAA credit rating.
  • Improve operationalization and measurement of inclusive growth.
  • Support climate resilient development (SDG 13).
  • Promote private sector development in IDB's operations.

Last modification 07.07.2020

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