Inter-American Development Bank · Washington, DC United States

Inter-American Development Bank is like a mutual aid society that packs an economic punch. The institution was founded in 1959 to aid in the social and economic development of Latin America and the Caribbean. It provides grants and loans to help fund public and private projects, modernize public institutions, foment free trade, and reduce poverty. The bank is also involved in cross-border issues such as infrastructure and energy. Inter-American Development Bank is owned by its 47 member nations, which consist of 26 borrowing members in Central America, South America, and the Caribbean, plus nonborrowing members including the US, Canada, and 19 other countries. To read the full description, subscribe now.