The Inter-American Development Bank set a record with its financing in 2021, reaching $23.4 billion in new funding approvals, commitments, and private sector mobilizations. The figure includes financing from the regional multilateral development bank’s private sector arm, IDB Invest.
This marks only the second time that IDB’s annual financing has surpassed $20 billion, with the first being 2020. In a wide-ranging interview with Devex, IDB President Mauricio Claver-Carone said he hopes to leverage this progress to meet the challenges facing the Latin American and Caribbean region, such as inflation and debt, while advancing his “Vision 2025” agenda that prioritizes green investments and “nearshoring” jobs.
“It’s important to set that benchmark as the new normal for our financing levels. … Part of the reason that we needed and we were asking for — and we were working with our shareholders on finishing the analysis for — our capital increase is so that $20 billion-plus can become the new normal,” Claver-Carone said.