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    • Devex Invested

    Devex Invested: What’s at stake as IDB Invest seeks a capital increase

    In this week's edition: Can IDB Invest get the capital increase it wants? Plus, what to watch at the World Bank Spring Meetings, and a new generation of philanthropists.

    By Adva Saldinger // 04 April 2023

    Getting shareholders to cough up more money can be slow going for a multilateral development bank. IDB Invest, the private-sector arm of the Inter-American Development Bank, has been pushing for a capital increase for more than a year.

    What we can exclusively tell you now is how much money the institution is asking for: $3 billion to $4.5 billion. That’s according to IDB Invest CEO James Scriven, who says the funding will allow it to take on more risk, lend more, and design projects to combat climate change.

    “If I really want to have an impact on the region, this is what I need,” Scriven tells my colleague Shabtai Gold, adding that the funding is critical to carrying out IDB Invest 2.0, the lender’s new strategy.

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    About the author

    • Adva Saldinger

      Adva Saldinger@AdvaSal

      Adva Saldinger is a Senior Reporter at Devex where she covers development finance, as well as U.S. foreign aid policy. Adva explores the role the private sector and private capital play in development and authors the weekly Devex Invested newsletter bringing the latest news on the role of business and finance in addressing global challenges. A journalist with more than 10 years of experience, she has worked at several newspapers in the U.S. and lived in both Ghana and South Africa.

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