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.