The private-sector wing of Latin America’s premier development bank will seek a capital increase from shareholders of $3 billion to $4.5 billion, its chief told Devex.
This will allow IDB Invest to lend more, take on more risk, and design projects to combat climate change, according to the lender’s CEO James Scriven.
“If I really want to have an impact on the region this is what I need,” Scriven said. It’s an “ambitious” model the bank has dubbed IDB Invest 2.0.
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About the author
Shabtai Gold
Shabtai Gold is a Senior Reporter based in Washington. He covers multilateral development banks, with a focus on the World Bank, along with trends in development finance. Prior to Devex, he worked for the German Press Agency, dpa, for more than a decade, with stints in Africa, Europe, and the Middle East, before relocating to Washington to cover politics and business.
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