IDB Gains Another Member

China will become a donor member of the Inter-American Development Bank. The Asian nation pledged USD350 million to support the regional lender’s key programs in Latin America and the Caribbean. Of the amount, USD125 million will back loans to Bolivia, Guyana, Haiti, Honduras, and Nicaragua. The rest will be used to strengthen the institutional capacities of governments and private institutions, and boost small, medium and micro enterprises. (“China to join the Inter-American Development Bank” - Inter-American Development Bank, Oct. 23, 2008)