IDB may Cut Funds for Latin America

The Inter-American Development Bank may downsize lending to Latin America by 60 percent if the bank's members do not boost its capital,

reports. According to internal IDB estimates, the bank will need between USD12.9 billion and USD19 billion every year to meet the development needs in the region over the next 10 years.

About the author

  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.