IDB OK'd More than USD12B for 2010 Projects

The Inter-American Development Bank had approved 170 projects worth approximately USD12.9 billion and had disbursed some USD10.9 billion of the sum by the end of 2010.

The number of approved projects in the past year is higher than the 2009 volume of 165, but the total amount approved is lower than 2009’s USD15.9 billion total.

Approximately a third of the loans approved by IDB in 2010 were for the 19 poorest countries in the regions, according to a news release by the agency.

Meantime, IDB announced that it had disbursed a record USD176 million worth of grants to Haiti in the aftermath of the strong eartquake that rocked the country on Jan. 12, 2010. The sum is the largest assistance Haiti has received from the any multilateral organization in response to the earthquake.

IDB is set to diburse another USD15 million grant to the country in the coming weeks. The grant was approved in December 2010 and is designed to boost efforts to curb the spread of cholera.

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.