IDB Plans to Increase Capital

Major member countries of the Inter-American Development Bank have agreed to raise the bank's capital by up to USD100 billion, according to

. The capital increase is expected to boost the bank's lending capacity, said Brazilian Planning Minister Paulo Bernardo. Brazil, according to Bloomberg, may shoulder up to USD10.8 billion of the funds needed for the increase.

About the author

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    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.