The Inter-American Development Bank (IDB) 

The Inter-American Development Bank (IDB) is a regional multilateral development institution, and was established in 1959 to help accelerate economic and social development in Latin America and the Caribbean. 

The Bank is owned by its 46 member countries: 26 borrowing member countries in Latin America and the Caribbean, and 20 non-borrowing countries, including the United States, Japan, Canada, sixteen European countries and Israel. The Bank, whose headquarters are in Washington, D.C., also has offices in each Latin American country, Paris and Tokyo.  The Board of Governors is the Bank's highest authority, in which each member country is represented. These Governors are usually Ministers of Finance, Presidents of Central Banks or officers of comparable rank.  

In addition to the Bank, the IDB Group consists of the Inter-American Investment Corporation (IIC) and the Multilateral Investment Fund (MIF). The IIC, an autonomous affiliate of the Bank, was established to promote the economic development of the region by financing small and medium-scale private enterprises. The MIF was created in 1992 to promote investment reforms and to stimulate private-sector development. 

The Bank's Charter states that its principal functions are to utilize its own capital, funds raised by it in financial markets, and other available resources, for financing the development of the borrowing member countries; to supplement private investment when private capital is not available on reasonable terms and conditions; and to provide technical assistance for the preparation, financing, and implementation of development plans and projects. 

The Bank's operations cover the entire spectrum of economic and social development, working in sectors such as: agriculture, industry, energy, transportation and the social sectors of environmental and public health, education and urban development. Current lending priorities include poverty reduction and social equity, modernization and integration, and the environment.