Inter-American Development Bank

The Inter-American Development Bank Group (IDB) is a multilateral development bank that finances business and development activities in Latin America and the Caribbean. It has 48 member countries within and outside the region, and is made up of the IDB, which finances public sector projects, and IDB Invest, which provides financing to the private sector.

The IDB Group has a mission to improve the quality of life in Latin America and the Caribbean, and it has the power to support the realization of human rights with its financing. Too often, however, the institution finances projects that lack meaningful participation of local communities, generate conflict, and violate human rights. 

In September 2020, the IDB Group updated their social and environmental policy frameworks. The revision was an important process, because these policies have a big impact not only for the communities directly impacted by IDB investments, but because they also influence standards for both the public and private sectors throughout the region. 

Throughout the IDB’s revision of its safeguards, Coalition member Bank Information Centre and other CSOs have advocated for policies that promote more inclusive, sustainable development. With the IDB’s recent approval of its final Policy, the group of CSOs recognize the achievements and the improvements made, while continuing to urge the IDB to provide guidance on comprehensive post-approval and implementation processes that will benefit people and the environment.

For more information on the IDB safeguards revisions, please check out the Bank Information Centre website. You can also check a comprehensive analysis of the new ESPF and the individual Environmental and Social Performance Standards here.

You can register with IDB here to participate in consultations. For more information on how to monitor and help shape specific IDB projects, contact Gonzalo Roza, FUNDEPS.

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