Canada and the Inter-American Development Bank
The Inter-American Development Bank Group
Created in 1959, the Inter-American Development Bank (IDB) is the oldest regional development bank and the largest source of multilateral development financing for Latin America and the Caribbean.
The IDB, which provides support to the public sector, is part of the IDB Group, which also includes IDB Invest, responsible for private sector operations, and IDB Lab, a trust fund that serves as the Group's innovation laboratory. The IDB and IDB Invest consist of 48 member states, compared to 40 for IDB Lab. A total of 26 member countries from the Latin America and Caribbean region are engaged in all three entities.
The overarching objectives of the IDB Group are to reduce poverty and inequality and to promote sustainable economic growth in the region. The Group seeks to achieve these objectives by addressing the needs of less developed and smaller countries in the region and fostering development through the private sector. As part of its efforts, it prioritizes gender equality, social inclusion and diversity; productivity and innovation; regional economic integration, climate change and environmental sustainability; and institutional capacity and the rule of law.
Canada and the Inter-American Development Bank Group
Canada has been an active member of the IDB since 1972. With a voting share of four percent, Canada is the third largest non-borrowing member, after the United States and Japan, and the sixth largest shareholder overall out of a total of 48 members. Canada holds a permanent seat on the 14‑member Board of Executive Directors and has its own constituency.
Canada became a member of IDB Invest in 2014, when it was created. With a voting share of around three percent, Canada is the sixth largest non-borrowing member, and the thirteenth largest shareholder, out of a total of 48 members. Canada is part of a constituency with France, Switzerland, Denmark, Sweden, Norway and Finland. Representation at the Board of Executive Directors is on a rotating-basis. The Minister of International Development serves as Canada's Governor to the IDB and IDB Invest.
IDB Lab was created in 1993. Canada is its 13th, with a voting share of around three percent. Canada sits on the Donors Committee, which is IDB Lab's governing body made up of all 40 members.
Information on joint projects and core funding provided to the IDB Group by Canada can be found by doing a search by implementing partner in the advanced filters of the Project Browser.
The IDB Group is a key partner for Canada in the Latin America and Caribbean region and constantly delivers strong results for the population in the region.
DB Group indicators and targets are identified in a multi-year corporate results framework. Results are reported annually on the main page of The IDB Group Corporate Results Framework in a report called the Development Effectiveness Overview. The IDB Group also has additional tools to assess, monitor and evaluation each project. A full description can be found in the Development Effectiveness section of the IDB web site.
Canada monitors the results of each institution in the IDB Group to ensure it achieves its mandate and reports annually on the performance of international financial institutions, including the IDB Group, in its report to Parliament on Canada's international assistance.
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