Inter-American Development Bank

International

Type: International
Date approved: 08 Jul 2015
Size: Large
ESS Category: Category A, Intermediation 1
Fiduciary standards: Basic, Project management, Grant award, On-lending/blending (Loan), On-lending/blending (Equity), On-lending/blending (Guarantee)

The Inter-American Development Bank (IDB) is an international entity with several decades of experience in promoting poverty reduction, economic growth, private sector development and in fostering regional integration and trade in developing countries in the Latin American and Caribbean region. IDB has a successful track record in implementing projects and programmes in clean energy, health-care sectors, agricultural development and natural resources management. Last year, IDB committed nearly US$ 2.5 billion to climate change mitigation and adaptation actions. It has delivered projects and programmes, including the reduction of carbon emissions through low-carbon transport systems, climate-resilient agricultural development, integrated watershed modeling tools and early warning systems. Building on its existing experience, knowledge and strong presence in the region, IDB sought accreditation to GCF in order to catalyze the regional impact of its climate change mitigation and adaptation projects and programmes, paying particular attention to vulnerable communities. In addition, IDB seeks to strengthen the institutional capacities of national entities in the region to enable them to access climate finance directly.