The Inter-American Development Bank will provide $153 million to a new capital investment platform for Latin America and the Caribbean, in partnership with the Export-Import Bank of China.
A statement from the Inter-American Development Bank (IDB) reads:
IDB approves $153 million in loans to establish an IDB and China Eximbank capital investment platform
The Inter-American Development Bank (IDB) aims issue US$3.7 billion in loans to the private sector next year, said Steven J. Puig, the bank's vice president for private-sector lending.
Puig added that the IDB also hopes to increase its presence in Central America and the Caribbean. Two new officials are being hired in El Salvador to handle lending to major companies and small businesses respectively.
The Inter-American Development Bank (IDB) will help Costa Rica's financial sector to increase lines of credit for agricultural production.
IDB vice-president Daniel Zelikow made the announcement during a visit to Costa Rica to evaluate the effects of the world economic situation on the local economy.
Zelikow said the IDB plans to strengthen its ties with the private financial sector to help it open lines of credit specifically directed toward agricultural producers.