Which development bank, founded in 1959, is the largest source of development financing for Latin America and the Caribbean?

The Inter-American Development Bank, founded in 1959, is the largest source of development financing for Latin America and the Caribbean.

The institution was created to accelerate economic and social development in the region. Its founding members included countries from the Americas, and the bank later expanded its membership beyond the Western Hemisphere. It provides loans, grants, technical assistance, and research support for public-sector and development projects.

Its work covers areas such as infrastructure, education, health, climate action, governance, and financial inclusion. The IDB Group also includes institutions focused on private-sector investment and support for smaller businesses.

The Inter-American Development Bank is different from the World Bank, whose membership and mandate are global. It is also distinct from the Organization of American States, which is a political and diplomatic organization rather than a development lender. The bank's headquarters are in Washington, D.C.