IDB Invest is named the 2018 Multilateral Development Bank of the Year by LatinFinance

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Nov 09, 2018, 11:51 ET

WASHINGTON, Nov. 9, 2018 /PRNewswire/ -- LatinFinance, the leading source of intelligence on the financial markets and economies of Latin America and the Caribbean, named IDB Invest as the leading multilateral development institution this year.

"This award validates our decision to consolidate our private sector activities in the IDB Group in order to maximize their development impact and offer more efficient services to clients," says Inter-American Development Bank (IDB) President Luis A. Moreno. "The development solutions of the future will come from the private and public sectors working strategically together, mobilizing more capital and supporting more projects to achieve the Sustainable Development Goals for all."

"We are pleased to receive this award as it shows we are getting our business model right. We are diversifying our portfolio and customizing our solutions beyond the traditional US-dollar loan," says James P. Scriven, IDB Invest CEO. "By putting ourselves in our clients' shoes, our experts can tailor a high-quality, client-centric experience that is good for business, and more importantly good for our development impact in the region."

IDB Invest is on track to closing the year with $3.5 billion in approved projects with an emphasis in infrastructure, energy, agribusiness, telecommunications and manufacturing. Since 2016 the number of projects that offer financial innovative products, such as capital markets, to finance renewable energy operations has increased from 45 percent to 70 percent.

About IDB Invest
IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to supporting Latin America and Caribbean businesses. It finances sustainable enterprises and projects to achieve financial results that maximize economic, social and environmental development for the region. With a current portfolio of $11.2 billion under management and 330 clients in 23 countries, IDB Invest works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients. As of November 2017, IDB Invest is the trade name of the Inter-American Investment Corporation.

About LatinFinance Awards
LatinFinance's Banks of the Year Awards celebrate the financial institutions in Latin America and the Caribbean that best demonstrated excellence in retail, commercial and investment services in the last year. The 2018 awards evaluate banks on their efforts between July 1, 2017, and June 30, 2018.

Media Contact: Ana Lucia Escudero, [email protected]

SOURCE IDB Invest