MOPAN released its most recent assessment of IDB in 2023.
Established in 1959, IDB is the main source of multilateral financing in Latin America and the Caribbean, with a mandate to accelerate economic development, social development and regional integration. The wider IDB group consists of: (i) the Bank; (ii) IBD Invest, a legally separate entity responsible for lending to the private sector; and (iii) IDB Lab, a trust fund administered by the Bank, which finances private projects designed to boost innovation and entrepreneurship in the region. The IDB Group’s core strategic document is the Institutional Strategy, adopted in 2010, with the most recent update in 2019 around the strategic priorities of: (I) social inclusion and quality; (ii) productivity and innovation; and (iii) regional economic integration. In 2023, IDB will seek to renew this institutional strategy and vision.
The assessment highlights the IDB's deepening focus on development effectiveness and results, strength of the financial framework as well as efforts to enhance organisational effectiveness, building upon robust processes for internal control, safeguarding and resource allocation. The staff’s technical expertise, proximity and deep local knowledge are key assets enabling the Bank to engage credibly in policy dialogue with country clients at the national and regional levels. Going forward, there are opportunities for IDB to continue efforts in streamlining organisational processes while enhancing implementation, particularly for Environmental and Social Safeguards and results systems. Furthermore, there is room for IDB to enhance incentives around mobilisation and working jointly with IDB Invest.
