The Inter-American Development Bank (IDB) released its first Sustainability Review in April 2006. The review tracks the Bank’s progress in promoting social and environmental sustainability in IDB-financed projects in its member countries in Latin America and the Caribbean. The report is available on line in English and Spanish at www.iadb.org/sustainability/
Some highlights include:
The approval of the IDB’s Environment and Safeguards Compliance Policy, which will help the Bank to better identify and reduce environmental impacts of its projects;
A new Policy on Indigenous People which will serve as a cornerstone in helping the Bank to promote development of indigenous communities while enabling them to preserve their identity.
The Bank’s commitment to increase investments in clean energy and efforts to mitigate greenhouse gas emissions;
An overview of the steps the Bank is taking to reduce its own environmental impact and improve diversity within its own staff.
The Sustainability Review 2005 is an initial effort to assemble a baseline of data that will be expanded and refined in coming years. A full-fledged report documenting commitments and compliance will be produced by 2008.
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The IDB is the primary source of multilateral development financing in Latin America and the Caribbean, fostering sustainable economic and social development and reducing poverty in the region through its lending operations, leadership in regional initiatives, research, knowledge dissemination activities, institutes, and programs. Since its founding in 1959, the Bank has approved more than $137 billion for projects that total over $325 billion with supplemental funding from other sources. By year-end 2005, the Bank had a portfolio with a value of $55 billion in loans and guarantees, as well as $2.1 billion in grants and technical cooperation financing. For more information visit www.iadb.org