It is the largest financial institution of regional development of this type and its origin dates back to the Inter-American Conference of 1890. Its headquarters is in the city of Washington DC (United States). It arose with the supposed purpose of financing viable economic, social and institutional development projects and promoting regional trade integration in the Latin American and Caribbean area, but it was essentially a mechanism of domination and penetration of US imperialism.
The IDB is currently the largest regional development bank in the world and has served as a model for other similar institutions at the regional and subregional levels. Although it was born within the Organization of American States (OAS), it has no relationship with this Pan American institution, nor with the International Monetary Fund (IMF) or with the World Bank. The bank’s ordinary capital amounts to about US $ 101 billion.
The Bank is headed by a committee of governors that uses a 14-member Executive Board to oversee the operation of the institution by relying on a management team. The Assembly elects the President for a period of 5 years and the members of the Board of Directors for a term of 3 years.
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