Inter-American Development Bank
The IDB has redirected $12 billion from other proposed projects to directly respond to the COVID-19 crisis. The Bank’s four priority areas are the immediate public health response, safety nets for vulnerable populations, economic productivity and employment, and fiscal policies for the amelioration of economic impacts. IDB Invest, the private sector arm of the IDB, will donate $5 billion, with a $500 million Crisis Mitigation Facility targeting investments that directly respond to the pandemic. The IDB has emphasized the importance of technology during this transition to virtual work and learning environments, providing adaptation techniques for development banks and funding remote working technologies for women-led small and medium-sized enterprises (SMEs). In order to spur entrepreneurship, the IDB invites businesses to provide self-reported solutions to the pandemic in its Innovators Map.
In addition to direct interventions, IDB provides policy recommendations and data visualizations to keep citizens informed about the impact of COVID-19 and the current pandemic response. Many of these trackers encourage citizen participation to ensure that governments are aware of opinions and suggestions of all people. Policy recommendations particularly focus on how governments can utilize monetary policy solutions, overcome fiscal challenges, and harness financial systems to help families. The IDB is currently focusing on providing policy recommendations for the reopening of countries and on COVID-19 recovery. Through the Mapainversiones project, each country reports the budgets for government projects to increase transparency and reduce possibility of corruption among officials. #MovingOnline provides teachers, students, and administrators with strategies, classes, and resources to ensure the successful transition to remote learning. The IDB elected a new president, Mauricio J. Claver-Carone, in September. It is unknown what changes and new innovations the new president will bring. The Board of Directors appointed a new executive team in November.
Related Country Pages
The following country pages document the IDB’s response to the pandemic in specific areas, or contain links to further resources about the IDB.
Select resources for the IDB:
To learn more about the Inter-American Development Bank, visit https://www.iadb.org/en.
Banco Interamericano de Desarrollo. (2020). #MovingOnline. https://cursos.iadb.org/es/indes/moving-online.
————. (2020). Apoyo a Países. https://www.iadb.org/es/coronavirus/apoyo-paises.
————. (2020). COVID-19 y Desarrollo Infantil. https://www.iadb.org/es/social-protection/desarrollo-infantil/covid19-respuesta-regional.
————. (2020). Resúmenes y Visualizaciones de Datos. https://www.iadb.org/es/coronavirus/resumenes-y-visualizaciones.
————. (2020, July). Salir del tunel pandémico con crecimiento y equidad: Una estrategia para un nuevo compacto social en América Latina y el Caribe. https://publications.iadb.org/publications/spanish/document/Salir-del-tunel-pandemico-con-crecimiento-y-equidad-Una-estrategia-para-un-nuevo-compacto-social-en-America-Latina-y-el-Caribe.pdf.
Bases, D. (2020, September 14). IDB breaks precedent, elects US citizen as new president. Latin Finance. https://www.latinfinance.com/daily-briefs/2020/9/14/idb-breaks-precedent-elects-us-citizen-as-new-president.
Blackman, A., Ibañez, A. M., Izquierdo, A., Keefer, P., Moreira, M., Schady, N., & Serebrisky, T. (2020). La política pública frente al Covid-19: Recomendaciones para América Latina y el Caribe. Inter-American Development Bank. https://doi.org/10.18235/0002302.
Cavelier, A. (2020, March 20). IDB teams up with TransparentBusiness to facilitate remote access technologies for SMEs. Inter-American Development Bank. https://www.iadb.org/en/news/idb-teams-transparentbusiness-facilitate-remote-access-technologies-smes.
Cotacachi, D., & Grigera, A. (2020, May). Prevention, containment, and management of COVID-19 cases in indigenous territories. IDB Blog. http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=EZSHARE-1043693673-52.
De Michele, R., & Cruz Vieyra, J. (2020, May 13). 3 claves para que la emergencia sanitaria no se convierta en una crisis de integridad. IDB Blog. https://blogs.iadb.org/administracion-publica/es/3-claves-para-que-la-emergencia-sanitaria-no-se-convierta-en-una-crisis-de-integridad/.
Herrera, D. (2020, May). MSME Financing Instruments in Latin America and the Caribbean During COVID-19. Inter-American Development Bank. https://publications.iadb.org/publications/english/document/MSME-Financing-Instruments-in-Latin-America-and-the-Caribbean-During-COVID-19.pdf.
Inter-American Development Bank. (2020). Caribbean economies in the time of the coronavirus. Caribbean Quarterly Bulletin, 9(1). Retrieved August 6, 2020, from https://publications.iadb.org/publications/english/document/Caribbean_Quarterly_Bulletin_Volume_9_Issue_1_April_2020.pdf.
————. (2020). Current situation of the pandemic | IADB. Iadb.Org. https://www.iadb.org/en/coronavirus/current-situation-pandemic.
————. (2020). IDB Group Coronavirus Platform. Coronavirus. https://www.iadb.org/en/coronavirus.
————. (2020). What are citizens saying during the COVID-19 pandemic? https://covid19-civiclytics.citibeats.com/#/CAT/5.
————. (2020, May). From lockdown to reopening: Strategic considerations for the resumption of activities in Latin America and the Caribbean within the framework of Covid-19. https://publications.iadb.org/publications/english/document/From-Lockdown-to-Reopening-Strategic-Considerations-for-the-Resumption-of-Activities-in-Latin-America-and-the-Caribbean-within-the-framework-of-Covid-19.pdf.
————. (2020, September 12). Mauricio J. Claver-Carone Elected IDB President | IADB. Iadb.Org. https://www.iadb.org/en/news/mauricio-j-claver-carone-elected-idb-president.
————. (2020, November 10). IDB Group Analyzes Financial Inclusion in Times of COVID-19. https://www.iadb.org/en/news/idb-group-analyzes-financial-inclusion-times-covid-19.
————. (2020, November 10). IDB, World Bank, CABEI to Support Countries Affected by Hurricane Eta. https://www.iadb.org/en/news/idb-world-bank-cabei-support-countries-affected-hurricane-eta.
————. (2020, November 13). IDB Board of Directors Appoints New Executive Team. https://www.iadb.org/en/news/idb-board-directors-appoints-new-executive-team.
————. (n.d.) IDB and IDB Invest Coronavirus Impact Dashboard. https://www.iadb.org/en/topics-effectiveness-improving-lives/coronavirus-impact-dashboard.
Inter-American Development Bank Lab, & ConnectAmericas. (2020). COVID-19 Latin American and Caribbean Innovators Map. https://bidlab.org/en/map-LAC-innovators-Covid-19.
Mejía, I., Savedoff, W. D., Mendieta, C., Pagés, C., et al. (2020, May 9). From Lockdown to Reopening: Strategic Considerations for the Resumption of Activities in Latin America and the Caribbean within the framework of Covid-19. Inter-American Development Bank. https://publications.iadb.org/en/from-lockdown-to-reopening-strategic-considerations-for-the-resumption-of-activities-in-latin-america-and-the-caribbean-within-the-framework-of-covid-19.
Nuguer, V., & Powell, A. (Eds.). (2020, June). Policies to Fight the Pandemic: 2020 Latin American and Caribbean Macroeconomic Report. Inter-American Development Bank. https://publications.iadb.org/publications/english/document/2020_Latin_American_and_Caribbean_Macroeconomic_Report_Policies_to_Fight_the_Pandemic.pdf.