IDB approves grant funds for countries receiving migrants

The non-reimbursable resources will support investments in inclusive development, regional projects, training in critical issues and innovative solutions that affect the development of the region

The Board of Governors of the Inter-American Development Bank approved the use of its Special Donation Fund to support operations that help countries integrate immigrants into their local communities and contribute to their development.

It is worth noting that the proposal arose in response to a sudden increase in migratory flows between unprecedented regions that have an impact on the countries of Latin America and the Caribbean. The initiative will make it possible to use the bank’s donations in combination with economic and social development operations.

The financial institution will collaborate with countries to offer better access to health, education, housing, security and other services to communities that strive to integrate newcomers. The Special Donation Fund of the IDB was created in 2007 for special circumstances that may arise in specific countries or projects.

According to what was stipulated, the IDB will grant US$ 100 million from its fund, while the donor community is expected to contribute additional resources. These donation funds will be combined with bank financing operations for US$ 800 million.

The mission of the Inter-American Development Bank is to improve lives. It was founded in 1959 and is one of the main sources of long-term financing for economic, social and institutional development in Latin America and the Caribbean.


Source: BID

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