MercoPress. South Atlantic News Agency

IDB plans to lend 10 billion USD in 2010

Luis Moreno, president of IDB

The Inter American Development Bank, IDB, is ready to disburse 10 billion US dollars in loans to Latinamerica during fiscal 2010, said the bank’s president Luis Moreno.

Because of last year’s financial crisis the most important multilateral financial organization approved 15.5 billion US dollars in 2009.

“We’re prepared to extend 10 billion US dollars to the region this year, and this includes the public and private sectors” said Moreno during a press conference in Santiago de Chile.

Last March the IDB agreed to increase the bank’s capital to 70 billion US dollars to avoid reducing its credit capacity this year because of the extraordinary support to the region last year as part of the plan to address the world downturn.

Moreno said that IDB goal is to have a loaning capacity of 12 billion US dollars annually until 2020.