MercoPress. South Atlantic News Agency

IDB loans effectively disbursed in 2010 totaled 10.3 billion US dollars

The bank also approved several measures to assist quake ravaged Haiti

The Inter-American Development Bank approved 12.136 billion US dollars in new operations in 2010 and made 10.341 billion in loan disbursements from its ordinary capital, according to its latest annual report issued over the weekend.

The IDB Ordinary Capital also recorded strong financial results in 2010, with operating income of 1.252 billion USD. The Bank’s Ordinary Capital continues to be well capitalized, with 33.4 dollars in equity for every 100 dollars in loans and net guarantee exposure, according to the report.

The loan approvals included 162 loans from the Bank’s ordinary capital and 31 parallel loans from the Fund for Special Operations (FSO), its Concessional lending window.

The IDB approved a record amount for grants in 2011. Grant instruments including technical co¬operation, knowledge and capacity products, developmental grants, and investment grants totaled 570.8 million USD. When financing from the Social Entre¬preneurship Program and the IDB Grant Facility are included, the total reached a record level of 830.1 million.

As part of the IDB’s Ninth General Capital Increase, approved in July, 2010, the Bank’s Board of Governors also approved a number of measures to assist Haiti. These included 72 million USD in income trans¬fers from the Ordinary Capital to the IDB Grant Facility and 364 million in transfers from FSO, including 236 million representing advance contributions received to date, to help expand grants for Haiti’s earthquake reconstruction efforts.

In addition, the IDB’s members made 236 million USD in advance contributions to the FSO in 2010, thereby enabling the Bank to forgive Haiti’s outstanding IDB debt.

Separately, Moody's Investor Services reaffirmed its long-standing Aaa credit rating for the IDB in a March 22 report, citing the Bank’s a robust capital base, strong support from member countries, sound financial management, and preferred creditor status.