1959day.year
The Organization of American States drafts an agreement to create the Inter-American Development Bank.
The Organization of American States drafts the creation of the Inter-American Development Bank to support regional economic development.
On April 8, 1959, member nations of the Organization of American States formulated an agreement to establish the Inter-American Development Bank (IDB).
The IDB was conceived to provide financial resources and technical assistance for social and economic projects across Latin America and the Caribbean.
By pooling capital contributions from member countries, the bank aimed to promote infrastructure, education, and agricultural development.
Early focus areas included improving transportation networks, expanding access to credit for small businesses, and enhancing public services.
The IDB’s creation marked a milestone in regional cooperation and solidarity during the post-World War II era.
Over subsequent decades, the bank has financed thousands of projects, contributing to poverty reduction and sustainable growth in the Americas.
Organization of American States
Inter-American Development Bank