By: Omar Silva, NP Staff Writer

Belize City, Monday, 20 March 2023

The Inter-American Development Bank (IDB) has recently undergone operational and institutional reforms to improve coordination among its various entities and develop a new institutional strategy. The IDB Boards of Executive Directors and the IDB Management worked jointly to develop these reforms, which were mandated by the resolution "Advancing IDB Operational and Institutional Reforms."

During the Annual Meeting of the Boards of Governors of the IDB and IDB Invest in Panama City from March 16 to 19, 2023, three key resolutions were passed. The first resolution aims to strengthen coordination among the IDB, IDB Invest, and the Multilateral Investment Fund (MIF), while the second resolution proposes a "New Vision and Business Model for the Inter-American Investment Corporation (IDB Invest)." This proposal will take into consideration the financial, resource, operational, and institutional implications of the new vision and business model for IDB Invest.

The third resolution requests the IDB Lab Management, under the direction of the Donors Committee, to develop a proposal that includes a recommendation for donor contributions to IDB Lab, including a proposal for MIF IV agreement.

According to Prime Minister John Briceño, the IDB has been instrumental in critical sectors of Belize, including tourism, education, health, private sector, and industry development. The IDB has supported Belize in various ways, such as providing funding for infrastructure development, promoting tourism, and investing in education and healthcare. The IDB has also supported private sector growth and industry development in Belize, helping to create jobs and stimulate economic growth.

In conclusion, the IDB's operational and institutional reforms aim to improve coordination and develop a new institutional strategy to better serve the needs of countries like Belize. The IDB's contributions to critical sectors in Belize demonstrate the importance of its work in promoting sustainable economic growth and development in the region.

Рrіmе Міnіѕtеr Јоhn Вrісеñо wаѕ іn Раnаmа Сіtу аttеndіng thе Аnnuаl Мееtіng оf thе Воаrdѕ оf Gоvеrnоrѕ оf thе Іntеr-Аmеrісаn Dеvеlорmеnt Ваnk (ІDВ) аnd ІDВ Іnvеѕt frоm Маrсh 16 tо 19, 2023.