Box 1.2

The Consolidation of the IDB’s Private Sector Activities

Part of Chapter 1 - Monitoring Results for Greater Development Effectiveness

Until the end of 2015, the IDB Group’s private sector activities were carried out by the IDB’s Structured and Corporate Finance Department (SCF) and the Opportunities for the Majority sector (OMJ), the Inter-American Investment Corporation (IIC), and the Multilateral Investment Fund (MIF). On March 30, 2015, the Boards of Governors of the IDB and IIC adopted Resolutions AG-9/15 and CII/ AG-2/15, authorizing the transfer of the activities of SCF and OMJ from the IDB to the IIC consistent with certain principles set forth in the Merge-out Proposal (document CA-556/CII/CA-165), and a US$2.03 billion of capital increase.

This transfer was completed on January 1, 2016. As indicated in paragraphs 2.39 and 2.8 of the Merge-Out Proposal, the IIC “is to have a strategic framework closely aligned with the IDBG’s institutional strategy and integrated country strategies”. Together with the IDB, it “will design a Corporate Results Framework that will use higher order result indicators to reflect shared institutional goals”. Because MIF is a fund administered by the IDB, it is also covered under the IDBG’s updated CRF. The CRF 2016–2019 was therefore designed to capture the contributions made to each of the priority areas of the Update to the Institutional Strategy by the entire IDBG (unlike the CRF 2012–2015, which applied to only the IDB).

Continue reading Chapter 1 - Monitoring Results for Greater Development Effectiveness