Message from the President

2015 marked a critical year for both the global development community and the Inter-American Development Bank (IDB). Landmark agreements reached among the nations of the world at major conferences in Addis Ababa, New York and Paris underscored the importance of what we do as a development bank – leverage our financial resources and technical expertise to support efforts by our borrowing member countries to address their unique and evolving development challenges. These agreements on future resource requirements for development finance, on a set of universal and comprehensive global development goals and on urgent action to tackle climate change reflect an unprecedented level of collaboration and recognition of shared responsibility.

At the IDB Group, we are committed to helping the countries of our Region to implement the 2030 Sustainable Development Agenda and in particular to achieve sustainable inclusive growth, reduce poverty and inequality and protect the planet.

The IDB achieved important milestones during the year that reinforced our ability to carry out our mission. The Update to our Institutional Strategy honed the strategic focus of our work going forward by zeroing in on three key challenges and three cross-cutting issues: the challenges of inequality and inclusion, productivity and innovation, and economic integration; and the issues of climate change and environmental sustainability, gender equality and diversity, and institutional capacity and the rule of law. In addition, the consolidation of the IDB Group’s private sector activities into the Inter-American Investment Corporation (IIC), accompanied by a US$2.03 billion capital increase, represents a key step, given the prominent role that private finance will play in achieving development results.

2015 also saw the conclusion of the first Institutional Strategy period covered by the Ninth General Capital Increase, whose progress was measured by the Corporate Results Framework (CRF). This year’s edition of the Development Effectiveness Overview presents the overall progress on each of the Strategy’s five sector priorities in the four years comprising 2012–2015. While much was accomplished, there is more work to do in reducing poverty, enhancing integration, building institutions and infrastructure and taking steps to deal with climate change.

As in past editions, in this report we discuss what went well and what did not. We do not shy away from examining lessons learned, so that we can continuously improve the ways in which we serve the Region. Measuring, monitoring and reporting on both project and corporate performance, through credible methodology, allow us to make decisions that are better informed and that can be adjusted if a change in strategic direction is necessary.

Whether we are working to help make cities clean, safe and sustainable, improving health care, improving countries’ responses to natural disasters, fostering productivity in small and medium sized enterprises, or harnessing the power of the digital age in innovative ways as part of the Fourth Industrial Revolution, the IDB Group reaffirms its commitment to work closely with each of its borrowing member countries, providing the needed financial resources, technical assistance, and policy advice to meet their unique and evolving needs. The work is far from finished: it is just the beginning of a new chapter to continue improving lives in Latin America and the Caribbean.

Luis Alberto Moreno
Inter-American Development Bank
Washington, D.C., July 2016