Inter-American Development Bank Annual Report 2003
This Annual Report contains a brief summary of the economic situation of Latin America and the Caribbean and a review of the Bank's operations in 2003. In addition, the Report contains a description on a country-by-country basis and a regional basis of the Bank's various operations -loans, guarantees, financings for small projects and technical cooperation- on behalf of Latin America's development; a summary statement of the loans approved in 2003; the financial statements of the Bank; and its general appendices. The Board of Directors approved two new instruments in 2003: the conditional credit line for investment projects and a pilot program for performance-driven loans. The Bank continued to meet its commitments during the year to deliver debt relief for Bolivia, Guyana, Honduras, and Nicaragua under the original and enhanced Highly Indebted Poor Countries (HIPC) initiatives. Commemorating its tenth year, the Multilateral Investment Fund (MIF) continued to pursue its mission, unique among international financial institutions, to promote inclusive private sector development in Latin America. The 70 MIF projects approved in 2003, totaling $70 million.