Inter-American Development Bank Annual Report 2007
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 2007. In addition, the report contains a description of the Bank's operations (loans, guarantees and grants); Management's Discussion and Analysis: Ordinary Capital; the financial statements of the Bank; and its general appendices. In 2007 the IDB concluded landmark negotiations to provide debt relief to five of our neediest borrowing members. The Bank approved 100 percent debt relief of the loans outstanding at year-end 2004 for Bolivia, Guyana, Haiti, Honduras and Nicaragua. Recognizing the critical importance of energy security and climate change for Latin American and Caribbean countries, the IDB in 2007 launched a Sustainable Energy and Climate Change Initiative. Much of the Bank's lending in 2007 was focused on investments that will help our members to deepen and consolidate the gains from booming commodity exports and growing trade with new markets in Asia.