The USA pulls funding from the IDB’s Multilateral Investment Fund

In a policy shift to reduce its foreign aid and diplomacy budget by 28 percent, the USA has decided to no longer contribute to the replenishment the Inter-American Bank (IDB’s) Multilateral Investment Fund (MIF) which funds pilot projects. In the absence of the USA, LAC countries contributed 55% of the required $317M while Japan pledged $85M. The USA’s last contribution was $150M.

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The Caribbean Association of Banks, Inc. is the representative body and recognized voice for banks and other financial institutions in the Caribbean. We seek to influence policies and legislation which impact the sector by advocating on our members’ behalf and participating in the global network of similar institutions.

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