Project profile — Support to the Inter-American Investment Corporation (IIC) - IDB Invest 2016-2025

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Overview

Overview

Support to the Inter-American Investment Corporation (IIC) - IDB Invest 2016-2025 - Overview
CA-3-D004901001
$87,907,528
IIC – Inter-American Investment Corporation (XM-DAC-46012)
2016-03-18 - 2025-12-31
Operational
Country / region • America, regional (100.00%)
Sector • Education, Level Unspecified
Education facilities and training (11120) (0.00%)
• Basic Education
Primary education (11220) (0.01%)
• Secondary Education
Secondary education (11320) (0.20%)
• Post-Secondary Education
Higher education (11420) (0.37%)
• Post-Secondary Education
Advanced technical and managerial training (11430) (0.00%)
• Health, General
Medical services (12191) (0.11%)
• Water And Sanitation
Water supply - large systems (14021) (0.39%)
• Water And Sanitation
Sanitation - large systems (14022) (0.39%)
• Water And Sanitation
River basins' development (14040) (1.19%)
• Other Social Infrastructure And Services
Housing policy and administrative management (16030) (0.03%)
• Other Social Infrastructure And Services
Low-cost housing (16040) (0.22%)
• Other Social Infrastructure And Services
Multi-sector aid for basic social services (16050) (0.03%)
• Transport And Storage
Transport policy and administrative management (21010) (0.15%)
• Transport And Storage
Road transport (21020) (13.21%)
• Transport And Storage
Water transport (21040) (1.70%)
• Transport And Storage
Air transport (21050) (0.12%)
• Communication
Telecommunications (22020) (0.04%)
• Communication
Information and communication technology (ICT) (22040) (0.10%)
• Energy Generation, Renewable Resources
Energy generation, renewable sources - multiple technologies (23210) (17.59%)
• Energy Generation, Renewable Resources
Hydro-electric power plants (23220) (3.75%)
• Heating, Cooling And Energy Distribution
Electric power transmission and  distribution (23630) (0.99%)
• Banking And Financial Services
Financial policy and administrative management (24010) (6.69%)
• Banking And Financial Services
Monetary institutions (24020) (2.52%)
• Banking And Financial Services
Formal sector financial intermediaries (24030) (30.35%)
• Banking And Financial Services
Informal/semi-formal financial intermediaries (24040) (3.51%)
• Agriculture
Agricultural development (31120) (0.03%)
• Agriculture
Agricultural extension (31166) (0.05%)
• Agriculture
Agricultural research (31182) (0.08%)
• Agriculture
Agricultural financial services (31193) (3.55%)
• Forestry
Forestry policy and administrative management (31210) (4.04%)
• Industry
Industrial policy and administrative management (32110) (1.20%)
• Industry
Small and medium-sized enterprises (SME) development (32130) (1.19%)
• Industry
Textiles, leather and substitutes (32163) (4.03%)
• Industry
Fertilizer plants (32165) (0.03%)
• Mineral Resources And Mining
Coal (32261) (1.49%)
• Trade Policy And Regulations And Trade-Related Adjustment
Trade education/training (33181) (0.21%)
• Tourism
Tourism policy and administrative management (33210) (0.33%)
• General Environmental Protection
Environmental policy and administrative management (41010) (0.02%)
• Other Multisector
Urban development (43032) (0.03%)
• Unallocated/ Unspecified
Sectors not specified (99810) (0.06%)
Policy marker • Climate change mitigation (significant objective)
• Gender equality (significant objective)
• Climate Change Adaptation (significant objective)
• Environmental sustainability (cross-cutting) (significant objective)
• Biodiversity (significant objective)
• Participatory development and good governance (not targeted)
• Urban issues (not targeted)
• Youth Issues (not targeted)
• Trade development (not targeted)
• ICT as a tool for development (not targeted)
• Indigenous Issues (not targeted)
• Desertification (not targeted)
• Children's issues (not targeted)
• Disability (not targeted)
Description and results

Description

This contribution represents Canada’s institutional support to the Inter-American Investment Corporation (IIC) – IDB Invest, which is part of the Inter-American Development Bank (IDB) Group. The IIC is the IDB Group's main entity for private sector operations. The IIC is a development finance institution that traditionally has provided loans to support small and medium sized enterprises. As of January 2016, the private sector operations of the IDB were merged into the IIC, which also included a capital increase to support its expanded activities, and in 2017, the IIC was rebranded to IDB Invest. IDB Invest works with large corporations, financial intermediaries, micro-, small- and medium-sized enterprises, and partially or wholly-owned state enterprises, providing advisory services and financing in the form of loans, equity investments and guarantees in Latin America and the Caribbean. Projects financed by IDB Invest must demonstrate a return on investment and foster sustainable economic development. This can include projects that create jobs, broaden capital ownership, generate net foreign exchange income, facilitate transfers of resources and technology, use local resources, encourage local savings or promote economic integration. IDB Invest focuses its operations on the following five priority business areas: (1) increasing micro-, small- and medium-sized enterprises access to finance and technical assistance; (2) promoting infrastructure for development; (3) supporting innovation and technological development; (4) enhancing private provision of basic goods and services; and (5) fostering green growth. Each priority business area takes into account three transversal issues: gender and diversity, environmental and social sustainability, and enabling environment.

Expected results

The expected outcomes for this project include: (1) reductions of greenhouse gas emissions (annual millions tons CO2 equivalent); (2) contribution to support formal employment of women; (3) students benefit through education projects; (4) beneficiaries receiving health services; (5) help beneficiaries improve the management and sustainable use of natural capital; (6) households benefit from housing solutions; (7) jobs created by supported firms; (8) people benefit from on-the-job training programs; (9) women benefit from economic empowerment initiatives; (10) micro, small and medium sized enterprises financed; (11) households with new or upgraded access to drinking water; (12) households with new or upgraded access to sanitation; (13) installed power generation from renewable energy sources; and (14) roads built or upgraded.

Results achieved

2017 marked the second year that the Inter-American Development Group (IDB Group) consolidated its results reporting under a single Corporate Results Framework (CRF) for 2016-2019 with common indicators and many joint targets covering the Inter-American Development Bank (IDB), IDB Invest (Inter-American Investment Corporation – IIC) and IDB Lab (Multilateral Investment Fund – MIF). Cumulative results achieved at the corporate level in 2016 and 2017 by the IDB Group through the support of the Government of Canada and other international donors include: (1) supported approximately 6.2 million students through education projects; (2) provided about 9.4 million individuals with health services; (3) supported 8.3 million individuals through targeted anti-poverty programs; (4) provided access to new or improved sanitation to more than 662,000 households and drinking water to over 634,000 households; (5) improved housing for over 266,000 households; (6) supported approximately 627,000 women through economic empowerment initiatives; (6) created almost 175,000 jobs through IDB supported firms and provided on-the-job training to almost 544,000 individuals; (7) built, maintained or upgraded 4,181 km of roads; (8) ensured 100% of installed power generation capacity was from renewable energy and reduced close to 8.5 million tonnes of greenhouse gas emissions; (9) helped over 812,000 beneficiaries improve the management and sustainable use of natural capital; (10) trained or assisted over 62,000 public and private sector professionals in trade and investment; (11) financed more than 967,000 micro, small, and medium sized enterprises (MSMEs) and provided non-financial support to almost 184,000 MSMEs; (12) supported 123 government agencies to improve public service delivery through projects that strengthen technological and managerial tools; and (13) supported 470 subnational governments in Latin America and the Caribbean through citizen security projects.

Financials

Financials


Original budget $2,924,990
Planned Disbursement $3,208,759
Transactions
Country Percentages by Sector
Related information

Related information

Support to the Inter-American Investment Corporation (IIC) - IDB Invest 2016-2025 - Related information
Related links
Partner website — IIC – Inter-American Investment Corporation
Global Affairs Canada
MFM Global Issues & Dev.Branch
Encashment basis
Multilateral
Core contributions to multilateral institutions
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