IADB injects 110 mln USD in LatAm business

The Inter-American Development Bank (IADB) has invested heavily in business projects across Latin America and the Caribbean, the regional bank said on Monday. Over the last 18 months, the bank has invested 110 million U.S. dollars in the projects which had strong social impacts, according to Josef Henriquez, head of the IADB's Syndication Unit. He said the investments "are an important source of financing for innovative and profitable business ideas that can help alleviate poverty and improve the quality of life for vulnerable people." The IADB used the money in partnership deals with private investors across the Latin American region.