Canada to host the Inter-American Development Bank Annual Meeting of the Board of Governors 2011

From March 25 to March 28, 2011, Canada will welcome delegates from 48 member countries (26 borrowing, 22 non-borrowing) to the Annual Meeting of the Board of Governors of the Inter-American Development Bank (IDB). The Meeting will be hosted by the Government of Canada in the modern Western Canadian city of Calgary. This is the first time since 1990 that a Canadian city will be hosting this prestigious international financial forum.

The Inter-American Development Bank is the world’s oldest and largest regional development bank. The IDB is the main source of multilateral financing for economic, social and institutional development in Latin America and the Caribbean. Canada has been involved with the Inter-American Development Bank since 1972, and is the third largest non-borrowing shareholder, holding 4 percent of the IDB’s voting power. In April 2009, Canada announced that it would increase temporarily the Inter-American Development Bank’s lending capacity in response to the global financial crisis.

Canada’s Minister of Foreign Affairs sits as representative on The Board of Governors, the highest policy-making body of the IDB. During the annual meeting, the Bank and Governors review results, future challenges and goals to ensure that the IDB continues to be a constructive, effective and sustainable partner in the region. The IDB Annual Meeting is one of the most prestigious international gatherings in the Western Hemisphere.

The Board of Governors of the Inter-American Investment Corporation (IIC) will also meet in Calgary at this time. The IIC supplements the activities of the IDB by encouraging and supporting the establishment, expansion, and modernization of small and medium‑scale private enterprises throughout its regional developing member countries.

Canada’s presence is a key opportunity to have meaningful dialogue with regional heads of government, ministers of finance and development, governors of central banks, as well as representatives from international organizations and financial institutions. The IDB meeting provides a valuable forum for the international community to discuss important issues facing the Americas.

Canadian Commercial Corporation (CCC)
http://ccc.ca/eng/home.cfm

Canadian International Development Agency (CIDA)
http://www.acdi-cida.gc.ca/home

Foreign Affairs and International Trade Canada (DFAIT)
http://international.gc.ca

Export Development Canada (EDC)
http://www.edc.ca/english/index.htm