Development Banks Pledge up to $90bn

Five multilateral development banks plan to increase support to Latin America by providing as much as $90bn during the next two years. The IDB, World Bank Group, CAF, Caribbean Development Bank and Cabei are working together to identify partnerships to increase their impact and protect gains of the last 5 years, the banks say. The IDB is expected to provide $29.5bn of the total, the World Bank $35.6bn, CAF $20bn, and Cabei $4.2bn and CBD $500m. The banks did not immediately provide further details.