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The Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB) Group, is the largest provider of technical assistance for private-sector development in Latin America and the Caribbean. Our core beneficiaries include micro and small businesses, small farms, and poor and vulnerable households.
We design and finance pilot projects to test pioneering approaches to building economic opportunity and decreasing poverty. We evaluate the results and the impactof our projects to identify replicable solutions that can be scaled up by the public and private sectors.
We are committed to sharing the lessons learned from our work so that others can benefit.
Using small projects, we have achieved sustainable transformation in the thinking and behavior of people, policymakers, organizations, and businesses in areas such as microfinance, remittances, venture capital, and training for youth.
The MIF was created in 1993 by 21 donor countries. Sixty-five percent of the financing we provide is in the form of grants, 25 percent is equity, and 10 percent is loans. We provide the loan and equity alone or in combination with grants—as well as expert advice. With this wide variety of tools and more than 20 years of experience in the field, we have the flexibility required to tailor solutions to the unique challenges in Latin America and the Caribbean.
We have financed more than $2 billion in grants and investments for private sector development projects. In all, we have funded more than 1,800 MIF projects with various partners.
Funds for our activities come from contributions made by our member countries—now totaling 39—in Latin America and the Caribbean, North America, Europe, and Asia.
We work on the ground and in partnership—with local, mostly private partners—to help fund and carry out pilot projects. Altogether, we have worked with more than 2,000 local partners, most of which had never previously worked with a development bank. Our partners contribute both a significant portion of the project costs and on-the-ground resources to implement operations.
We also work with global partners that share our goals, such as corporations, foundations, and other multilateral organizations. They pool their financial and other resources with ours to jointly solve development challenges.
In addition, we invest in private financial institutions, which lend the resources to micro and small businesses, and in the rapidly developing venture capital and impact investment industries in Latin America and the Caribbean. Nearly half our staff works out of IDB Group offices in 26 countries in the region. We monitor each project throughout its active stages, perform a thorough evaluation once it is complete, and share lessons learned. Once each pilot is completed, we provide knowledge and tools for the IDB Group or others to scale it up, or to adapt and replicate it for different communities and sectors.
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