IDB launches new credit facility

The Inter-American Development Bank has launched a new 600 million credit facility to help countries in Latin America and the Caribbean better cope with natural disasters.



The loans will provide member countries with funds to cover urgent needs after a major natural disaster, until other sources of funding can be accessed.



All member countries will be eligible for loans of up to $100 million or one percent of their Gross Domestic Product (GDP), whichever is less.