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Digital Subscriptions > > IDB reorganizes private sector lending

IDB reorganizes private sector lending

Interview: James P. Scriven, CEO of IDB Invest

In January 2016, the Inter-American Development Bank Group (IDB) consolidated its private sector operations in IDB Invest to better serve the region, customers and partners, and to maximise its impact on development. Was it worth the change in your view?

Absolutely. We are living in a new era for development finance. Our target markets and their end-beneficiaries are evolving faster than ever, changing the way they work and the products and services they need. This is most evident in sectors like energy, technology and financial services, which are advancing at exponential rates. For example, Chile went from 20 megawatts of renewable energy in 2008 to 4000 megawatts in 2017 – a two hundred-fold change. Blockchain is proving a secure, transparent and reliable alternative, and fintechs in 2017 transacted US$90 billion in the region, an amount equivalent to the entire GDP of Panama.

We are living in a new era for development finance. Our target markets and their end-beneficiaries are evolving faster than ever, changing the way they work and the products and services they need

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