The Inter-American Development Bank.THE INTER-AMERICAN DEVELOPMENT BANK Inter-American Development Bank (IDB) international organization founded in 1959 by 20 governments in North and South America to finance economic and social development in the Western Hemisphere. , a multilateral lending institution Noun 1. lending institution - a financial institution that makes loans financial institution, financial organisation, financial organization - an institution (public or private) that collects funds (from the public or other institutions) and invests them in , said remittances
Remittances are transfers of money by foreign workers to their home countries. to Latin American and Caribbean countries reached a record US$45.80 billion in 2004, 20% higher than in 2003. During the past three years, remittances have exceeded combined totals of overseas aid and foreign direct investment flowing into the region. |
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