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The A and the B of the IADB
19 May 2010
As with other multilateral financial institutions the IADB has seen activity reaching record levels. One particularly important programme has been the A/B loan structure. Oliver O’Connell speaks with Jozef Henriquez, head of syndications, for an update.
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IADB
syndicated loans IADB
A/B loans
project finance A/B loans
multilaterals infrastructure
In 2009 the Inter-American Development Bank (IADB) set record levels of loan approvals and disbursements, as its counter-cyclical role came to the fore. Celebrating the 50th anniversary of its establishment, the IADB approved 165 new operations totalling $15.9 billion, up from $11.2 billion in 2008, and disbursements rose to nearly $12 billion from $7.6 billion.
The bank made a number of significant moves to counter the effects of the crisis including the largest liability management operation in its history, converting $26 billion in outstanding loans to fixed interest rates and/or dollars, helping borrowers take advantage of historically low dollar interest rates. In addition, the bank acted as a catalyst for investment by mobilising additional resources from other lenders to support major infrastructure projects across the region.
The A/B loan structure is a vital part of any development bank’s toolkit. Not a great deal of adaptation of...
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