IADB governors agree capital increase terms

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22 July 2010

Member countries provide strategic vision and accountability framework; bank will expand support to small and vulnerable countries and triple support for trade and integration.

At the end of a 60-day voting period, the board of governors of the Inter-American Development Bank offered broad support for the approval of the financial terms for a $70 billion increase of the bank’s ordinary capital. This would be the largest expansion of resources in the IADB’s history.

Once the vote is formally tallied, the agreement initiates the process for member countries to individually approve the resolutions implementing the capital increase.

Upon completion of this process, the capital increase would...

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Poll

Will Russia’s recent ban on grain exports result in a significant rise in private risk insurance claims from grain traders unable to fulfil their contracts?

Yes – there will be more claims. The government’s actions allow traders, with PRI cover, to make claims through contract frustration.

No - the majority of Russia’s wheat production, some 70%-80%, is used for domestic consumption so the contracts represent only a small portion of the total wheat market, limiting the amount of potential claims.

23%

No - traders had a week’s notice before the ban allowing them to secure alternative supplies to fulfil contracts stated as optional origin.

23%

Maybe - but claims are likely to be limited to traders dealing in soft wheat whose contracts demand they source wheat only from Russia.

46%