The Independent Review and Evaluation System of the Inter-American Development Bank Needs Support

The Inter-American Development Bank was established by international agreement in 1959 to promote the economic development of Latin American member countries. In 1976, the Bank made loans and provided technical assistance of more than $1.5 billion to 20 Latin American countries. The United States has contributed 58 percent of all members' contributions to its financial support. The Secretary of the Treasury has primary responsibility for U.S. participation in the Bank. As a result of a 1967 amendment to the Inter-American Development Bank Act, the Group of Controllers was established to perform independent and comprehensive reviews of Bank operations.