IDB Board Approves Venezuela Engagement Note
The Inter-American Development Bank approved a country engagement note for Venezuela, marking its first formal roadmap for renewed operations since halting lending in 2018. While not a loan, the step prioritizes restoring growth and vital services.
The Inter-American Development Bank approved a country engagement note for Venezuela on Friday, marking its first formal roadmap since halting new lending in May 2018. The transitional strategy guides operations but does not clear $2.3B in overdue principal and interest owed by Caracas. Clearing arrears remains a strict prerequisite for new IDB loans and guarantees under bank rules.
