St. Louis Map on Loans for the reform and modernization of the state in 2001 accounted for 30 percent of all loans that year, whereas they were only 17 percent for the period 19612001. Other innovations include setting aside up to 5 percent of the bank’s portfolio for private sector lending without government guarantee and the establishment of a $10 billion special operations fund to lend to lesser-developed nations at lower-than-market rates. The IDB gives priority to projects that enhance competitiveness, integration into the global economy, modernization of the state and social development, a strategy that purportedly leads to its two primary objectives, SUSTAINABLE DEVELOPMENT and poverty reduction. The marked adoption of neo-liberal strategies has made the IDB the target of protests more commonly associated with the World Bank and the INTERNATIONAL MONETARY FUND (IMF). The weakness of Latin American economies since the mid-1990s has placed the bank in a difficult position. When ARGENTINA briefly ceased payments to multilateral organizations in late 2002, the IDB faced the possibility of having its credit rating downgraded given an exposure of 15.1 percent of its loan portfolio in that country. St. Louis Map 2016.
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