The Inter-American Development Bank (IDB) has opened today its European office in Madrid.
The IDB had two offices outside of the American continent, located in France (Paris) and Japan (Tokyo). The Bank has just transferred its office from Paris to Madrid due to the significant volume of operations between Spain and Latin America, the close relations between Spain and the region and the support from the Government of Spain.
Under this agreement, Spain offers the IDB a suitable framework for it to carry on and extend its activities in Spain and in Europe.
The strategic association between the two regions translates to increasing trade flows, investments, international cooperation, cultural exchanges and other areas.
The IDB is currently the largest multilateral source of funding in the region. It currently has 48 members, including regional and extra-regional members, such as Spain, which has been a member of the IDB since 9 July 1976, together with 15 other European countries.
The new IBD offices in Madrid have been inaugurated on July the 7th 2012.