Independent Consultation and Investigation Mechanism
Inter-American Development Bank
Name: Inter-American Development Bank
Year Founded: 1959
Regions: Latin America and the Caribbean
The IDB is a regional development bank, established in 1959, that provides loans, grants and guarantees to both the public and private sector in 26 Latin American and Caribbean countries. Its mission is to reduce poverty and inequality, and promote sustainable development in those regions. Three institutions make up the IDB Group: the Inter-American Development Bank, the Inter-American Investment Corporation, and the Multilateral Investment Fund.
The IDB’s Independent Consultation and Investigation Mechanism (MICI) became operational in 2010, but its governing policy and the structure of the office significant changed in December 2014. MICI has two functions:
Consultation Phase: in which parties have an opportunity to address concerns in a voluntary, flexible and collaborative manner; and
Compliance Review Phase: in which independent experts investigate the IDB’s compliance with its social and environmental policies and whether such non-compliance has caused harm to complainants.
IDB Independent Consultation and Investigation Mechanism