Which bank is known for funding development projects in Latin America?

The Inter-American Development Bank is specifically focused on funding and aiding development projects in Latin America and the Caribbean. Established in 1959, its primary mission is to accelerate economic and social development in the region. This institution provides financial and technical support for various initiatives, including infrastructure development, poverty reduction, education, and healthcare systems.

While the World Bank also contributes to development projects globally, including in Latin America, its broader focus spans many countries and regions, making it less specialized than the Inter-American Development Bank in the Latin American context. The Asian Development Bank primarily serves the Asia-Pacific region, thus not fitting the criteria for projects specifically in Latin America. The Development Bank of Latin America, while relevant, is less commonly recognized compared to the Inter-American Development Bank and may not have as extensive a reach or influence as the latter in terms of funding key projects in the region.