The General Secretariat of the Organization of American States (OAS) and the Inter-American Development Bank (IDB) today signed a framework agreement on procedures that will facilitate synergies between the two institutions in projects and programs aimed at addressing the priorities of the countries of the Americas.
OAS Secretary General Albert R. Ramdin said that "a framework agreement such as this opens the door to more concrete ways of working together and aligning our agendas." Secretary General Ramdin also emphasized that collaboration among inter-American institutions must translate into tangible benefits for member states, citing Haiti as an example of a priority where such coordination can make a meaningful contribution.
For his part, IDB President Ilan Goldfajn stressed that the instrument will make it possible to turn the commitment to cooperate into concrete action. "Now, when we need to work with a country-which is our ultimate goal-we will be able to do so in a more agile and comprehensive manner," added the IDB President.
The agreement establishes the conditions under which the OAS may participate in initiatives financed by the IDB or with third-party resources administered by the Bank. The framework will enable the institutions to coordinate projects in various areas and streamline their implementation through previously agreed procedures governing financial management, procurement, monitoring, reporting, and results evaluation.
The agreement incorporates transparency, integrity, accountability, and oversight mechanisms to ensure the efficient use of resources and the achievement of each project's objectives. By signing the agreement, the OAS and the IDB strengthen their ability to act in a coordinated manner and deliver more timely and effective responses to the needs of the peoples of the Americas.
Reference: FNE-145091
