Calgary to host international bank meeting
Last Updated: Tuesday, September 1, 2009 | 12:41 PM MT
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Calgary will host the annual meeting of the Inter-American Development Bank in 2011, Prime Minister Stephen Harper announced Tuesday.
The bank was created in 1959 to help support economic development in Latin America and the Caribbean through lending and grants.
The exact date of the annual meeting wasn't announced.
"For 50 years the Inter-American Development Bank has been arranging multilateral financing that has … fostered economic, social and institution development throughout Latin America and the Caribbean," said Harper during a speech in Calgary.
"This will be the first time in over 20 years that the bank has held its annual meeting in Canada. The return of the IDB to our country will open doors for all Canadians to do more business in the Americas. And the thousands of bankers, business people and national leaders who are expected to attend the meeting will provide a significant boost to Calgary's hospitality industry."
Canada is a non-borrowing member of the bank. In April, Harper announced that the federal government would temporarily make up to $4 billion available to the bank to increase its lending capacity.
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