Featured Stories
SBA Recognizes Innovative CHOICE Arrangements as Major Win for Small Businesses
WASHINGTON, Sept. 4 -- The Small Business Administration issued the following news release on Sept. 3, 2026:
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SBA Recognizes Innovative CHOICE Arrangements as Major Win for Small Businesses
Trump Administration Initiative Expands Health Insurance Affordability, Choice, and Coverage Options for Small Businesses and Workers
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Today, the U.S. Small Business Administration (SBA) joined the U.S. Department of Health and Human Services (HHS) and the Centers for Medicare and Medicaid Services (CMS) to announce CHOICE Arrangements. Formerly known as Individual Coverage Health Reimbursement Arrangements
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WASHINGTON, Sept. 4 -- The Small Business Administration issued the following news release on Sept. 3, 2026:
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SBA Recognizes Innovative CHOICE Arrangements as Major Win for Small Businesses
Trump Administration Initiative Expands Health Insurance Affordability, Choice, and Coverage Options for Small Businesses and Workers
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Today, the U.S. Small Business Administration (SBA) joined the U.S. Department of Health and Human Services (HHS) and the Centers for Medicare and Medicaid Services (CMS) to announce CHOICE Arrangements. Formerly known as Individual Coverage Health Reimbursement Arrangements(ICHRAs), they are a proven tool that enables small employers to offer health benefits at a fraction of the cost of traditional group insurance. CHOICE Arrangements allow businesses to set a predictable monthly budget for health benefits instead of absorbing the rising, unpredictable premiums of group insurance plans.
At an event in Indiana today, SBA Administrator Kelly Loeffler and CMS Administrator Dr. Mehmet Oz unveiled the rebranded program and new resources to help employers understand the cost savings and how to get started.
"The strong leadership of President Trump, Secretary Kennedy, and Dr. Oz has resulted in more affordable health insurance alternatives for America's small businesses through CHOICE Arrangements," said SBA Administrator Kelly Loeffler. "For too long, small employers, which are also America's most effective job creators, have been priced out of a health insurance market where prices only go up and coverage goes down. These plans can change that. Employers set a monthly contribution level, and employees pick the plan that suits their families; it's a win-win. This new, flexible model offers employers greater control over their healthcare costs and offers American workers more freedom to choose coverage that works for them and their families. The SBA is proud to partner with CMS to connect small businesses across the country with this powerful cost-saving tool."
"CHOICE Arrangements let workers choose coverage that meets their unique health care needs which can often offer better options than traditional employer plans," said CMS Administrator Dr. Oz. "I'm excited to partner with Administrator Loeffler to promote this underused option that combines the tax benefits of traditional group plans with the flexibility of purchasing coverage independently. And I urge small business owners across the country to take advantage of the resources we're unveiling today to determine whether a CHOICE Arrangement is the right fit for their workforce."
Established under President Trump's first Administration, ICHRAs created a new alternative to the traditional group health insurance model by allowing employers to provide tax-favored contributions that employees can use to purchase qualified health coverage. Employees have the freedom to select the coverage that fits their family's needs and doctors, rather than being locked into a one-size-fits-all plan.
Under the new CHOICE Arrangements branding, CMS is providing employers with new educational resources and tools designed to make them easier to evaluate and implement, including information to help small businesses understand costs, contribution structures, and third-party administration options.
For small businesses, the benefits of CHOICE Arrangements include:
* Predictable costs. The plans offer a more flexible and predictable approach to providing health benefits by allowing employers to determine their contribution while employees select individual coverage that meets their needs.
* Tax advantages. Employer contributions to CHOICE Arrangements are generally deductible as a business expense, while reimbursements for qualified medical expenses are generally tax-free to employees.
* Lower administrative burden. The model can be especially valuable for small employers seeking an alternative to traditional and complex group coverage, including those seeking to offer benefits for the first time while remaining competitive with larger employers.
* Scalability. Employers of any size with at least one W 2 employee can establish CHOICE Arrangements.
The Administration is pairing greater coverage choice with concrete action to lower healthcare costs and expand access. President Trump's Great Healthcare Plan advances lower prescription-drug prices, reduces insurance premiums, provides stronger insurer accountability, and enhanced price transparency. TrumpRx.gov has delivered savings on more than $700 million in medications, while the Working Families Tax Cuts Act created the historic $50 billion Rural Health Transformation Program through CMS to strengthen rural health systems and expand access to care nationwide. Together, these policies are giving America's small businesses, workers, and families more choice, lower costs, and better access to care.
The SBA encourages small business owners to visit our CHOICE Arrangements website or www.cms.gov/choicearrangements to learn more.
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About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of entrepreneurship. As the leading voice for small businesses within the federal government, the SBA empowers job creators with the resources and support they need to start, grow, and expand their businesses or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.
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Original text here: https://legacy.sba.gov/article/2026/09/03/sba-recognizes-innovative-choice-arrangements-major-win-small-businesses
Report Finds SSA Could Improve the Administration of Its Programs by Modernizing Its Data-Matching Systems
WOODLAWN, Maryland, Sept. 4 (TNSxrep) -- The Social Security Administration Office of the Inspector General issued the following news release:
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Report Finds SSA Could Improve the Administration of its Programs by Modernizing its Data-Matching Systems
Outdated matching rules left millions of external records unverified - limiting SSA's ability to prevent improper payments
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A new report from the Social Security Administration (SSA) Office of the Inspector General (OIG) concluded SSA could increase verified matches for data the Agency receives from external parties and improve the administration
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WOODLAWN, Maryland, Sept. 4 (TNSxrep) -- The Social Security Administration Office of the Inspector General issued the following news release:
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Report Finds SSA Could Improve the Administration of its Programs by Modernizing its Data-Matching Systems
Outdated matching rules left millions of external records unverified - limiting SSA's ability to prevent improper payments
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A new report from the Social Security Administration (SSA) Office of the Inspector General (OIG) concluded SSA could increase verified matches for data the Agency receives from external parties and improve the administrationof its programs by enhancing the criteria it uses in its Numident verification systems.
Through over 3,400 data-exchange agreements, SSA obtains information from external parties--such as prisons, the Internal Revenue Service, and state agencies--to administer its programs. The data is critical to helping SSA maintain accurate beneficiary records and prevent improper payments.
SSA uses various methods to verify information, including electronically comparing external data with the Numident--the Agency's database containing personally identifiable information for all individuals assigned Social Security numbers. The Agency's Numident verification systems help ensure the Agency correctly associates the information it receives through data exchanges with the appropriate individuals' records.
The OIG reviewed four Numident verification systems which--between FY 2021 and 2025--processed 13.9 billion transactions involving data SSA received from external sources. For 1.3 billion of these transactions, SSA's systems determined the personally identifiable information associated with the external data did not match SSA's records. The auditors focused their review on these nonmatches to determine whether improvements could be made.
The OIG sampled some of these nonmatches and found some of SSA's automated systems failed to verify incoming data when minor name discrepancies were present--even though existing manual verification tolerances or criteria used in other SSA systems would have concluded the data, in fact, matched. Some of the incoming data could have been verified using enhanced criteria or advanced analytics similar to those used by other federal agencies.
"Ensuring SSA can accurately identify and match incoming data is fundamental to maintaining the integrity of its programs," said Michelle L. Anderson, Assistant Inspector General for Audit as First Assistant. "Enhancing these systems will not only improve accuracy--it will reduce manual workloads, strengthen program administration, and help prevent improper payments."
The report notes even a modest improvement--a one percent increase in verified matches--could result in millions of additional accurate matches annually.
The OIG also found inconsistencies in the way SSA components applied matching criteria across various verification systems. Because systems were developed and managed independently, matching standards varied, leading to avoidable nonmatches and inefficient processing. In addition, SSA has not routinely assessed risks or updated system criteria to address evolving program needs.
SSA plans to consolidate several Numident verification systems into a centralized platform, but system owners have not developed plans to strengthen the current matching criteria. The OIG emphasized refining those criteria, guided by formal risk assessments, will be essential to improving the impact of SSA's data exchanges.
The OIG recommended that SSA:
* Establish processes to ensure Agency components collaborate when developing and maintaining matching criteria.
* Conduct periodic risk assessments and enhance criteria where appropriate to increase verified matches and improve the integrity of SSA's programs.
SSA agreed with the recommendations and stated it will implement them.
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Original text here: https://oig.ssa.gov/news-releases/2026-09-03-report-finds-ssa-could-improve-the-administration-of-its-programs-by-modernizing-its-data-matching-systems/
Martin Puryear, Ann Temkin and the Helen Frankenthaler Foundation Announced as Distinguished Honorees for Archives of American Art's Annual Gala
WASHINGTON, Sept. 4 -- The Smithsonian Institution issued the following news release on Sept. 3, 2026:
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Martin Puryear, Ann Temkin and the Helen Frankenthaler Foundation Announced as Distinguished Honorees for Archives of American Art's Annual Gala
Gala Honors Visionary Leaders Who Have Shaped the Story of American Art
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The Smithsonian's Archives of American Art has named the distinguished honorees for its upcoming annual fall gala. At the evening celebration Thursday, Sept. 17, the Archives' highest honors will be presented to three recipients--Martin Puryear, Ann Temkin and the Helen
... Show Full Article
WASHINGTON, Sept. 4 -- The Smithsonian Institution issued the following news release on Sept. 3, 2026:
* * *
Martin Puryear, Ann Temkin and the Helen Frankenthaler Foundation Announced as Distinguished Honorees for Archives of American Art's Annual Gala
Gala Honors Visionary Leaders Who Have Shaped the Story of American Art
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The Smithsonian's Archives of American Art has named the distinguished honorees for its upcoming annual fall gala. At the evening celebration Thursday, Sept. 17, the Archives' highest honors will be presented to three recipients--Martin Puryear, Ann Temkin and the HelenFrankenthaler Foundation. The Smithsonian's Archives of American Art has named the distinguished honorees for its upcoming annual fall gala. At the evening celebration Thursday, Sept. 17, the Archives' highest honors will be presented to three recipients--Martin Puryear, Ann Temkin and the Helen Frankenthaler Foundation--in recognition of their outstanding contributions as leading American artists and art advocates.
Puryear will receive an Archives of American Art Medal, Temkin will receive the Lawrence A. Fleischman Award for Scholarly Excellence in the Field of American Art History and the Helen Frankenthaler Foundation will receive the Archives of American Art Award for Philanthropic Leadership.
"For decades, our honorees have generously shared their gifts of transformative vision with the public and reimagined ways of making and interpreting art," said Anne Helmreich, director of the Archives of American Art. "We are thrilled to have this opportunity to recognize and thank them."
The 2026 Archives of American Art Gala will take place Thursday, Sept. 17, at the Rainbow Room in New York City. The festive evening will begin with cocktails at 6:30 p.m. followed by the program and dinner at 7:30 p.m. For more information about the gala and the Archives of American Art, visit its website or contact the Archives directly at AAAGala@si.edu.
Recipient of the Archives of American Art Medal
Puryear is an American sculptor renowned for his elegant, handcrafted works that combine traditional woodworking techniques with modern abstract forms. Drawing inspiration from a wide range of cultural, architectural and craft traditions, Puryear creates sculptures that emphasize material, form and meticulous craftsmanship. Over six decades, his work has been exhibited internationally and is held in the collections of major museums around the world. He is widely regarded as one of the most influential contemporary sculptors of his generation.
Puryear was born in 1941 in Washington, D.C., and studied at the Catholic University of America, the Royal Swedish Academy of Arts and Yale University. He was the recipient of a Guggenheim Fellowship in 1982, a MacArthur Foundation Award in 1989 and the National Medal of Arts from President Barack Obama in 2011. In 2019, Puryear represented the United States at the 58th Venice Biennale.
Puryear's current traveling exhibition, "Martin Puryear: Nexus," will open at the High Museum of Art in Atlanta Friday, Sept. 25.
Recipient of the Lawrence A. Fleischman Award for Scholarly Excellence in the Field of American Art History
Temkin is the Marie-Josee and Henry Kravis Chief Curator of Painting and Sculpture at The Museum of Modern Art (MoMA). Her distinguished history of exhibitions and scholarship encompasses retrospectives of artists, including Marcel Duchamp, Robert Gober, Donald Judd, Alice Neel and Barnett Newman. Under her leadership, MoMA's holdings of paintings and sculpture have dramatically broadened in scope and viewpoint. Temkin also has focused on the transformation of the museum's collection galleries from a siloed and authoritative narrative into an interdisciplinary and continually renewing presentation, designed as ongoing conversations providing a multiplicity of histories and perspectives. Temkin is co-editor of Inventing the Modern: Untold Stories of the Women Who Shaped The Museum of Modern Art (2024), a revelatory account of the museum's early years. Before joining MoMA in 2003, Temkin was the Muriel and Philip Berman Curator of Modern and Contemporary Art at the Philadelphia Museum of Art. A member of the American Academy of Arts and Sciences, she received a Bachelor of Arts from Harvard University and a doctorate in the history of art from Yale University.
Recipient of the Archives of American Art Award for Philanthropic Leadership
Established and endowed by Helen Frankenthaler during her lifetime, the Helen Frankenthaler Foundation is dedicated to promoting greater public interest in, and understanding of, the visual arts through a range of philanthropic, educational, curatorial and research initiatives. Since becoming active in 2013, the foundation's philanthropic practice has awarded more than $65 million in grants to museums, universities and arts organizations, from multiyear initiatives to rapid-response support in moments of crisis.
The foundation supports exhibitions and publications broadly focused on modern and contemporary art; sustains fellowships and educational programs in art history, studio practice and curatorial training; and collaborates with peer funders and national arts organizations on initiatives that strengthen the field. Alongside this work, the foundation has expanded its program of gifts and loans of Frankenthaler's work to cultural institutions worldwide. As the primary resource on the artist, it stewards an extensive collection of her artwork and archives while making these resources available to scholars, students, artists and the greater public.
Presenters and Guests
Distinguished curator and scholar Ruth Fine and past recipient of the Lawrence A. Fleischman Award for Scholarly Excellence in the Field of American Art History will present the award to Puryear; businesswoman and collector Pamela J. Joyner will present the award to Temkin; and Lisa Phillips, director emeritus at the New Museum, will present the award to the Helen Frankenthaler Foundation.
Also in attendance that evening will be Ronald Lauder, Jo Carole Lauder and Eden Rafshoon of the Foundation for Art and Preservation in Embassies; Lise Motherwell, director and chair of the Helen Frankenthaler Foundation; Barbara Castelli, president of Castelli Gallery; artists Kiki Smith and Clifford Ross; and others.
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About the Gala
The Archives of American Art's annual gala, launched in 1984, recognizes those who exemplify, at the highest level, lasting contributions to the field of American art. Past honorees include Alex Katz, Adam D. Weinberg, Senga Nengudi, Richard Tuttle, Ann Philbin, Chuck Close, the Ford Foundation, Agnes Gund, the Roy Lichtenstein Foundation, Glenn Ligon, Richard J Powell, Lowery Stokes Sims and Alice L. Walton.
Amanda Quinn Olivar and Migs Wright serve as co-chairs of the gala committee, which also includes fellow members of the Archives of American Art's advisory board Hannah Byers, Yng-Ru Chen, Torrey Cope, Diane A. Fogg and George Frederick Mead Merck.
Proceeds from this signature annual fundraising event provide support for the Archives' critically important and singular mission.
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About the Archives of American Art
The Archives of American Art, a part of the Smithsonian Institution, is the world's largest resource dedicated to collecting, preserving, and making accessible primary sources documenting the history of the visual arts in the United States. Since its founding in 1954, the Archives of American Art has collected over 30 million items that enliven the extraordinary human stories behind America's art and artists.
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Original text here: https://www.si.edu/newsdesk/releases/martin-puryear-ann-temkin-and-helen-frankenthaler-foundation-announced
IDB Program to Strengthen Sanitation and Protect Water Resources in Panama
WASHINGTON, Sept. 4 -- The Inter-American Development Bank issued the following news release:
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New IDB Program to Strengthen Sanitation and Protect Water Resources in Panama
The Board of Executive Directors of the Inter-American Development Bank (IDB) approved a $95 million investment loan to improve environmental conditions in the Panama Metropolitan Area and the Districts of Arraijan and La Chorrera, while supporting the implementation of Panama's Sustainable Financing Framework.
The program will directly benefit approximately 310,000 people through expanded access to sanitation services.
The
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WASHINGTON, Sept. 4 -- The Inter-American Development Bank issued the following news release:
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New IDB Program to Strengthen Sanitation and Protect Water Resources in Panama
The Board of Executive Directors of the Inter-American Development Bank (IDB) approved a $95 million investment loan to improve environmental conditions in the Panama Metropolitan Area and the Districts of Arraijan and La Chorrera, while supporting the implementation of Panama's Sustainable Financing Framework.
The program will directly benefit approximately 310,000 people through expanded access to sanitation services.
Theoperation will support a series of initiatives in Panama Bay and the Metropolitan Area, including:
* Rehabilitation of the Amador sanitary sewerage system;
* Design and construction of sanitation infrastructure in areas surrounding Condado del Rey;
* Design, construction, operation, and maintenance of the Caimito wastewater treatment plant and the Dos Lineas facilities (Phase 1); and
* Complementary works to promote the reuse of by-products from the Juan Diaz wastewater treatment plant.
The project will also continue supporting the design and construction of the Matansillo River main interceptor, as well as project management, technical assistance, and supervision for the design, construction, operation, and maintenance of the wastewater collection, conveyance, and treatment system serving West Arraijan and La Chorrera.
In addition, the funds will finance the upgrading of the Interactive Environmental Education Center and provide training to the Panama Sanitation Program Coordinating Unit (UCPSP) in contract management and risk management focused on the design of climate-resilient sanitation projects.
The area's overall population will benefit indirectly from improved watercourses, while the UCPSP will strengthen its institutional capacity in project management, risk management, and environmental sustainability.
This is the first individual operation under a $210 million Conditional Credit Line for Investment Projects (CCLIP), which aims to help improve sanitary and environmental conditions in the provinces of Panama and West Panama.
The $95 million loan has an 18-year repayment term, a 6.5-year grace period, an interest rate based on SOFR, and a local counterpart contribution of $172.4 million.
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About the IDB
The Inter-American Development Bank (IDB), a member of the IDB Group, is devoted to improving lives across Latin America and the Caribbean. Founded in 1959, the IDB works with the region's public sector to design and enable impactful, innovative solutions for sustainable and inclusive development. Leveraging financing, technical expertise, and knowledge, it promotes growth and well-being in 26 countries.
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Original text here: https://www.iadb.org/en/news/new-idb-program-strengthen-sanitation-and-protect-water-resources-panama
IDB Approves $500 Million Budget Support for Ecuador to Strengthen Macroeconomic Stability
WASHINGTON, Sept. 4 -- The Inter-American Development Bank issued the following news release:
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IDB Approves $500 Million Budget Support for Ecuador to Strengthen Macroeconomic Stability
The Board of Executive Directors of the Inter-American Development Bank (IDB) approved a $500 million Special Development Loan (SDL) for Ecuador to help the country advance reforms and measures that promote macroeconomic stability.
The operation, part of an IMF-led package of international support, will allow the country to proceed with structural reforms to improve its fiscal sustainability while protecting
... Show Full Article
WASHINGTON, Sept. 4 -- The Inter-American Development Bank issued the following news release:
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IDB Approves $500 Million Budget Support for Ecuador to Strengthen Macroeconomic Stability
The Board of Executive Directors of the Inter-American Development Bank (IDB) approved a $500 million Special Development Loan (SDL) for Ecuador to help the country advance reforms and measures that promote macroeconomic stability.
The operation, part of an IMF-led package of international support, will allow the country to proceed with structural reforms to improve its fiscal sustainability while protectingfinancing for social programs that benefit poor and vulnerable segments of the population. Additionally, the loan will allow the country to bolster its dollar currency reserves, promoting the stability of its money market.
The IDB's Special Development Loan is for a period of seven years, a grace period of three years and an interest rate based on SOFR.
This operation is part of the IDB Group's broader support for Ecuador's Growth Agenda. In July, IDB Group President Ilan Goldfajn, announced $7.5 billion in support from the institution to accompany Ecuador's development over the next five years.
This financial package could reach up to $10.5 billion, depending on the evolution of enabling conditions for investment and implementation. The IDB Group comprises the IDB, IDB Invest and IDB Lab.
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About the IDB
The Inter-American Development Bank (IDB), a member of the IDB Group, is devoted to improving lives across Latin America and the Caribbean. Founded in 1959, the Bank works with the region's public sector to design and enable impactful, innovative solutions for sustainable and inclusive development. Leveraging financing, technical expertise, and knowledge, it promotes growth and well-being in 26 countries. Visit our website: https://www.iadb.org/en
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Original text here: https://www.iadb.org/en/news/idb-approves-500-million-budget-support-ecuador-strengthen-macroeconomic-stability
Federal Home Loan Bank of Des Moines Announces Appointment of New President and Chief Executive Officer
WASHINGTON, Sept. 4 -- The Federal Home Loan Banks Office of Finance issued the following news release on Sept. 3, 2026:
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Federal Home Loan Bank of Des Moines Announces Appointment of New President and Chief Executive Officer
The Federal Home Loan Bank (FHLBank) of Des Moines announced today that its board of directors has appointed Wil W. Osborn as president and chief executive officer, effective October 1, 2026.
Mr. Osborn currently serves as the FHLBank of Des Moines' chief business officer. Prior to joining the FHLBank of Des Moines in 2020, he served as senior vice president and chief
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WASHINGTON, Sept. 4 -- The Federal Home Loan Banks Office of Finance issued the following news release on Sept. 3, 2026:
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Federal Home Loan Bank of Des Moines Announces Appointment of New President and Chief Executive Officer
The Federal Home Loan Bank (FHLBank) of Des Moines announced today that its board of directors has appointed Wil W. Osborn as president and chief executive officer, effective October 1, 2026.
Mr. Osborn currently serves as the FHLBank of Des Moines' chief business officer. Prior to joining the FHLBank of Des Moines in 2020, he served as senior vice president and chieffinancial officer of the FHLBank of Topeka, a position he held since 2010.
Mr. Osborn also served in various investment management and performance measurement roles in the banking and credit union industry.
For additional information, see the FHLBank of Des Moines' Form 8-K filing on the U.S. Securities and Exchange Commission website, www.sec.gov.
Created by Congress in 1932, the FHLBanks have served as a vital source of liquidity to their members throughout the economic cycles, supporting housing finance and community development across the United States. Please contact Tom Heinle at (703) 467-3646 or theinle@fhlb-of.com for additional information.
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Original text here: https://www.fhlb-of.com/news/federal-home-loan-bank-of-des-moines-announces-appointment-of-new-president-and-chief-executive-officer/
Bogota to Strengthen Solid Waste Management and Fiscal Sustainability With IDB Support
WASHINGTON, Sept. 4 -- The Inter-American Development Bank issued the following news release:
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Bogota to Strengthen Solid Waste Management and Fiscal Sustainability with IDB Support
The Board of Executive Directors of the Inter-American Development Bank (IDB) approved a $149.25 million Results-Based Loan (RBL) and a $750,000 nonreimbursable investment grant to enhance Bogota's resilience and fiscal sustainability in Colombia.
The program will strengthen integrated solid waste management, improve public spaces, and increase locally generated revenue through cadastral modernization.
The
... Show Full Article
WASHINGTON, Sept. 4 -- The Inter-American Development Bank issued the following news release:
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Bogota to Strengthen Solid Waste Management and Fiscal Sustainability with IDB Support
The Board of Executive Directors of the Inter-American Development Bank (IDB) approved a $149.25 million Results-Based Loan (RBL) and a $750,000 nonreimbursable investment grant to enhance Bogota's resilience and fiscal sustainability in Colombia.
The program will strengthen integrated solid waste management, improve public spaces, and increase locally generated revenue through cadastral modernization.
Theoperation will finance urban revitalization interventions in public spaces, the implementation of systems and services for the collection, treatment, and recovery of solid waste under a circular economy approach, and initiatives supporting waste pickers, including access to District service offerings and Temporary Collection and Sorting Centers.
The project will also optimize cadastral updating and maintenance processes, improve the geographic data of Bogota's Spatial Data Infrastructure (IDECA), and automate frequently used administrative procedures, among other activities.
The program will benefit approximately 520,000 households in intervention areas through urban revitalization efforts and 5,128 waste pickers through targeted affirmative actions. It will also improve the efficiency and quality of cadastral services for users and enable the recovery of more than 300,000 tons of waste from informal dumping sites.
Additionally, Bogota's residents as a whole will indirectly benefit from strengthened special waste collection services and improved fiscal management.
This is the second operation under the IDB Cities and Regions Program, which seeks to enhance the creditworthiness of subnational governments, including through stronger fiscal management, improved project execution capacity, and better delivery of public services and infrastructure. The program's first operation was approved for Cartagena de Indias in late 2025, with investments aimed at strengthening urban resilience and expanding drainage, water supply, and sanitation services.
The approval for Bogota comes as the city hosts the IDB Mayors Summit 2026, which brings together local leaders from Latin America and the Caribbean to exchange experiences and promote solutions that advance more sustainable and resilient cities.
The $149.25 million loan has a repayment term of up to 14.5 years, a grace period of 3.5 years, and an interest rate based on market conditions.
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About the IDB
The Inter-American Development Bank (IDB), a member of the IDB Group, is devoted to improving lives across Latin America and the Caribbean. Founded in 1959, the IDB works with the region's public sector to design and enable impactful, innovative solutions for sustainable and inclusive development. Leveraging financing, technical expertise, and knowledge, it promotes growth and well-being in 26 countries.
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Original text here: https://www.iadb.org/en/news/bogota-strengthen-solid-waste-management-and-fiscal-sustainability-idb-support
