AIB Bank N.V. joins ALIDE as a member
- The development bank supports new, long-term investments and promotes Aruba’s economic development.
June 30, 2022- AIB Bank N.V. of Aruba joined the Latin American Association of Development Financing Institutions (ALIDE) as a new active member at the Association’s Fifty-second General Assembly Meeting, with a view to becoming part of the region’s network of banks and financial institutions working to advance the economic and social development of Latin America and the Caribbean.
The institution is the seventh Caribbean bank to join ALIDE. It was founded on October 20, 1987 as the Aruban Investment Bank by the government of Aruba and several private institutions and opened its doors on June 6, 1988. Its current CEO is Frendsel Giel.
The organization’s purpose is to support new investments in Aruba, foster the growth of the private sector and promote Aruba’s economic development.
The bank has invested in a number of projects like Arugas N.V. and the restoration of the John F. Kennedy Education Center. It has also provided financing and advisory assistance to small enterprise projects in the tourism, real estate, manufacturing and agroindustry sectors. AIB Bank N.V’s. membership in ALIDE will make it possible to strengthen relations between the Latin American and Caribbean banking systems. The Aruban institution will also be able to establish closer links with more than 80 member institutions, both national and regional and extraregional.
ALIDE is the community of financial institutions that generates banking solutions for the development of Latin America and the Caribbean. Founded in 1968, its main objective is to contribute to the economic and social development of the region, through the good practices in development financing that it promotes among its associates, about 90 institutions with a presence in more than 20 Latin American countries and other regions of the world.