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The IDB is today the main source of multilateral financing for economic, social and institutional development in Latin America and the Caribbean as well as for regional integration. It provides loans, grants, guarantees, policy advice and technical assistance to the public and private sectors in its Latin American and Caribbean borrowing member countries. Fulfilling a longstanding Latin American aspiration, the IDB was established in 1959 with bold mandates and novel tools that made it a model for other regional development banks. The Inter-American Development Bank Group comprises three institutions: the Inter-American Development Bank, the Inter-American Investment Corporation and the Multilateral Investment Fund, all with headquarters in Washington, D.C.