A Long and Winding Road

At the 1964 annual meeting of the Inter-American Development Bank (IDB) in Panama, Felipe Herrera, then the President of the institution, argued that Cour institution must continue to demonstrate that, being a bank, it is also more than a bank. What is this institution that had the backing of both Latin American countries and the United States, and that since Herrera many have claimed it is more than a bank? And how did it come into existence?