Latam development bank rolls out $2 billion fund for private sector

Luis Alberto Moreno said the IADB's shareholders recently approved the fund to help ease poverty and close an infrastructure gap in the region that he put at $150 billion.

"We're going to offer $2 billion for the private sector ... it's going to kickoff in 2016," Moreno told Reuters while attending the Pacific Alliance summit in Peru. "In time, the level of credit should increase."

The IADB mainly lends to governments to promote development and is one of the main sources of financing in Latin America.

Moreno also said the bank plans to finance a total of $13 billion in development projects in Latin America this year, about the same level as last year.

(Reporting By Marco Aquino; Editing by Alan Crosby)