Inter-American Dev - Issue of Debt

RNS Number:6863P
Inter-American Development Bank
07 March 2008

PRICING SUPPLEMENT

Inter-American Development Bank

Global Debt Program

Series No.: 194

GBP32,000,000 Floating Rate Notes due December 20, 2017
(the "Notes")

Issue Price: 100.00 percent

Application has been made for the Notes to be admitted to the
Official List of the United Kingdom Listing Authority and
to trading on the London Stock Exchange plc's
Gilt Edged and Fixed Interest Market

Deutsche Bank

The date of this Pricing Supplement is as of March 5, 2008

This Pricing Supplement ("Pricing Supplement") supplements the terms and
conditions in, and incorporates by reference, the Prospectus dated January 8,
2001, and all documents incorporated by reference therein (the "Prospectus"),
and should be read in conjunction with the Prospectus.

Unless otherwise defined in this Pricing Supplement, terms used herein have the
same meaning as in the Prospectus.

This document is issued to give details of an issue by Inter-American
Development Bank (the "Bank") under its Global Debt Program and to provide
information supplemental to the Prospectus.

Terms and Conditions

The following items under this heading "Terms and Conditions" are the particular
terms which relate to the issue the subject of this Pricing Supplement. These
are the only terms which form part of the form of Notes for such issue.

1. Series No.: 194

2. Aggregate GBP32,000,000.
Principal Amount:

3. Issue Price: GBP32,000,000, which is 100.00 percent of
the Aggregate Principal Amount.

4. Issue Date: March 7, 2008.

5. Form of Notes Bearer only.
(Condition 1(a)):

The Notes will initially be represented
by a temporary global note in bearer form
(the "Temporary Bearer Global Note").
Interests in the Temporary Bearer Global
Note will, not earlier than the Exchange
Date, be exchangeable for interests in a
permanent global note in bearer form (the
"Permanent Bearer Global Note").
Interests in the Permanent Bearer Global
Note will be exchangeable for definitive
Notes in bearer form ("Definitive Bearer
Notes"), in the following circumstances:
(i) if the Permanent Bearer Global Note
is held on behalf of a clearing system
and such clearing system is closed for
business for a continuous period of
fourteen (14) days (other than by reason
of holidays, statutory or otherwise) or
announces its intention to permanently
cease business or does in fact do so, by
any such holder giving written notice to
the Global Agent; and (ii) at the option
of any such holder upon not less than
sixty (60) days written notice to the
Bank and the Global Agent from Euroclear
and Clearstream, Luxembourg on behalf of
such holder; provided that no such
exchanges will be made by the Global
Agent, and no Noteholder may require such
an exchange, during a period of fifteen
(15) days ending on the due date for any
payment of principal on the Notes.
6. Authorized
Denomination(s)
(Condition 1(b)): GBP50,000 or any integral multiple
thereof.

7. Specified
Currency
(Condition 1(d)): Sterling ("GBP") being the lawful
currency of the United Kingdom.

8. Specified
Principal Payment Currency
(Conditions 1(d) and 7(h)): Sterling ("GBP").

9. Specified
Interest Payment Currency
(Conditions 1(d) and 7(h)): Sterling ("GBP").

10. Maturity Date
(Condition 6(a)): December 20, 2017.

11. Interest Basis
(Condition 5): Variable Interest Rate (Condition 5(II)).

12. Interest
Commencement Date
(Condition 5(III)): March 7, 2008.

13. Variable Interest
Rate (Condition 5(II)):

(a) Calculation Amount (if
different than Principal Amount of
the Note): GBP32,000,000.

(b) Business Day Convention: Modified Following Business Day
Convention.

(c) Specified Interest Period: Not Applicable.

(d) Interest Payment Date: Quarterly in arrear on March 20, June 20,
September 20 and December 20 in each
year, commencing on March 20, 2008, and
with a short first coupon on March 20,
2008.

(in respect to the determination of the
Reference Rate for the Interest Period
from and including the Interest
Commencement Date to but excluding March
20, 2008 (being a short first Interest
Period) the Reference Rate shall be
calculated by the Calculation Agent by
linear interpolation between the 1-Week
GBP-LIBOR-BBA and the 2-Week
GBP-LIBOR-BBA).

Each Floating Rate Interest Payment Date
is subject to adjustment in accordance
with the Modified Following Business Day
Convention.

(e) Reference Rate: 3-Month GBP-LIBOR-BBA

3-Month GBP-LIBOR-BBA means the rate for
deposits in GBP for a period of 3 months
which appears on Reuters Screen LIBOR01
(or such other page that may replace that
page on that service or a successor
service) as of the Relevant Time on the
Interest Determination Date;

"Relevant Time" means 11.00 a.m., London
time;

"Interest Determination Date" means the
first London Banking Day of the relevant
Interest Period; and

"London Banking Day" means a day on which
commercial banks are open for general
business, including dealings in foreign
exchange and foreign currency deposits,
in London.

If such rate does not appear on Reuters
Screen LIBOR01 (or such other page that
may replace that page on that service or
a successor service) at the Relevant Time
on the Interest Determination Date, then
the rate for 3-Month GBP-LIBOR-BBA shall
be determined on the basis of the rates
at which deposits in GBP are offered at
the Relevant Time on the Interest
Determination Date by five major banks
in the London interbank market (the
"Reference Banks") as selected by the
Calculation Agent, to prime banks in the
London interbank market for a period of 3
Months commencing on the first day of the
relevant Interest Period and in an amount
that is representative for a single
transaction in the London interbank
market at the Relevant Time. The
Calculation Agent will request the
principal London office of each of the
Reference Banks to provide a quotation of
its rate.

If at least two such quotations are
provided, the rate for 3-Month
GBP-LIBOR-BBA shall be the arithmetic
mean of such quotations. If fewer than
two quotations are provided as requested,
the rate for 3-Month GBP-LIBOR-BBA shall
be the arithmetic mean of the rates
quoted by major banks in London, selected
by the Calculation Agent, at
approximately 11:00 a.m., London time, on
the first day of the relevant Interest
Period for loans in GBP to leading
European banks for a period of 3 months
commencing on the first day of the
relevant Interest Period and in an amount
that is representative for a single
transaction in the London interbank
market at such time.

If no quotation is available or if the
Calculation Agent determines in its sole
discretion that there is no suitable bank
that is prepared to provide the quotes,
the Calculation Agent will determine the
rate for 3-Month GBP-LIBOR-BBA for the
Interest Determination Date in question
in a manner that it deems commercially
reasonable by reference to such
additional resources as it deems
appropriate.

The calculations and determinations of
the Calculation Agent shall (save in the
case of manifest error) be final and
binding upon all parties but all
determinations made by the Calculation
Agent shall be made in good faith.

"1-Week GBP-LIBOR-BBA" shall be
determined as set forth under "3-Month
GBP-LIBOR-BBA" whereby references to
"3-Month" or "3 months" shall be replaced
by references to "1-Week" or "1 week"
respectively.

"2-Week GBP-LIBOR-BBA" shall be
determined as set forth under "3-Month
GBP-LIBOR-BBA" whereby references to
"3-Month" or "3 months" shall be replaced
by references to "2-Week" or "2 weeks"
respectively.
(f) Primary Source for Interest
Rate Quotations for Reference Rate: Reuters.

(g) Calculation Agent: See "7 Identity of Calculation Agent"
under "Other Relevant Terms"
Germany
14. Other Variable
Interest Rate Terms (Conditions 5
(II) and (III)):

(a) Spread: -0.3965 percent.

(b) Variable Rate Day Count Act/365
Fraction if not actual/360:

(c) Relevant Banking Center: London and New York.

15. Relevant Financial Center: London and New York.

16. Relevant Business Day: London and New York.

17. Issuer's Optional
Redemption (Condition 6(e)): No.

18. Redemption at the
Option of the Noteholders
(Condition 6(f)): No.

19. Governing Law: New York.

20. Selling The following should be read in
Restrictions: conjunction with the more complete
description contained in Exhibit D to the
Standard Provisions dated January 8,
2001, which are incorporated by reference
into the Terms Agreement.

Under the provisions of Section 11(a) of
the Inter-American Development Bank Act,
(a) United States: the Notes are exempted securities within
the meaning of Section 3(a)(2) of the
U.S. Securities Act of 1933, as amended,
and Section 3(a)(12) of the U.S.
Securities Exchange Act of 1934, as
amended.

(b) United Kingdom: The Dealer represents, warrants and
agrees that it has complied and will
comply with all applicable provisions of
the Financial Services and Markets Act
2000 with respect to anything done by it
in relation to the Notes in, from or
otherwise involving the United Kingdom.

(c) General: No action has been or will be taken by
the Issuer that would permit a public
offering of the Notes, or possession or
distribution of any offering material
relating to the Notes in any jurisdiction
where action for that purpose is
required. Accordingly, the Dealer agrees
that it will observe all applicable
provisions of law in each jurisdiction in
or from which it may offer or sell Notes
or distribute any offering material.

Other Relevant Terms

1. Listing: Application has been made for the Notes
to be admitted to the Official List of
the United Kingdom Listing Authority and
to trading on the London Stock Exchange
plc's Gilt Edged and Fixed Interest
Market.

2. Details of Clearance System
Approved by the Bank and the
Global Agent and
Clearance and Settlement
Procedures: Euroclear Bank SA/NV; Clearstream
Banking, societe anonyme.

3. Syndicated: No.

4. Commissions and No commissions or concessions are payable
Concessions: in respect of the Notes. The Dealer has
arranged the swap and has been paid a fee
in this respect.
5. Codes:

(a) Common Code: 035169326

(b) ISIN: XS0351693261

(c) CUSIP: Not Applicable

6. Identity of Dealer: Deutsche Bank AG, London Branch

7. Identity of
Calculation Agent Deutsche Bank Aktiengesellschaft
(if not the Global Agent): Grosse Gallusstrasse 10-14
60272 Frankfurt am Main

All determinations of the Calculation
Agent shall (in the absence of manifest
error) be final and binding on all
parties (including, but not limited to,
the Bank and the Noteholders) and shall
be made in its sole discretion in good
faith and in a commercially reasonable
manner in accordance with a calculation
agent agreement between the Bank and the
Calculation Agent.
8. Provisions for Bearer Notes:

a) Exchange Date: Not earlier than April 16, 2008, which is
the date that is 40 days after the Issue
Date
b) Permanent Global Note: Yes

c) Definitive Bearer Notes: No, except in the limited circumstances
described in the Prospectus
d) Individual Definitive
Registered Notes: No

e) Registered Global Notes: No

General Information

Additional Information Regarding the Notes

1. The EU has adopted a Directive regarding the taxation of savings income (the
"Savings Directive"). The Savings Directive requires Member States (as defined
below) to provide to the tax authorities of other Member States details of
payments of interest and other similar income paid by a person to an individual
in another Member State, except that Austria, Belgium and Luxembourg will
instead impose a withholding system for a transitional period unless during such
period they elect otherwise.

The Bank undertakes that it will ensure that it maintains a paying agent in a
country which is a member of the European Union (a "Member State") that will not
be obliged to withhold or deduct tax pursuant to the Savings Directive.

2. United States Federal Income Tax Consequences

A) United States Internal Revenue Service Circular 230 Notice: To ensure
compliance with Internal Revenue Service Circular 230, prospective investors are
hereby notified that: (a) any discussion of U.S. federal tax issues contained or
referred to in this Pricing Supplement, the Prospectus or any other document
referred to herein is not intended or written to be used, and cannot be used by
prospective investors for the purpose of avoiding penalties that may be imposed
on them under the United States Internal Revenue Code; (b) such discussions are
written for use in connection with the promotion or marketing of the
transactions or matters addressed herein; and (c) prospective investors should
seek advice based on their particular circumstances from an independent tax
advisor.

B) The "Tax Matters" section of the Prospectus and any tax disclosure in this
pricing supplement is of a general nature only, is not exhaustive of all
possible tax considerations and is not intended to be, and should not be
construed to be, legal, business or tax advice to any particular prospective
investor. Each prospective investor should consult its own tax advisor as to the
particular tax consequences to it of the acquisition, ownership, and disposition
of the Notes, including the effects of applicable U.S. federal, state, and local
tax laws and non-U.S. tax laws and possible changes in tax laws.

C) Due to a change in law since the date of the Prospectus, the second paragraph
of "-Payments of Interest" under the United States Holders section should be
read as follows: "Interest paid by the Bank on the Notes constitutes income from
sources outside the United States but will, depending on your circumstances, be
"passive" or "general" income which, in either case, is treated separately from
other types of income for purposes of computing the foreign tax credit."

D) Due to a change in law since the date of the Prospectus, the fourth paragraph
of "-Purchase, Sale and Retirement of the Notes" under the United States Holders
section should be read as follows: "Capital gain of a noncorporate United States
holder that is recognized in taxable years beginning before January 1, 2009 is
generally taxed at a maximum rate of 15% where the holder has a holding period
greater than one year.

INTER-AMERICAN DEVELOPMENT BANK

By:_________________________________
Name: Edward R. Bartholomew
Title: General Manager and
Chief Financial Officer,
Finance Department

This information is provided by RNS
The company news service from the London Stock Exchange

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