Inter-American Foundation (Q601265)

The Inter-American Foundation, or IAF, is an independent agency of the United States government that funds community-led development in Latin America and the Caribbean. It was created through the Foreign Assistance Act of 1969 as an alternative to traditional foreign assistance that operates government-to-government on a much larger scale. The IAF receives its funds through annual appropriations by Congress. Until 2019, the agency also received annual reflows from the Social Progress Trust Fund administered by the Inter-American Development Bank consisting of repayments on U.S. government loans extended under the Alliance for Progress to various Latin American and Caribbean governments. Since beginning operations in 1972, the IAF has awarded more than 5,700 grants worth more than $940 million.