Distribution Report by Development Bank - Form DSTRBRPT

File No. 83-1

Regulation IA

Rule 3

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

100 F Street, NE

Washington, D.C. 20549

REPORT OF

THE INTER-AMERICAN DEVELOPMENT BANK

(the "Bank")

In respect of the Bank's

Series No. 869, Tranche No. 09

INR4,250,000,000 7.00 percent Notes due April 17, 2033, as from November 4, 2024 to be consolidated and form a single series with each of the Bank's INR4,250,000,000 7.00 percent Notes due April 17, 2033 issued on April 17, 2023 (Series No. 869, Tranche No. 01), the Bank's INR4,250,000,000 7.00 percent Notes due April 17, 2033 issued on July 12, 2023 (Series No. 869, Tranche No. 02), the Bank's INR3,500,000,000 7.00 percent Notes due April 17, 2033 issued on September 8, 2023 (Series No. 869, Tranche No. 03), the Bank's INR1,700,000,000 7.00 percent Notes due April 17, 2033 issued on March 19, 2024 (Series No. 869, Tranche No. 04), the Bank's INR1,800,000,000 7.00 percent Notes due April 17, 2033 issued on July 3, 2024 (Series No. 869, Tranche No. 05), the Bank's INR5,000,000,000 7.00 percent Notes due April 17, 2033 issued on July 30, 2024 (Series No. 869, Tranche No. 06), the Bank's INR2,750,000,000 7.00 percent Notes due April 17, 2033 issued on September 20, 2024 (Series No. 869, Tranche No. 07), and the Bank's INR2,750,000,000 7.00 percent Notes due April 17, 2033 issued on October 18, 2024 (Series No. 869, Tranche No. 08)

Filed pursuant to Rule 3 of Regulation IA

Dated: November 4, 2024

File No. 83-1

Regulation IA

Rule 3

The following information is filed pursuant to Rule 3 of Regulation IA in respect of the issuance by the Bank of INR4,250,000,000 7.00 percent Notes due April 17, 2033, Series No. 869, Tranche No. 09 (the "Notes"), as from November 4, 2024 to be consolidated and form a single series with each of the Bank's INR4,250,000,000 7.00 percent Notes due April 17, 2033 issued on April 17, 2023 (Series No. 869, Tranche No. 01), the Bank's INR4,250,000,000 7.00 percent Notes due April 17, 2033 issued on July 12, 2023 (Series No. 869, Tranche No. 02), the Bank's INR3,500,000,000 7.00 percent Notes due April 17, 2033 issued on September 8, 2023 (Series No. 869, Tranche No. 03), the Bank's INR1,700,000,000 7.00 percent Notes due April 17, 2033 issued on March 19, 2024 (Series No. 869, Tranche No. 04), the Bank's INR1,800,000,000 7.00 percent Notes due April 17, 2033 issued on July 3, 2024 (Series No. 869, Tranche No. 05), the Bank's INR5,000,000,000 7.00 percent Notes due April 17, 2033 issued on July 30, 2024 (Series No. 869, Tranche No. 06), the Bank's INR2,750,000,000 7.00 percent Notes due April 17, 2033 issued on September 20, 2024 (Series No. 869, Tranche No. 07), and the Bank's INR2,750,000,000 7.00 percent Notes due April 17, 2033 issued on October 18, 2024 (Series No. 869, Tranche No. 08), under the Bank's Global Debt Program. The Notes are being issued pursuant to: the Prospectus dated July 28, 2020 (the "Prospectus") and the Standard Provisions dated June 1, 2021 (both previously filed); and the Pricing Supplement dated as of October 30, 2024 (the "Pricing Supplement") and the Terms Agreement dated October 30, 2024 (the "Terms Agreement") (both attached hereto). This report contains information specified in Schedule A to Regulation IA concerning a particular issue of securities which has not been previously available.

Item 1. Description of Securities

See cover page and pages 14 through 31 of the Prospectus; and the attached Pricing Supplement.

Item 2.Distribution of Securities

See pages 54 through 57 of the Prospectus; and the attached Terms Agreement.

Item 3.Distribution Spread

Item 4. Discounts and Commissions to Sub-Underwriters and Dealers

See Item 3 above.

Item 5. Other Expenses of Distribution

Not applicable.

File No. 83-1

Regulation IA

Rule 3

Item 6. Application of Proceeds

See Item 2 "Use of Proceeds" under "General Information / Additional Information Regarding the Notes" in the attached Pricing Supplement.

Item 7. Exhibits

Exhibit A

March 1, 2024

To the Dealers appointed

from time to time pursuant to a

Terms Agreement or Appointment Agreement

under the Global Debt Program of the

Inter-American Development Bank

Ladies and Gentlemen:

I have participated in the proceedings of the Inter-American Development Bank (the "Bank") to establish the Global Debt Program of the Bank, as it may be amended, restated, or superseded from time to time (the "Program"), and to authorize the issue and sale of Notes thereunder (the "Notes") with reference to a Prospectus dated July 28, 2020 (as supplemented and amended from time to time, the "Prospectus"). In connection with such proceedings, I have examined, among other documents, the following:

Pursuant to Section 5(e)(ii) of the Standard Provisions, I am of the opinion that:

While I assume no responsibility with respect to the statements in the Prospectus, nothing has come to my attention which has caused me to believe that the Prospectus, as of its date and as of the date hereof, and excluding the financial statements or other financial data, contains any untrue statement of a material fact or omits to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading.

This letter does not relate to the financial statements or other financial data contained in the Prospectus.

In rendering the foregoing opinion, I have relied, with respect to matters of New York law, upon the opinion of Sullivan & Cromwell LLP and, with respect to matters of English law, upon the opinion of Linklaters LLP, each delivered on the date hereof in accordance with the Standard Provisions. Also, I have assumed that signatures on all documents examined by me are genuine.

This letter is furnished by me as Chief Counsel (Corporate Legal Affairs Division) of the Bank to Dealers appointed from time to time under the Program and is solely for their benefit.

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Exhibit B

EXECUTION VERSION

PRICING SUPPLEMENT

Inter-American Development Bank

Global Debt Program

Series No.: 869

Tranche No.: 9

INR 4,250,000,000 7.00 percent Notes due April 17, 2033 (the "Notes")

as from November 4, 2024 to be consolidated and form a single series with the Bank's INR 4,250,000,000 7.00 percent Notes due April 17, 2033, issued on April 17, 2023 (the "Series 869 Tranche 1 Notes"), the Bank's INR 4,250,000,000 7.00 percent Notes due April 17, 2033, issued on July 12, 2023 (the "Series 869 Tranche 2 Notes"), the Bank's INR 3,500,000,000 7.00 percent Notes due April 17, 2033, issued on September 8, 2023 (the "Series 869 Tranche 3 Notes"), the Bank's INR 1,700,000,000 7.00 percent Notes due April 17, 2033, issued on March 19, 2024 (the "Series 869 Tranche 4 Notes") and the Bank's INR 1,800,000,000 7.00 percent Notes due April 17, 2033, issued on July 3, 2024 (the "Series 869 Tranche 5 Notes"), the Bank's INR 5,000,000,000 7.00 percent Notes due April 17, 2033, issued on July 30, 2024 (the "Series 869 Tranche 6 Notes"), the Bank's INR 2,750,000,000 7.00 percent Notes due on April 17, 2033, issued on September 20, 2024 (the "Series 869 Tranche 7 Notes"), and the Bank's INR 2,750,000,000 7.00 percent Notes due April 17, 2033, issued on October 18, 2024 (the "Series 869 Tranche 8 Notes") payable in United States Dollars

Issue Price: 101.324 percent plus 201 days' accrued interest

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

UK Regulated Market

Merrill Lynch International

The date of this Pricing Supplement is as of October 30, 2024

PRICING SUPPLEMENT

Inter-American Development Bank Global Debt Program Series No. 869, Tranche 9

INR 4,250,000,000 7.00 percent Notes due April 17, 2033

Terms used herein shall be deemed to be defined as such for the purposes of the Terms and Conditions (the "Conditions") set forth in the Prospectus dated July 28, 2020 (the "Prospectus") (which for the avoidance of doubt does not constitute a prospectus for the purposes of Part VI of the United Kingdom ("UK") Financial Services and Markets Act 2000 or a base prospectus for the purposes of Regulation (EU) 2017/1129 (as amended, the "Prospectus Regulation") or the Prospectus Regulation as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("EUWA")). This Pricing Supplement must be read in conjunction with the Prospectus. This document is issued to give details of an issue by the Inter-American Development Bank (the "Bank") under its Global Debt Program and to provide information supplemental to the Prospectus. Complete information in respect of the Bank and this offer of the Notes is only available on the basis of the combination of this Pricing Supplement and the Prospectus.

UK MiFIR product governance / Professional investors and ECPs target market - See "General Information-Additional Information Regarding the Notes-Matters relating to UK MiFIR" below.

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. Together with the applicable Conditions (as defined above), which are expressly incorporated hereto, these are the only terms that form part of the form of Notes for such issue.

PRICING SUPPLEMENT

Inter-American Development Bank Global Debt Program Series No. 869, Tranche 9

INR 4,250,000,000 7.00 percent Notes due April 17, 2033

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PRICING SUPPLEMENT

Inter-American Development Bank Global Debt Program Series No. 869, Tranche 9

INR 4,250,000,000 7.00 percent Notes due April 17, 2033

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PRICING SUPPLEMENT

Inter-American Development Bank Global Debt Program Series No. 869, Tranche 9

INR 4,250,000,000 7.00 percent Notes due April 17, 2033

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PRICING SUPPLEMENT

Inter-American Development Bank Global Debt Program Series No. 869, Tranche 9

INR 4,250,000,000 7.00 percent Notes due April 17, 2033

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PRICING SUPPLEMENT

Inter-American Development Bank Global Debt Program Series No. 869, Tranche 9

INR 4,250,000,000 7.00 percent Notes due April 17, 2033

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PRICING SUPPLEMENT

Inter-American Development Bank Global Debt Program Series No. 869, Tranche 9

INR 4,250,000,000 7.00 percent Notes due April 17, 2033

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PRICING SUPPLEMENT

Inter-American Development Bank Global Debt Program Series No. 869, Tranche 9

INR 4,250,000,000 7.00 percent Notes due April 17, 2033

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PRICING SUPPLEMENT

Inter-American Development Bank Global Debt Program Series No. 869, Tranche 9

INR 4,250,000,000 7.00 percent Notes due April 17, 2033

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PRICING SUPPLEMENT

Inter-American Development Bank Global Debt Program Series No. 869, Tranche 9

INR 4,250,000,000 7.00 percent Notes due April 17, 2033

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PRICING SUPPLEMENT

Inter-American Development Bank Global Debt Program Series No. 869, Tranche 9

INR 4,250,000,000 7.00 percent Notes due April 17, 2033

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General Information

Additional Information regarding the Notes

1. Matters relating to UK MiFIR

The Bank does not fall under the scope of application of the UK MiFIR regime. Consequently, the Bank does not qualify as an "investment firm", "manufacturer" or "distributor" for the purposes of UK MiFIR.

UK MiFIR product governance / Professional investors and ECPs target market - Solely for the purposes of the UK manufacturer's product approval process, the target market assessment in respect of the Notes has led to the conclusion that: (i) the target market for the Notes is eligible counterparties, as defined in COBS, and professional clients, as defined in UK MiFIR; and (ii) all channels for distribution of the Notes are appropriate. Any person subsequently offering, selling or recommending the Notes (a "distributor") should take into consideration the UK manufacturer's target market assessment; however, a distributor subject to the UK MiFIR Product Governance Rules is responsible for undertaking its own target market assessment in respect of the Notes (by either adopting or refining the UK manufacturer's target market assessment) and determining appropriate distribution channels.

For the purposes of this provision, (i) the expression "UK manufacturer" means the Dealer, (ii) the expression "COBS" means the FCA Handbook Conduct of Business Sourcebook, (iii) the expression "UK MiFIR" means Regulation (EU) No 600/2014 as it forms part of UK domestic law by virtue of the EUWA and (iv) the expression "UK MiFIR Product Governance Rules" means the FCA Handbook Product Intervention and Product Governance Sourcebook.

PRICING SUPPLEMENT

Inter-American Development Bank Global Debt Program Series No. 869, Tranche 9

INR 4,250,000,000 7.00 percent Notes due April 17, 2033

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2. The language set out under the heading "Use of Proceeds" in the Prospectus shall be deleted in its entirety and replaced by the following:

"The net proceeds from the sale of the Notes will be included in the ordinary capital resources of the Bank and, will not be committed or earmarked for lending to, or financing of, any specific loans, projects or programs. The Bank, in partnership with its member countries, works to reduce poverty and inequalities in Latin America and the Caribbean by promoting economic and social development in a sustainable, climate friendly way.

The Bank's strategic priorities include social inclusion and equality, productivity and innovation and economic integration along with three cross-cutting issues: gender equality and diversity, climate change and environmental sustainability, and institutional capacity and the rule of law. Each strategic priority of the Bank aligns to at least one of the United Nations Sustainable Development Goals ("SDGs"), with all goals covered within the Bank's institutional strategy, which may be adapted from time to time should the United Nations SDGs definition evolve.

All projects undertaken by the Bank go through the Bank's rigorous sustainability framework. The framework tracks measurable results, adherence to lending targets and the effectiveness of its environmental and social safeguards. The Bank's administrative and operating expenses are currently covered entirely by the Bank's various sources of revenue, consisting primarily of net interest margin and investment income (as more fully described in the Bank's Information Statement, which may be accessed as described under the heading "Availability of Information and Incorporation by Reference" in the Prospectus)."

3. Additional Investment Considerations:

The Notes offered by this Pricing Supplement are complex financial instruments and may not be suitable for certain investors. Investors intending to purchase the Notes should consult with their tax and financial advisors to ensure that the intended purchase meets the investment objective before making such purchase.

There are various risks associated with the Notes including, but not limited to, exchange rate risk, price risk and liquidity risk. Investors should consult with their own financial, legal and accounting advisors about the risks associated with an investment in these Notes, the appropriate tools to analyze that investment, and the suitability of the investment in each investor's particular circumstances. Holders of the Notes should also consult with their professional tax advisors regarding tax laws applicable to them.

Payment of each Interest Amount and the Redemption Amount will be based on the Reference Rate, which is a measure of the rate of exchange between the Indian Rupee and the USD. Currency exchange rates are volatile and will affect the holder's return. In addition, the government of India can from time to time intervene in the foreign exchange market. These interventions or other governmental actions could adversely affect the value of the Notes, as well as the yield (in USD terms) on the Notes and the amount payable at maturity or upon acceleration. Even in the absence of governmental action directly affecting currency exchange rates, political or economic developments in India or elsewhere could lead to significant and sudden changes in the exchange rate between the Indian Rupee and the USD.

PRICING SUPPLEMENT

Inter-American Development Bank Global Debt Program Series No. 869, Tranche 9

INR 4,250,000,000 7.00 percent Notes due April 17, 2033

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The Indian Rupee is an emerging market currency. Emerging market currencies may be subject to particularly substantial volatility, as well as to government actions including currency controls, devaluations and other matters which could materially and adversely affect the value of the Notes.

The methodologies for determining the Reference Rate may result in a Redemption Amount (or Early Redemption Amount, as the case may be) of the Notes, or an Interest Amount on the Notes, being significantly less than anticipated or less than what an alternative methodology for determining the INR-USD exchange rate would yield.

4. United Stated Federal Income Tax Matters:

The following supplements the discussion under the "Tax Matters" section of the Prospectus regarding the U.S. federal income tax treatment of the Notes, and is subject to the limitations and exceptions set forth therein. Any tax disclosure in the Prospectus or 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.

Because the Notes are denominated in the Indian Rupee, a United States holder of the Notes will generally be subject to special United States federal income tax rules governing foreign currency transactions, as described in the Prospectus in the last four paragraphs of "-Payments of Interest" under the "United States Holders" section. Pursuant to such rules, a United States holder should determine amounts received with respect to a Note (including principal and interest) by reference to the U.S. dollar value of the Indian Rupee amount of the payment, calculated at the currency exchange rate in effect on the date of payment. The U.S. dollar amount that is actually received by the United States holder may differ from the amount determined under the preceding sentence, since the U.S. dollar amount of the payment will be determined by reference to the Reference Rate as of the relevant Rate Fixing Date. Accordingly, a United States holder of the Notes may recognize United States source foreign currency gain or loss in an amount equal to such difference (in addition to any foreign currency gain or loss otherwise recognized upon the receipt of an interest payment or a sale or retirement of the Notes). The U.S. Internal Revenue Service could take the position, however, that the amounts received by a United States holder in respect of a Note should be equal to the U.S. dollar amount that is actually received by the United States holder. Prospective United States holders of the Notes should consult their tax advisors regarding these rules.

In addition, it is possible that the U.S. Internal Revenue Service could assert that the Notes should be treated as issued with original issue discount ("OID") for United States federal income tax purposes because it is possible that an interest payment on the Notes could be deferred beyond one year due to the Business Day Convention. If so treated, then a United States holder that is otherwise subject to the cash basis method of accounting for tax purposes will be required to accrue the interest payments on the Notes in ordinary income. We intend to take the position that the Notes should not be treated as issued with OID for United States federal income tax purposes.

PRICING SUPPLEMENT

Inter-American Development Bank Global Debt Program Series No. 869, Tranche 9

INR 4,250,000,000 7.00 percent Notes due April 17, 2033

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PRICING SUPPLEMENT

Inter-American Development Bank Global Debt Program Series No. 869, Tranche 9

INR 4,250,000,000 7.00 percent Notes due April 17, 2033

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Exhibit C

EXECUTION VERSION

TERMS AGREEMENT NO. 869 TRANCHE 9 UNDER

THE PROGRAM

October 30, 2024

Inter-American Development Bank

1300 New York Avenue, N.W.

Washington, D.C. 20577

The undersigned agrees to purchase from you (the "Bank") the Bank's INR 4,250,000,000 7.00 percent Notes due April 17, 2033 (the "Notes", as from November 4, 2024 to be consolidated and form a single series with the Bank's INR 4,250,000,000 7.00 percent Notes due April 17, 2033, issued on April 17, 2023 (Tranche 1), the Bank's INR 4,250,000,000 7.00 percent Notes due April 17, 2033, issued on July 12, 2023 (Tranche 2), the Bank's INR 3,500,000,000 7.00 percent Notes due April 17, 2033, issued on September 8, 2023 (Tranche 3), the Bank's INR 1,700,000,000 7.00 percent Notes due April 17, 2033, issued on March 19, 2024 (Tranche 4), the Bank's INR 1,800,000,000 7.00 percent Notes due April 17, 2033, issued on July 3, 2024 (Tranche 5), the Bank's INR 5,000,000,000 7.00 percent Notes due April 17, 2033, issued on July 30, 2024 (Tranche 6), the Bank's INR 2,750,000,000 7.00 percent Notes due April 17, 2033, issued on September 20, 2024 (Tranche 7), and the Bank's INR 2,750,000,000 7.00 percent Notes due April 17, 2033, issued on October 18, 2024 (Tranche 8) described in the Pricing Supplement related thereto, dated as of the date hereof (the "Pricing Supplement"), at approximately 9:00 a.m. New York time on November 4, 2024 (the "Settlement Date"), at an aggregate purchase price of INR 4,470,098,767.12 (USD 53,183,804.49 at the agreed rate of 84.05 INR per one USD), calculated as set forth below and payable in United States Dollars, on the terms set forth herein and in the Standard Provisions, dated as of June 1, 2021, relating to the issuance of Notes by the Bank (the "Standard Provisions"), incorporated herein by reference. In so purchasing the Notes, the undersigned understands and agrees that it is not acting as an agent of the Bank in the sale of the Notes.

When used herein and in the Standard Provisions as so incorporated, the term "Notes" refers to the Notes as defined herein and the term "Time of Sale" refers to October 18, 2024, 12:05 p.m. London time. All other terms defined in the Prospectus, the Pricing Supplement relating to the Notes and the Standard Provisions shall have the same meaning when used herein.

The Bank represents and warrants to us that the representations, warranties and agreements of the Bank set forth in Section 2 of the Standard Provisions (with the "Prospectus" revised to read the "Prospectus as amended and supplemented with respect to Notes at the date hereof") are true and correct on the date hereof.

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The obligation of the undersigned to purchase Notes hereunder is subject to the continued accuracy, on each date from the date hereof to and including the Settlement Date, of the Bank's representations and warranties contained in the Standard Provisions and to the Bank's performance and observance of all applicable covenants and agreements contained therein. The obligation of the undersigned to purchase Notes hereunder is further subject to the receipt by the undersigned of the documents referred to in Section 6(b) of the Standard Provisions.

Subject to Section 5(f) of the Standard Provisions, the Bank certifies to the undersigned that, as of the Settlement Date, (i) the representations and warranties of the Bank contained in the Standard Provisions are true and correct as though made at and as of the Settlement Date, (ii) the Bank has performed all of its obligations under this Terms Agreement required to be performed or satisfied on or prior to the Settlement Date, and (iii) the Prospectus contains all material information relating to the assets and liabilities, financial position, and net income of the Bank, and nothing has happened or is expected to happen which would require the Prospectus to be supplemented or updated.

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FOR THE BANK:

Inter-American Development Bank

1300 New York Avenue, N.W.

Washington, D.C. 20577

Attention:   Finance Department

    Cash Management and Settlements Group

Email:    [email protected]

Telephone:   202-623-3131

FOR THE DEALER:

Merrill Lynch International

2 King Edward Street

London EC1A 1HQ

United Kingdom

Attention:   Syndicate Desk

Telephone:   +44 (0) 20 7995 3966

Email:    [email protected]

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(i) Acknowledges that: (A) under the provisions of Section 11(a) of the Inter-American Development Bank Act, 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, and (B) no action has been or will be taken by the Bank 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 undersigned 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.

(ii) Represents and agrees that (a) it has only communicated or caused to be communicated and will only communicate or cause to be communicated an invitation or inducement to engage in investment activity (within the meaning of Section 21 of the Financial Services and Markets Act 2000 (the "FSMA")) received by it in connection with the issue or sale of the Notes in circumstances in which Section 21(1) of the FSMA does not apply to the Bank, and (b) it has complied and will comply with all applicable provisions of the FSMA with respect to anything done by it in relation to such Notes in, from or otherwise involving the United Kingdom.

(iii) Acknowledges that: It will not offer or sell any Notes in India at any time. The Notes have not been approved by the Securities and Exchange Board of India, Reserve Bank of India or any other regulatory authority of India, nor have the foregoing authorities approved the Pricing Supplement or confirmed the accuracy or determined the adequacy of the information contained in the Pricing Supplement. The Pricing Supplement has not been and will not be registered as a prospectus or a statement in lieu of prospectus with the Registrar of Companies in India.

(iv) Acknowledges that: In the case of the Notes being offered into Singapore in a primary or subsequent distribution, and solely for the purposes of its obligations pursuant to Section 309B of the Securities and Futures Act (Chapter 289) of Singapore (the "SFA"), the Issuer has determined, and hereby notifies all relevant persons (as defined in Section 309A of the SFA) that the Notes are "prescribed capital markets products" (as defined in the Securities and Futures (Capital Markets Products) Regulations 2018 of Singapore) and Excluded Investment Products (as defined in MAS Notice SFA 04-N12: Notice on the Sale of Investment Products and MAS Notice FAA-N16: Notice on Recommendations on Investment Products).

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Solely for the purposes of the requirements of 3.2.7R of the FCA Handbook Product Intervention and Product Governance Sourcebook (the "UK MiFIR Product Governance Rules") regarding the mutual responsibilities of manufacturers under the UK MiFIR Product Governance Rules, the Dealer acknowledges that it understands the responsibilities conferred upon it under the UK MiFIR Product Governance Rules relating to each of the product approval process, the target market and the proposed distribution channels as applying to the Notes and the related information set out in the Pricing Supplement and any other announcements in connection with the Notes; provided, however, that nothing in this Terms Agreement or any other agreements, arrangements, or understanding between the undersigned and the Bank shall operate as or be construed to constitute a waiver, renunciation or any other modification of any privilege or immunity of the Bank or its employees under the Agreement Establishing the Inter-American Development Bank, international law or other applicable law.

For the purposes of this provision, the expression "UK MiFIR" means Regulation (EU) No 600/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018.

All notices and other communications hereunder shall be in writing and shall be transmitted in accordance with Section 10 of the Standard Provisions.

This Terms Agreement shall be governed by and construed in accordance with the laws of the State of New York.

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This Terms Agreement may be executed by any one or more of the parties hereto in any number of counterparts, each of which shall be deemed to be an original, but all such respective counterparts together shall constitute one and the same instrument.

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