The 2012 Call for proposals of the Regional Public Goods Initiative closed on March 29. The Initiative received 95 proposals from groups of countries in Latin America and the Caribbean, which presented ideas to collectively address challenges or seize new opportunities for development.

The high number of proposals submitted this year (in 2011, the Initiative received 54) testifies to both the region´s interest in regional cooperation and the demand for opportunities to address the externalities of increasing regional and global interdependence.

Since its creation in 2004, the RPG Initiative has proven that the IDB is uniquely positioned to provide strategic leadership, technical assistance and financial resources to stimulate South-South cooperation and bring about regional development solutions in Latin America and the Caribbean.

In 2012, the Initiative for the Promotion of Regional Public Goods will provide up to US$5 million in grants for proposals that have been selected for financing. There is no fixed amount per proposal; financing typically ranges between US$0.6 and US$1.3 million.