The Regional Public Goods Initiative
The Regional Public Goods Initiative of the Inter-American Development Bank (IDB) is based on the premise that the countries of Latin America and the Caribbean (LAC) share numerous development challenges that can be addressed more effectively and efficiently at a regional level through collective action and cooperation. The Initiative is also a response to the increasing importance of South-South cooperation (SSC) in the development agenda of LAC countries and the IDB, who is committed to being an active partner in development through a South-South led learning and cooperation process.
Definition of regional public goods
The Initiative defines regional public goods (RPG) as goods, services or resources that are produced and consumed collectively by the public sector and, if appropriate, the private, non-profit sector in a minimum of three borrowing member countries of the IDB. The Initiative focuses on regional public goods that have the potential to generate significant shared benefits and positive spillover effects. Spillover effects can be expressed in terms of scope (benefits extend beyond the originally targeted sector in each country) and/or scale (benefits extend beyond the original group of countries).
Competitive allocation of funds
Each year, the Initiative provides non-reimbursable resources (grants) for proposals that have been selected as a result of a call for proposals (CFP).
The Initiative finances proposals that have been prepared or are endorsed by and benefit a minimum of three (3) and exceptionally two (2) borrowing member countries of the IDB.
The RPG needs to be produced collectively. This means that the partner countries and institutions decide together how to achieve their goal, including the agenda and the mechanisms of their regional cooperation.
The Initiative is open to the promotion of RPGs in any area, in which the Bank is active. However, alignment with the IDB’s operational agenda and priorities is a selection criterion. Proposals with a gender-specific focus will be evaluated positively.