Korea-LAC Trade and Innovation Forum opens in Rio de Janeiro. IDB Group presents BID for the Americas, a program that serves as a bridge for Korean companies to access business opportunities in the region. Trade relations between Korea and Latin America and the Caribbean show great dynamism, with record trade in goods, high levels of Korean investment in the region, and potential for future growth, according to a report from the Inter-American Development Bank (IDB) released today during the Korea-LAC Trade and Innovation Forum . Bilateral trade in goods grew from $10 billion in 2000 to $56.8
The Inter-American Development Bank (IDB) and the European Investment Bank (EIB) have approved guarantees totaling US$300 million to support an innovative debt-for-climate operation that will help Barbados unlock much-needed resources to invest in critical climate adaptation projects, while safeguarding other priorities such as social spending on health and education. The boards of the IDB and the EIB each approved a US$150 million guarantee, marking the first time the two institutions have provided joint guarantees for a single operation in the Caribbean. This combined effort on innovative
The Inter-American Development Bank (IDB) and the Export-Import Bank of Korea (KEXIM) signed an agreement to expand the co-financing of sovereign guaranteed investment loans, whereby KEXIM will provide an additional $300 million in co-financing over the next three years for infrastructure in areas including energy, transportation, and information and communication technology in Latin America and the Caribbean. These funds will be channeled through Korea’s Economic Development Promotion Facility (EDPF), which promotes economic cooperation with partner countries. It uses funds from KEXIM to
At the 3rd Housing Forum 2024 in Mexico City, government and private sector representatives proposed solutions aimed especially at vulnerable populations MEXICO CITY -- The Inter-American Development Bank (IDB) Group has proposed six structural reforms to reduce the housing deficit in Latin America and the Caribbean, with special attention to vulnerable and low-income populations. During the 3rd Housing Forum 2024, held in Mexico City, public and private sector officials analyzed innovative measures and their effective implementation to guarantee access to housing for the region's most
RIO DE JANEIRO - The Inter-American Development Bank (IDB), the National Bank for Economic and Social Development of Brazil (BNDES), the Bank of Brazil (BB) and the CAIXA Econômica Federal (CAIXA) plan to develop a new exchange-traded fund (ETF) to be listed on Brazil’s B3 stock exchange as a way to finance sustainable investments in the Amazon. The Amazonia for All ETF aims to democratize access to sustainable investments, combining the use of financial resources with performance-based incentives and cultivating a more diverse and broader investor base in domestic and international markets
The Inter-American Development Bank (IDB) has approved a $500 million loan that, along with an additional $100 million in financing from the Korea Infrastructure Development Co-financing Facility for Latin America and the Caribbean—which is administered by the IDB– aims to galvanize the energy transition and public and private investment in Ecuador. The program will advance a fair and sustainable energy transition that incorporates non-conventional renewable energy sources, boosts energy efficiency, increases the participation of women and people with disabilities in the electrical power
The Inter-American Development Bank (IDB) approved $110 million from its Grant Facility to improve food security, health, and the inclusion of vulnerable children and youth in Haiti. The funds will support household income to sustain food consumption by financing unconditional cash transfers for 165,000 people and transfers conditional to the participation in small works for the creation, restoration, and maintenance of community assets selected by the communities. This will benefit 7,400 workers and their families – approximately 37,000 individuals. The initiative will improve access and
The President of the Inter-American Development Bank (IDB) and the Managing Director of the International Monetary Fund ( IMF ) have agreed to enhance their collaboration to better support the efforts of common members in Latin America and the Caribbean to foster sustainable and inclusive growth and address the structural challenges of climate change. Operating within the scope of each institution’s mandate, IDB and IMF staff will increase their cooperation in two main areas: general coordination and climate finance. As part of their enhanced general coordination, the IDB and the IMF staff