WASHINGTON – The Inter-American Development Bank (IDB) expanded its Emergency Credit Line for Jamaica and stands ready to support the country in its emergency response to Hurricane Melissa. The Bank is ready to provide, upon government request, up to US$300 million in fast-disbursing resources to support humanitarian assistance, restore essential services for the population, and back other emergency measures being implemented. These funds are part of the IDB Contingent Credit Facility (CCF) originally approved in 2018 to help the country respond to natural disasters and other emergencies. This
WASHINGTON – The Inter-American Development Bank (IDB) has approved a $100 million loan to improve Uruguay’s water and solid waste management, focusing on resilience and the circular economy. The operation, which has been approved by the IDB's Board of Executive Directors, will boost the resilience of the country's water supply system, benefitting the country’s 3.5 million inhabitants, particularly the two million people who live in the Montevideo metropolitan area. This Policy-Based Loan is the second in a programmatic series consisting of two consecutive operations that are technically
RIYADH — The Inter-American Development Bank Group (IDB Group) and the OPEC Fund for International Development (OPEC Fund) have launched a new $3 million facility to build a pipeline of high-quality, co-financing-ready infrastructure projects across Latin America and the Caribbean. This agreement, signed in Riyadh on the sidelines of the 9th Future Investment Initiative by IDB Group President Ilan Goldfajn and OPEC Fund President Abdulhamid Alkhalifa, marks a strategic milestone in the institutions’ partnership to mobilize resources for sustainable development and regional integration. The
SANTO DOMINGO — Transport ministers from Latin America and the Caribbean reached an agreement to create a regional network of sector authorities as a permanent platform for cooperation and transformation in mobility. This new network, co-chaired by the Inter-American Development Bank (IDB) and the Organization for Economic Development and Co-operation’s International Transport Forum (ITF), will also boost the region’s role in major international forums. The network’s creation was announced at the close of the Regional Policy Dialogue on Transport for Latin America and the Caribbean, a two-day
RIYADH — The Islamic Development Bank (IsDB) and the Inter-American Development Bank Group (IDB Group) renewed their strategic partnership, pledging $1 billion over the next five years to support development in Suriname and Guyana and signing a memorandum of understanding (MoU). The renewed collaboration will focus on advancing inclusive and sustainable development in both countries, with investments focused on key sectors, such as transportation, energy, urban development, education, rural development, health, and resilience. “At the Islamic Development Bank, we are committed to empowering
ANTIGUA, Guatemala — For the first time at the regional level in Latin America and the Caribbean, citizens will be able to complete digital public service transactions in another country using their national digital identity. This historic milestone was presented during the XIX Annual Meeting of the Inter-American Digital Government Network (Red Gealc), with the launch of the IdLAC software — a technology platform developed as a regional public good with support from the Inter-American Development Bank (IDB). What is IdLAC? IdLAC is a digital identity broker that acts as a secure bridge
Commerce between Korea and Latin America and the Caribbean (LAC) expected to reach a record $70 billion this year SEOUL – Korea and the Inter-American Development Bank Group (IDB Group) are commemorating 20 years of partnership this year, as trade between the country and Latin America and the Caribbean (LAC) is projected to reach a record $70 billion. The milestones took center stage at the 7th Korea–LAC Business Summit in Seoul, a two-day event co-organized by the IDB Group, Korea’s Ministry of Economy and Finance (MOEF), the Export-Import Bank of Korea (KEXIM), and the Korea Trade-Investment
Initiatives include a new AI Hub in Seoul, more jobs for Koreans, guarantees and co-financing for Latin America and the Caribbean SEOUL — The Inter-American Development Bank Group (IDB Group) and the Ministry of Economy and Finance of Korea today announced the creation of a Korea-IDB Group cooperation package to accelerate innovation, digital transformation, and sustainable growth across Latin America and the Caribbean (LAC). Announced during the 7th Korea-LAC Business Summit in Seoul, the new initiatives mark the 20th anniversary of Korea’s joining the IDB Group. Since 2005, this partnership
WASHINGTON — The Inter-American Development Bank (IDB) approved a $10 million investment loan and a $500,000 grant to help improve coastal water quality in Caye Caulker, Belize. Approved by the IDB’s Board of Executive Directors, the operation is part of IDB CLIMA, a performance-based pilot program that rewards countries for achieving climate and nature objectives. It will finance a project that aims to expand access to wastewater sanitation services in prioritized area of South Caye Caulker and strengthen the capacity of the public water utility company, Belize Water Services Limited (BWSL)