BRASILIA - As part of the Brazil-Caribbean Summit, with the participation of Caribbean Community (CARICOM) nations, the Inter-American Development Bank (IDB) today announced new measures to support the region through development and integration. In the IDB's view, the joint efforts of Brazil and CARICOM prove that regional integration works. One of the IDB’s most important initiatives is the creation of a multi-donor fund for the ONE Caribbean program, a platform for collective action focused on climate resilience and disaster risk management, citizen security, private sector development and
IDB Lab, the innovation and venture capital arm of the Inter-American Development Bank Group (IDB Group), has launched a call for participants in its Women STEMpreneurs Competition to fund women-led startups in Latin America and the Caribbean. The thirteenth edition of the regional competition will be held through the WeXchange platform offering opportunities for women entrepreneurs in science, technology, engineering, and mathematics (STEM). The call underscores IDB Lab's commitment to strengthening the innovation ecosystem to maximize the talent of women entrepreneurs and accelerate the
As prepared for delivery Introduction Good morning. The Honorable Philip Davis, Prime Minister of the Commonwealth of the Bahamas, Minister Halkitis, Distinguished Governors, Heads of Delegation and Members of the Delegations; Executive Directors of the Inter-American Development Bank and IDB Invest, Ladies and gentlemen. It's a pleasure to be here. The Bahamas offers us an ideal venue for our meetings and our discussions on how we can foster sustainable development and growth for our region. These principles of respect for the environment and its people are rooted in the ancestry of these
Most Caribbean businesses are either innovative or potentially innovative but still face challenges, according to a new report by the Inter-American Development Bank (IDB). This edition delves into the critical role of innovation in driving economic growth and productivity in the Caribbean region. Innovative businesses in the Caribbean have 26% to 35% higher levels of productivity and 21% to 81% higher sales per worker than non-innovative firms, depending on the type of innovation, according to the report titled "Innovation for Faster Economic Growth in the Caribbean: Are We There Yet?". The
BRIDGETOWN, Barbados– The Inter-American Development Bank (IDB) and the Development Centre of the Organisation for Economic Co-operation and Development (OECD) launched a new publication, Caribbean Development Dynamics, that provides comprehensive insights into how Caribbean countries can unlock their economic potential through the energy transition, the blue economy, sustainable tourism, and the digital transformation. The publication was presented at an event attended by IDB President Ilan Goldfajn, with the virtual participation of OECD Secretary General Mathias Cormann, and panel
The Inter-American Development Bank (IDB) approved a Conditional Credit Line for Investment Projects (CCLIP) of US$100 million and a first individual loan of US$50 million under this credit line to upgrade potable water supply and sanitation services in the Bahamas. The program approved by the IDB's Board of Executive Directors aims to improve potable water services coverage in the Family Islands and New Providence, and sanitation services reliability in New Providence. In addition, it will improve the operational and financial performance of the Water and Sewerage Corporation (WSC), its
• The Bahamas Debt Conversion Project for Marine Conservation will generate an estimated US$124 million in savings for marine conservation over the next 15 years. The Government of the Bahamas launched a new debt conversion project that will save it an estimated US$124 million over the next 15 years and enable it to improve ocean conservation and management of the Bahamas Protected Areas System. The project, supported by the Inter-American Development Bank (IDB), The Nature Conservancy (TNC)’s Nature Bonds Program, and other partners allowed the government to buy back US$300 million in
A new publication by the Inter-American Development Bank (IDB) and Compete Caribbean urged Caribbean countries to advance on key reforms to improve the business environment and boost firm productivity in a bid to accelerate long-term growth. The book, “ Are We There Yet? The Path toward Sustainable Private Sector Development in the Caribbean ,” analyzes opportunities and challenges for key policy reforms aimed at increasing the competitiveness and dynamism of the region’s private sector. This comprehensive book offers a regional perspective, encompassing 13 Caribbean nations: Antigua and