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
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 US$25 million program to improve Suriname´s air transportation sector, increasing its safety and connectivity. The program approved by the IDB's Board of Executive Directors will support actions to improve compliance with international civil aviation safety and security standards and increase the quality and resilience of air transport infrastructure. It will benefit approximately 465,000 air passengers per year, including inhabitants of Amerindian and Maroon communities, with better and reliable access to isolated regions, improved safety
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
CALI, Colombia — The Inter-American Development Bank (IDB) and the World Bank today presented the core elements of the guidelines for capital-markets instruments called Amazonia Bonds. These bonds will finance activities that have a positive impact on local communities, biodiversity, and zero-deforestation efforts in the Amazon region. The guidelines outline project selection and evaluation criteria, measures to mitigate environmental and social risks, and indicators to report expected impact. Built on existing global market standards that underpin sustainable-bond markets – ICMA Principles
The Inter-American Development Bank (IDB) has approved a US$30 million project to help Suriname build up its institutional capacity to manage land use. This seven-year operation will strengthen the country’s frameworks and tools for spatial and environmental planning and boost the operational capabilities of the Ministry of Spatial Planning and Environment and the National Environmental Authority. In Suriname, changes in land use are driven by economic growth, demographic pressures, and unplanned urban expansion, among other factors. The country’s population has tripled from 1950 to 2022
The Board of Directors of the Inter-American Development Bank (IDB) approved a US$40 million project to expand the capacity of Suriname's social protection system to strengthen human capital among vulnerable households. The project will improve Suriname's social protection system and efficiency to better safeguard vulnerable populations, with a special focus on female-led poor households, persons with disabilities, and households in poverty with children. The operation will finance existing cash transfers provided to impoverished households and people with disabilities. The project will