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
Pension systems in the Caribbean will run out of funds within the next 10 to 15 years unless urgent reforms are implemented to ensure their sustainability, according to a new publication by the Inter-American Development Bank (IDB). Caribbean countries can build more resilient safety nets for their aging populations by addressing administrative inefficiencies, improving investment strategies, and considering adjustments to retirement age, among other measures, according to the report titled “ Building Resilient Safety Nets in the Caribbean: Future-Proofing Retirement Incomes .” The report is
The international meeting organized by the IDB's innovation and venture capital laboratory will promote innovative solutions that generate impact at scale in Latin America and the Caribbean. IDB Lab, the Inter-American Development Bank's innovation and venture capital lab, will hold the third edition of IDB Lab Forum Oct. 31-Nov. 1 in Buenos Aires, Argentina. The Forum is a flagship event dedicated to business innovation, venture capital and technology for development. This edition will focus on financing innovation and development of entrepreneurial ecosystems to generate greater impact in
IDB Lab, the innovation laboratory of the Inter-American Development Bank Group (IDB Group), in collaboration with the IDB and IDB Invest, and the U.S. government, through its agency USAID, is launching the Sargassum Innovation Quest . The initiative aims to harness the potential of the sargassum biomass and improve the resilience in Latin America and the Caribbean’s coastal communities through the use of advanced technology and innovative practice. Since 2011, the region has faced significant challenges from the influx of sargassum, impacting tourism, fisheries and coastal ecosystems. The
The project seeks to boost trade and development by optimizing port capacity. The Inter-American Development Bank (IDB) and the Global Infrastructure Facility (GIF) are supporting Trinidad and Tobago in the development of a public-private partnership that will improve cargo services at the port of Port of Spain, boosting trade and enhancing the country's competitiveness. The PPP is expected to invest up to $270 million, aiming to boost port productivity by more than 50%. The new private operator will manage all the port's cargo handling activities, ranging from general cargo operations and
With the economic and social stresses of the pandemic receding, Caribbean economies are experiencing continued growth into 2024, according to a new report by the Inter-American Development Bank (IDB). After the strong economic recovery of 2021–2023, Caribbean economies continue to grow at a somewhat faster pace than the Latin America and the Caribbean region, though country circumstances vary. For example, economic growth in Guyana is expected to be over 30% this year, while tourism-oriented economies are expected to grow only 2.6%. At the same time, economies are experiencing diverging
The call will be open from May 20 to June 28, 2024 The Inter-American Development Bank Group (IDB Group) launched the seventh edition of the Superheroes of Development contest to recognize clients and executing institutions excelling in the successful resolution of challenges during the implementation stage of development projects. Superheroes of Development is a BIDAcademy initiative that rewards the best lessons learned from operations containing stories that have the potential of helping other initiatives attain effective implementation. Studying the challenging path that others have
The new series will explore inequality, how it intersects with factors including gender and race, and how it impacts access to education or employment. BIDAcademy, the knowledge and learning platform of the IDB Group – which consists of the Inter-American Development Bank (IDB), IDB Invest and IDB Lab – has kicked off "Rethinking Equality ." This new podcast series will analyze the causes of inequality in Latin America and the Caribbean, the reasons for its persistence, and ways to reduce it to build a better future. Over the series’ 12 episodes on the "Voices in Action" podcast , Ana María
PUNTA CANA, Dominican Republic — The Caribbean Governors of the Inter-American Development Bank Group (IDB Group) endorsed the “One Caribbean” program, a comprehensive framework designed to support enhancing living standards across the Caribbean region. The program focuses on four pillars: climate adaptation, disaster risk management and resilience; citizen security; private sector engagement; and food security, as well as two cross-cutting areas, strengthening institutions and facilitating digital transformation. The signing of this endorsement statement took place during the IDB and IDB
IDB Lab, the innovation and venture laboratory of the Inter-American Development Bank Group (IDB Group), will invest reimbursable and non-reimbursable financing in the startup GoElectricTT to launch a new business model that aims to catalyze the adoption of electric vehicles in Trinidad and Tobago. GoElectricTT will offer short- and long-term leases and rentals of an all-electric vehicle fleet and will engage in outreach and public education on the benefits of using the vehicles. With an initial fleet of 15 vehicles, the startup will focus on the business sector of Trinidad and Tobago and