IDB and Chile Sign Agreements for $180 Million during IDB and IDB Invest Annual Meetings

SANTIAGO – The Inter-American Development Bank (IDB) and the Republic of Chile signed $180 million in agreements to promote sustainable and resilient economic growth, strengthen the capacities of regional government, diversify exports, and improve water and electricity services in Rapa Nui, during the IDB and IDB Invest Annual Meetings held in Santiago. 

“These agreements reflect the historical and deep partnership between Chile and the IDB and our shared commitment to advancing economic development,” said IDB President Ilan Goldfajn. “We’re grateful to Chile for hosting this year’s Annual Meetings and look forward to working with them to advance common priorities.” 

The agreements were: 

• A $100 million operation to accelerate Chile's economic transformation and resilient growth, including support for improvements in public policies that will help reduce pollution levels and increase infrastructure resilience. This will benefit low-income populations, which tend to be the most affected by natural disasters. 
• A $50 million operation to strengthen the technical capacity of regional governments to improve their ability to provide metropolitan-wide urban services. It will also enhance capacities to develop urban infrastructure projects such as renovation of public spaces or promotion of cultural heritage. 
• A $15 million operation to strengthen the export of global services, which includes increasing the availability of digital talent and attracting investment. It will also support the consolidation of public-private coordination for the development of Chile's global-services sector. 
• A $15 million operation to contribute to the sustainability of Rapa Nui, also known as Easter Island, by improving the efficiency of water and electricity services and energy diversification. The program will directly benefit more than 3,800 customers of the local utility, while indirectly benefiting commercial establishments that depend on tourism. 

These operations are part of the IDB's Country Strategy with Chile. 

The signings took place during the IDB and IDB Invest Annual Meetings, during which the Bank's 48 member countries gather in Chile for seminars and discussions on sustainable development in Latin America and the Caribbean and to hold dialogue on priorities and common interests.  

The IDB aims to support Chile’s ambitious goals of advancing climate resilience, expanding infrastructure, and diversifying exports, while also ensuring the benefits of development are broadly shared. 

Since last year, the IDB has been advancing the implementation of three transformational changes: a new Institutional Strategy and new business models for the private-sector institution, IDBInvest+, and venture-capital wing, IDBLab+. The three changes form the IDBImpact+ reform effort that seeks to strengthens the IDB's role as a private-sector multilateral development bank.