SEOUL – The Inter-American Development Bank (IDB) and the Jeju Province of the Republic of Korea signed a Memorandum of Understanding (MoU) establishing a framework for cooperation to advance sustainable tourism development and strengthen energy governance in Latin America and the Caribbean.
Under the agreement, the parties will explore the implementation of digital transformation tools for smart tourism, including the use of artificial intelligence, data analytics, and other measures to improve tourism management and governance. The collaboration will also cover activities to promote cost-effective, secure, resilient, and sustainable energy systems across the region through energy governance, regulatory frameworks, and institutional capacity-building.
Through this framework, the IDB and the Jeju Province will promote knowledge exchange and identify opportunities for collaboration that support innovation, institutional strengthening, and sustainable development in LAC in areas where Jeju has valuable experience.
About the IDB
The Inter-American Development Bank (IDB), a member of the IDB Group, is devoted to improving lives across Latin America and the Caribbean. Founded in 1959, the Bank works with the region’s public sector to design and enable impactful, innovative solutions for sustainable and inclusive development. Leveraging financing, technical expertise, and knowledge, it promotes growth and well-being in 26 countries. Visit our website: https://www.iadb.org/en
Consuelo Andrea De La Jara Donoso
Extlaffairs-Commun Consultant
