• IDB partners with U.S. government to facilitate business opportunities in Latin America and the Caribbean in infrastructure, technology and other key sectors.
• Leaders of Americas Partnership gather to deepen economic ties with the private sector.

Heads of state, business leaders and key stakeholders from the United States and Latin America and the Caribbean met today to discuss ways to propel economic growth and integration in the Americas region through new trade and responsible investment opportunities.

The Americas Partnership-IDB Responsible Investment Forum – organized in partnership with the United States government and hosted by the Inter-American Development Bank at its headquarters in Washington, D.C. – is the first of its kind. The Forum focused on the strategic importance of investing in sustainable infrastructure, clean energy, semiconductors and medical supplies as priority areas to foster sustainable development in the region. 

“The IDB has a mandate to promote regional integration. It’s our comparative advantage and it’s in our DNA. We are delighted to be the conduit of choice for mobilizing responsible investment for the region,” said Ilan Goldfajn, president of the IDB.

The event precedes the inaugural Americas Partnership for Economic Prosperity (APEP) Leaders’ Summit, taking place on November 3 at the White House. Twelve countries from the hemisphere are members of APEP, also known as the “Americas Partnership,” an initiative that seeks to tackle economic inequality and foster regional economic integration across the region.

Bilateral trade in goods and services between the United States and Latin America and the Caribbean was nearly $1.5 trillion in 2022. During the last three years, the United States was the largest source of foreign direct investment to the region, accounting for almost 40% of total investment flows, on average, per year.

President Goldfajn highlighted several ways the IDB Group – which comprises the IDB; IDB Invest, which serves the private sector; and IDB Lab, which tests innovative ways to enable more inclusive growth – can facilitate trade and investment in the region. 

For example, IDB Invest is finalizing a capital increase proposal to implement a new business model that would significantly scale up its impact in Latin America and the Caribbean. It will do so by mobilizing more private resources to respond to urgent development needs in key areas, such as social issues, gender and inclusion, and climate change. IDB Invest is a leading partner for companies and investors interested in finding opportunities in Latin America and the Caribbean.

President Goldfajn also announced new tools within BID for the Americas, a program launched in September to promote business opportunities and closer economic ties between the U.S. and countries in the region. These tools include:

• U.S. Bidder Center: a dedicated section within the IDB’s ConnectAmericas, where firms can access information about all ongoing procurement processes funded by the IDB in the region.
• Build the Americas app: where firms can find information about public procurement opportunities in the infrastructure sector in Latin America and the Caribbean, and connect with local companies that provide the goods and services related to each project. 
• U.S.-LAC Business Community in ConnectAmericas: where firms in the United States and Latin America and the Caribbean will be able to access purchasing and selling announcements and tailor-made content aimed at strengthening business interactions.

The Americas Partnership, announced in June 2022 at the Summit of the Americas in Los Angeles, is a framework for regional cooperation. Participating countries are Barbados, Canada, Chile, Colombia, Costa Rica, Dominica Republic, Ecuador, Mexico, Panama, Peru, Uruguay, and the United States.

U.S. Treasury Secretary Janet Yellen; Gabriel Boric, president of Chile; Rodrigo Chaves Robles, president of Costa Rica; Luis Abinader, president of the Dominican Republic; Guillermo Lasso, president of Ecuador; Dina Boluarte, president of Peru; and Luis Lacalle Pou, president of Uruguay, were among the high-level speakers at the event.