The platform will bring together the region’s investment promotion agencies to strengthen cooperation among countries.
PANAMA CITY – The Inter-American Development Bank (IDB) today launched the Latin America and the Caribbean Investment Promotion and Facilitation Network, a new platform aimed at facilitating the exchange of information and experiences among countries and strengthening cooperation and promotion efforts to attract more foreign investment to the region.
The Network will bring together government entities responsible for investment facilitation and promotion in the region’s countries.
The initiative responds to growing demand among IDB member countries seeking to promote foreign investment, a key driver of growth, to advance development. Every dollar invested in investment promotion can generate up to an additional US$56 in foreign direct investment, according to an IDB study.
“This Network brings together those who attract and facilitate investment in each country, so they can learn from one another and investors can find a more predictable region. The Network focuses above all on implementation, not only to attract more investment, but also quality investment that translates into development for people and businesses,” said Anabel González, IDB Vice President for Countries and Regional Integration.
“Latin America and the Caribbean needs to attract more foreign direct investment to achieve its development goals. This Network will enable countries to share experiences and good practices and strengthen cooperation to reinforce their investment attraction strategies,” said Fabrizio Opertti, Manager of the IDB’s Productivity, Trade and Innovation Sector. “It will be a permanent space to work together and make better use of investment opportunities in the region,” he added.
As part of its work to strengthen productivity, promote trade and investment, and foster innovation in Latin America and the Caribbean, the IDB, through its Productivity, Trade and Innovation Sector, will serve as the Network’s technical secretariat during its initial phase.
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: www.iadb.org/en.
Andres Cavelier
Communications Specialist
