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IDB launches second phase of public consultation to discuss strategy on Institutions for Growth and Social Welfare

The Inter-American Development Bank (IDB) announced the second phase of public consultations to discuss its draft strategy on Institutions for Growth and Social Welfare.

As a key component of the Ninth General Capital Increase in the Resources of the IDB, the strategy will guide the Bank’s operational and analytical work to improve the institution’s impact on economic growth and social welfare.

"The first consultation phase, which focused on the strategy’s profile, has been very helpful," said Mario Sanginés, who leads the process of preparing the strategy. "The comments we have received have helped to confirm the selection of subjects, expand the strategy’s scope, and strengthen its relevance regarding the key issues of growth and welfare. We expect that this second phase will provide equally constructive feedback that will help us refine the content on the strategy’s different components and increase their relevance to the needs of the region.”

This second consultation phase will begin January 25 and continue to February 23. The goal is to receive feedback and contributions from governments, civil society organizations, social experts, academics, and other stakeholders in Latin America and the Caribbean and other regions. These contributions are essential for strengthening the strategy’s effectiveness and relevance. To this end, the IDB has a link to the draft strategy on Institutions for Growth and Social Welfare on its website.

The draft document provides an analytical framework to identify institutional issues that pose challenges to development in the region and that generate demand for financial and technical support by IDB borrowing countries for which the Bank has comparative advantages.

The document sets forth seven priority areas of action with their respective diagnoses and strategic proposals as follows: enhancing the productivity and growth of small and medium enterprises (SMEs); public sector management and taxation; reducing insecurity and violence; registries for social and economic citizenship; combating corruption and promoting transparency; providing access to financial services to the majority; and institutions for innovation and technological development.