February 8, 2010
Regional Government of Madrid, IDB to collaborate in urban planning, infrastructure and transportation projects in Latin America and the Caribbean
The Inter-American Development Bank (IDB) has formed a partnership with PromoMadrid to collaborate in projects and share best practices in urban planning, infrastructure and transportation in Latin America and the Caribbean. The Memorandum of Understanding, signed today with PromoMadrid at IDB’s headquarters, will facilitate the transfer of best practices and institutional capacity building from the public institutions in the Region of Madrid to 26 borrowing nations of the IDB. PromoMadrid is a regional government-owned company, with the purpose of promoting and developing the Region of Madrid internationally from an economic perspective. PromoMadrid acts under the authority of the Madrid Regional Ministry of Economy and Finance Affairs. The Region of Madrid is a world leader in the development of metropolitan governance frameworks and regional public policies in topics such as transportation, water and sanitation, health and energy.