WASHINGTON — The Inter-American Development Bank (IDB) Board of Executive Directors has approved a $195 million loan to finance the modernization of El Salvador International Airport (AIES). This operation, approved under the Specific Investment Loan (ESP) modality, will boost the country’s economic development, tourism, and air connectivity for passengers using the San Óscar Arnulfo Romero y Galdámez International Airport. The plan aims to improve the quality of airport services and strengthen institutional capacity for planning, operating, and managing air transport. This IDB-supported
WASHINGTON — The Board of Executive Directors of the Inter-American Development Bank (IDB) approved a loan of up to US$70 million to advance Jamaica’s ongoing public sector transformation program. The initiative aims to make public administration more efficient and effective, improving services for both citizens and public servants. The program, financed by the IDB, will enhance the management of human, financial, and organizational resources by strengthening core government functions, streamlining institutional structures, and modernizing civil service systems. Financing will support measures
MONTEGO BAY, Jamaica — In the wake of Hurricane Melissa, Inter-American Development Bank Group (IDB Group) President Ilan Goldfajn joined Caribbean heads of state in a visit to Jamaica's devastated areas to offer solidarity and support in the country's urgent response and recovery efforts. Jamaica’s preparedness — including disaster-risk financing through the IDB’s Contingent Credit Facility (CCF) — will help limit the immediate fallout. Recovery planning is now underway, focusing on key priorities and strengthening resilience. The IDB Group is supporting this effort not only with financing
WASHINGTON — The World Bank, in coordination with the Inter-American Development Bank (IDB), estimate that the physical damage to Jamaica caused by Hurricane Melissa totals US$8.8 billion — equivalent to 41% of the country’s 2024 GDP— making it the costliest hurricane in Jamaica’s recorded history. The Global Rapid Damage Estimation (GRADE), conducted immediately after the hurricane, assessed physical damage across residential, non-residential, infrastructure, and agricultural sectors. It does not include broader economic losses, which are expected to be even more significant. The GRADE
New edition of marquee forum will provide a space where innovation and technology unite to address development challenges in Latin America and the Caribbean. WASHINGTON — The Inter-American Development Bank Group (IDB Group) announces the 2025 edition of its Global Entrepreneurship and Technology Forum for Latin America and the Caribbean – GET Forum (formerly IDB Lab Forum). This flagship event of the IDB Group will take place from November 30 to December 2 in San Salvador, El Salvador. GET Forum brings together global investors, ecosystem developers, startup CEOs, business leaders, public
WASHINGTON — Countries in Latin America and the Caribbean face a unique opportunity to boost agricultural productivity to safeguard food security, improve rural livelihoods, and protect the environment, according to a new flagship report from the Inter-American Development Bank (IDB). The study, titled " Agricultural Productivity in Latin America and the Caribbean: What We Know and Where We Are Heading," reveals that although total output has increased nearly sixfold since 1960, recent growth has relied more on the increased use of inputs – such as land, labor, fertilizers, machinery, and
Two technological solutions and a collaboration with Google and the World Meteorological Organization to strengthen regional resilience BELÉM, Brazil —The Inter-American Development Bank Group (IDB Group) launched two tools at COP30 to help Latin American and Caribbean countries assess the risks and costs of disasters with greater precision. RiskMONITOR, a tool developed by the IDB Group, visualizes data on disaster risk and its management and evolution over time across countries. It is based on 20 years of accumulated knowledge and uses specific indicators to assess each country’s level of
BELÉM, Brazil — The Inter-American Development Bank Group (IDB Group) and the European Investment Bank Group (EIB Group), on behalf of the Multilateral Development Banks Nature Working Group and in collaboration with the government of Brazil, today launched " Financing Nature: A Practitioner’s Guide to Results Metrics Selection," a new tool to measure nature outcomes and accelerate investment in nature. Tropical countries need $67 billion a year in investment by 2030 to halt forest loss and restore degraded areas. But nature measurement remains fragmented, with over 600 indicators and hundreds
BELÉM, Brazil — The Inter-American Development Bank (IDB) and the Central Bank of Brazil have signed a first-of-its-kind agreement to enable up to $3.4 billion in foreign-exchange hedging to help mobilize private investment for sustainable development, starting with Brazil’s Eco Invest Program. Structured under internationally recognized International Swaps and Derivatives Association (ISDA) standards, the agreement creates a dedicated FX Hedging Conduit that allows the IDB to supply long-dated derivatives through the Central Bank, which will then be channeled to Eco Invest beneficiaries via
BELÉM, Brazil — The Inter-American Development Bank Group (IDB Group) and the French Development Agency Group (AFD Group) announced a partnership to co-finance projects totaling up to $324 million to expand digital connectivity in the Brazilian Amazon. The projects – part of the IDB Group’s Amazonia Forever program and the European Union’s Global Gateway – will install submarine fiber-optic cables in the states of Maranhão and Pará, bringing fast and affordable internet to about 15 million people. The initiative will expand access to online education, telemedicine, and e-commerce. In total