WASHINGTON -The Inter-American Development Bank (IDB) has approved a $250 million policy-based loan to support Chile’s reforms to boost its competitiveness and sustainable and inclusive growth. This operation, which has been approved by the IDB's Board of Executive Directors, aims to accelerate the digital transformation of public services and connectivity, drive a transition to circular production models, and increase formal employment by supporting micro and small enterprises and the labor force. The program includes measures to expand the country's digital infrastructure, for example, by
WASHINGTON - The Inter-American Development Bank (IDB) approved a $250 million financing package to support the BB Amazônia Program, a joint initiative with Banco do Brasil (BB) aimed at promoting bioeconomy businesses and expanding sustainable infrastructure in the Brazilian Legal Amazon. The financing package includes a $175 million loan from the IDB and a $75 million loan from Green Climate Fund (GCF). The program will expand access to credit for local small bio-businesses across bioeconomy value chains, as well as for sustainable infrastructure projects focused on renewable energy and
Ecuador is encouraging private investments to diversify its energy mix and enhance energy security with a $77 million sovereign guarantee from the Inter-American Development Bank (IDB). The guarantee—the first operation under a $140 million conditional credit line for investment projects—is designed to reduce country risk and attract private investment in non-conventional renewable energy sources such as solar and wind. These efforts will help Ecuador lessen its dependence on large scale hydroelectric power, which is increasingly vulnerable to climate-related disruptions like droughts and
WASHINGTON – The Inter-American Development Bank (IDB) has approved new financing to support the Brazilian government's efforts to foster a favorable environment for investment and private sector activity. The operation strengthens the Institutional Reforms Program for Competitiveness and Business Improvement, in partnership with the Ministry of Development, Industry, Trade, and Services. With financing of $100 million, or approximately R$ 560 million, in the form of a policy-based loan (PBL), the program aims to consolidate progress made in this area and promote the medium- and long-term
BRASILIA - As part of the Brazil-Caribbean Summit, with the participation of Caribbean Community (CARICOM) nations, the Inter-American Development Bank (IDB) today announced new measures to support the region through development and integration. In the IDB's view, the joint efforts of Brazil and CARICOM prove that regional integration works. One of the IDB’s most important initiatives is the creation of a multi-donor fund for the ONE Caribbean program, a platform for collective action focused on climate resilience and disaster risk management, citizen security, private sector development and
IDB Lab, the innovation and venture capital arm of the Inter-American Development Bank Group (IDB Group), has launched a call for participants in its Women STEMpreneurs Competition to fund women-led startups in Latin America and the Caribbean. The thirteenth edition of the regional competition will be held through the WeXchange platform offering opportunities for women entrepreneurs in science, technology, engineering, and mathematics (STEM). The call underscores IDB Lab's commitment to strengthening the innovation ecosystem to maximize the talent of women entrepreneurs and accelerate the
The Inter-American Development Bank (IDB) Board of Executive Directors has approved a US$350 million policy-based loan to Guyana, underpinning the country’s ongoing efforts to modernize and expand its social-protection systems. In approving this second and final operation in a programmatic series (the first of which was co-financed with Global Affairs Canada), the IDB recognizes Guyana’s strong macroeconomic performance and its commitment to inclusive social reform. The loan will support the Ministry of Human Services and Social Security (MHSSS) in enhancing the efficiency and reach of its
The initiative, presented at the Plenary Meeting of the Americas Business Dialogue in the Dominican Republic, seeks to foster collaboration between governments and businesses to spur economic growth and development across the region. SANTO DOMINGO - The Inter-American Development Bank (IDB) and the World Travel & Tourism Council (WTTC) launched a new Tourism Task Force. Announced during the Plenary Meeting of the Americas Business Dialogue (ABD), the initiative aims to position tourism as a key engine of economic growth in Latin America and the Caribbean by strengthening ties between the
SANTO DOMINGO – The Government of the Dominican Republic and the Inter-American Development Bank (IDB) will co-host the 5th CEO Summit of the Americas on December 3-4 in Punta Cana. The event, taking place on the eve of the Summit of the Americas, will convene leading business executives and heads of state from across the region to advance a shared agenda for private-sector-led development. Discussions will center on key themes: importance of critical minerals, enabling conditions for investment – including security – and the future of financial systems in Latin America and the Caribbean