IDB announces winner of the 2019 Superheroes of Development Award

Monday, September 16, 2019 - 17:37
The winning IDB-financed project developed a new solution to monitor public infrastructure works and to empower citizens to evaluate the use of public resources in Honduras. WASHINGTON D.C., September 12, 2019. The Inter-American Development Bank (IDB) announced the winner of the Superheroes of Development contest, an award given to executing agencies that have successfully implemented innovative solutions in projects financed by the IDB.

IDB launches Superheroes of Development contest to recognize executing agencies

Monday, March 4, 2019 - 18:41
In its second edition, the call for proposals will be open from March 4th to May 17th, 2019. The Superheroes of Development Award will recognize executing agencies of IDB-financed projects that have successfully addressed challenges during its implementation. The contest will identify eight finalists from across Latin America and the Caribbean who will travel to IDB’s Headquarters in Washington, D.C. to present their solutions.

Government spending waste costs Latin America and Caribbean 4.4% of GDP: IDB study

Monday, September 24, 2018 - 15:05
Inefficiencies and fraud in procurement, civil service and targeted transfers could be as large as $220 billion a year Report includes policy recommendations to improve spending in healthcare, education, infrastructure and public safety

Artificial intelligence to boost Latin American and Caribbean economies: IDB study

Wednesday, August 29, 2018 - 11:43
Study also urges governments to anticipate consequences of artificial intelligence in labor markets BUENOS AIRES – Artificial intelligence can facilitate trade negotiations and add one additional percentage point of growth to Latin American and the Caribbean economies, according to a study by the Inter-American Development Bank (IDB).

Brazil’s Santa Catarina State will improve productivity and reliability of electricity supply with IDB support

Thursday, November 23, 2017 - 19:00
The Inter-American Development Bank (IDB) has approved a multiple-works investment loan in the amount of US$276.05 million to Centrais Elétricas de Santa Catarina–Distribuição S.A. (CELESC-D), the electric power distribution utility serving Brazil’s state of Santa Catarina. The program’s overall objective is to help boost productivity throughout the state of Santa Catarina by providing a higher quality and more reliable supply of electric power.

IIC closes B-bond structure in Campo Palomas Wind Farm

Thursday, August 3, 2017 - 16:56
The Inter-American Investment Corporation (IIC), the private sector arm of the IDB Group, has closed on a landmark 19.5 years amortizing B-bond for US$135.8 million to finance the operation of the 70 MW Uruguayan wind farm Campo Palomas. The project is developed by Invenergy, a global leader in renewable energy projects. The transaction marks the first B-bond issued in connection with an IIC A loan and the second such structure deployed by the IDB Group – the first one being the IDB’s Reventazon Hydroelectric Plant in Costa Rica.

IIC finances transmission line to connect renewable energy projects in Uruguay

Tuesday, July 18, 2017 - 03:00
The Inter-American Investment Corporation (IIC), the private sector arm of the IDB Group, signed a US$56 million senior A-loan and a US$25 million B-loan from BBVA to Difebal S.A, a special purpose vehicle fully owned by Terna, the largest transmission system operator in Europe.

IIC to finance first public-private partnership transmission line in Uruguay

Thursday, May 11, 2017 - 03:00
The Inter-American Investment Corporation (IIC) continues to support energy generation from renewable sources in Uruguay with the approval of a $56 million financing package for a 500 Kv transmission line between the cities of Melo and Tacuarembó. The project will expand the electricity network enabling the integration of renewable energy into the grid.

IIC finances the Valentines Wind Farm in Uruguay

Tuesday, May 2, 2017 - 03:00
The Inter-American Investment Corporation (IIC), acting on behalf of the Inter-American Development Bank (IDB) Group, has disbursed a US$120 million financing package to Areaflin, S.A. to support the construction, operation, and maintenance of the Valentines Wind Farm in Uruguay. The 70 MW project will provide clean energy to over 100,000 Uruguayans at cheaper rates than fossil-fuel based alternatives. It will generate approximately 311.4 GWh of renewable energy per year and will reduce annual emissions by approximately 187,726 tons of CO2e.

The trade slowdown in Latin America and the Caribbean is more intense than in the rest of the world

Thursday, November 17, 2016 - 03:00
South American and Caribbean countries were the most affected. Following two years in a downward trajectory, the value of Latin American exports fell 14.8 percent in 2015, and 8.5 percent in the first seven months of 2016, according to the Trade and Integration Monitor 2016 of the Inter-American Development Bank.