IDB expects to provide more than $500 million to help Latin America and Caribbean prepare for natural disasters
March 10, 2011
Financial disaster preparedness is a growing concern in Latin America and the Caribbean. Last year the region saw devastating earthquakes in Chile and Haiti and an active hurricane season that impacted Central America and Mexico. In addition, the La Niña-related weather phenomenon has brought severe flooding to Venezuela, Colombia and Brazil, among others.
October 25, 2010
The presidents of Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Mexico, Colombia and the Dominican Republic will meet tomorrow, Oct. 26, in Cartagena, Colombia at the XII Summit of the Tuxtla Mechanism for Dialogue and Coordination. The heads of state will be informed of the progress made by the Mesoamerica Project in terms of regional integration and will decide further courses of action.
July 21, 2010
In late July, the first substation of the Central American Electrical Interconnection System (SIEPAC) is opening in Costa Rica. A week later, the substation in Panama will be ready to operate. Towers, lines and cables are already in place, so the southern section of the nascent Central American electricity market will soon be a reality. PAC53 - Road from La Chorrera to Arraijan, in Panama.
July 29, 2009
The regional integration initiative known as Proyecto Mesoamérica is gaining momentum. It was a central item on the agenda of the XI Cumbre de Tuxla (an annual summit of regional heads of state), which concluded in Costa Rica today. Last week news reports focused on a proposed multimodal transportation strategy to improve the region’s competitiveness. And last June, the IDB announced the second phase of a project known as Tránsito Internacional de Mercancía, which will introduce a unified customs system for use on the borders of all Mesoamerican countries.
March 19, 2009
Latin American and Caribbean leaders expect per capita income to fall or grow moderately in the 2009–2012 period and governments to rely more on financing from international institutions, according to a survey by the Inter-American Development Bank (IDB). The expectations contrast sharply with the recent economic performance in the region, where product per capita grew 4.1 percent annually in the past five years.
March 17, 2009
Since the mid-1990s the Inter-American Development Bank (IDB) has been the leading source of multilateral financing for Colombia. Over the last 50 years, the IDB has approved more than US$14.8 billion in loans and non-refundable technical cooperation projects for Colombia. Throughout its history, the IDB has supported the Colombian government and private sector in key development areas such as infrastructure, state modernization and reform, small and medium enterprise, agriculture, energy, climate change and environmental protection.
April 01, 2006
By Arnaldo Vieira de Carvalho*For Katalina Erlinda Peña de Romero’s family, sunset used to mean an abrupt end to all activity. Their house in the rural municipality of Caluco, in the Salvadoran department of Sonsonate, did not have electricity, and the family income was so meager that they often could not afford to buy kerosene to light lamps.
March 01, 2006
By Paul Constance
March 01, 2006
By Paul Constance Is it possible to replace an 8,000-person bureaucracy with an autonomous agency run by 47 civil servants? Is it ethical to do so? In El Salvador’s case, the answer to both questions is yes. In 1999, when El Salvador’s government announced plans to create FOVIAL (see link to main article at right, “A smoother road”), it also disclosed that the Ministry of Public Works department in charge of road maintenance would be shut down.
September 20, 2005
Increased investment, low inflation, an improved fiscal situation, decreased unemployment. Latin America and the Caribbean have been hearing plenty of good news the past 18 months. A group of renowned economists analyzed the situation at a seminar hosted by the IDB Research Department to honor IDB President Enrique V. Iglesias, who will retire on September 30. Iglesias himself opened the seminar, which was chaired by IDB Chief Economist Guillermo Calvo, with the participation of Ricardo Hausmann, Michael Mussa, José Antonio Ocampo and John Williamson.