The Initiative defines regional public goods (RPGs) as goods, services or resources that are produced and consumed collectively by the public sector and, if appropriate, the private, non-profit sector in a minimum of three borrowing member countries of the IDB. The Initiative focuses on RPGs that have the potential to generate significant shared benefits and positive spillover effects. Spillover effects can be expressed in terms of scope (benefits extend beyond the originally targeted sector in each country) and/or scale (benefits extend beyond the original group of countries).
COMPETITIVE ALLOCATION OF FUNDS
Each year, the Initiative provides non-reimbursable resources (grants) for proposals that have been selected as a result of a call for proposals (CFP).
The Initiative finances proposals that have been prepared or are endorsed by and benefit a minimum of three (3) and exceptionally two (2) borrowing member countries of the IDB.
The RPG needs to be produced collectively. This means that the partner countries and institutions decide together their goal, how to achieve it, including their work plan, the agenda and the mechanisms of their governance and regional cooperation. All participating countries should have equal access to the products generated collectively.
The Initiative is open to the promotion of RPGs in any area, in which the Bank is active. However, alignment with the IDB’s goals, objectives and priorities is a selection criterion. Proposals that address cross-cutting issues of the Update to the Institutional Strategy 2016-2019 will be evaluated positively (gender equality and diversity; climate change and environmental sustainability; and institutional capacity and the rule of law).