Financing joint solutions to shared development challenges through regional cooperation
The Regional Public Goods (RPG) Initiative of the Inter-American Development Bank (IDB) is based on the premise that the countries of Latin America and the Caribbean (LAC) share numerous development challenges and opportunities that can be addressed more effectively and efficiently through regional collective action and cooperation.
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). Each year, the IDB solicits proposals from the region to finance projects that promote RPGs by means of collective action. The RPG needs to be produced collectively. This means that the partner countries and institutions decide together their goal, how to achieve it. All participating countries should have equal access to the products generated collectively.
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 and exceptionally two borrowing member countries of the IDB.
The partner countries and institutions decide collectively their goal, including their work plan, the agenda and the mechanisms of their governance and regional cooperation.
The 2024 Call for Proposals will select high regional value-added proposals that address, through collective action and cooperation among proposing institutions, a shared challenge or opportunity related to one or more of the following 3 objectives of the new Institutional Strategy of the IDB Group:
Eliminate obstacles to economic participation and improvement in the standard of living of the poor and vulnerable in Latin America and the Caribbean.
Achieve a net-zero emissions future by 2050, resilient and positive for nature, in line with the Paris Agreement.
Increase the real GDP per capita of the region by promoting initiatives aimed at strengthening regional integration
This Regional Public Good resulted in a Regional Drug Quality Control Protocol to promote access to safe, effective and good quality medicines for countries in Central America. The project established procedures and a regulatory framework that allowed for the acquisition of medicines through joint price negotiation processes. As a result of 5 rounds of negotiation, eight Central American countries were able to generate an aggregate saving of 38 million dollars.
Since 2011, the Regional Public Goods Initiative has financed the project "Learning in 21st century schools". This project facilitates the exchange best practices for the design, planning and management of school infrastructure in 14 Latin American countries. Through the analysis of regulatory aspects and construction, and the development and implementation of a methodology for gathering information, the participating countries have promoted changes, harmonization and improvements in the regulations governing the construction of schools in the region.
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