IDB CLIMA, a financial tool that is the first of its kind among multilateral development banks, will also incentivize environmental transparency standards that are critical for mobilizing climate financing at scale.

Projects from Barbados, Chile, Ecuador, Haiti and Peru recognized for implementing creative and innovative solutions to advance development goals.

Financing of $250 million will promote the bioeconomy and sustainable infrastructure in the Brazilian Amazon, with a focus on connectivity and renewable energy.

Wide-ranging program will help cement post-pandemic recovery, strengthen business environment and enable key reforms.