At the Americas Partnership for Economic Prosperity (APEP) meeting of foreign ministers today, IDB Invest and the U.S. International Development Finance Corporation (DFC) strengthened their partnership through a new initiative that will accelerate international development projects in countries throughout Latin America and the Caribbean and sustain the positive effects they deliver.   

The new technical assistance facility, to which DFC is contributing $30 million, is the result of innovative cooperation between IDB Invest and DFC and will be available to any project developed under the shared Americas Partnership Platform. It will expand the pipeline for new projects and support those under consideration to meet rigorous criteria for IDB Invest-DFC financing. For projects that have already received investments, the facility will offer guidance to maximize economic growth and ensure they align with IDB Invest and DFC’s strategic objectives, such as environmental and social sustainability. 

“Our partnership with DFC is critical to our strategy of greater impact in the region,” said James P. Scriven, CEO of IDB Invest. “We are keen to see our collaboration grow from strength to strength, and this technical assistance facility is a core part of our combined efforts to move forward our common goals. At IDB Invest, we anticipate that our collaboration will contribute to economic prosperity in Latin America and the Caribbean, while adhering to our robust sustainability benchmarks.”

“DFC sees great potential for new projects in APEP countries – and beyond – to support stable economies and create local jobs,” DFC Deputy Chief Executive Officer, Nisha Biswal said on the sidelines of the meeting. “We seek to support critical infrastructure, expand access to capital for small businesses, and remove barriers to prosperity, among other key goals we share with our regional partners. This technical assistance facility will be a key tool for achieving that.” 

The new facility serves as just one example of how the IDB Invest and DFC partnership is playing an integral role in building a prosperous and competitive Western Hemisphere through their work across the region.

The new investment from DFC represents a strategic response to the need for more support in project development in the region. It serves as a tangible demonstration of the United States’ commitment to this critical partnership and the growing importance of APEP.

IDB Invest and DFC launched the Americas Partnership Platform at the APEP Leaders’ Summit in November. They have since then been working to create a partnership that will meet the goals of APEP; strengthen regional integration, cooperation, and competitiveness; and facilitate the availability of development financing for the private sector.

About IDB Invest 

IDB Invest, a member of the Inter-American Development Bank Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $21 billion in assets under management and 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.         

About The U.S. International Development Finance Corporation (DFC)

The U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, infrastructure, agriculture, and small business and financial services. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.