IDB Invest and IFC welcome Proparco as the 55th member of the Amazon Finance Network. Proparco is the private sector financing arm of the Agence Française de Développement (AFD) Group, which promotes sustainable economic, social, and environmental development.

Proparco provides financing and support to companies and financial institutions in Africa, Asia, Latin America, and the Middle East, focusing on key development sectors such as infrastructure, agribusiness, financial institutions, healthcare, and education.

The arrival of Proparco reinforces the consolidation of the network, established from the commitment of IDB Invest and IFC to responsible economic growth and the promotion of opportunities in strategic regions.

Jean-Baptiste Sabatié, Deputy General Manager of Proparco, highlighted the importance of joining this initiative: "Joining the Amazon Finance Network is fully aligned with Proparco's mission to financially support projects that contribute to planet protection. The Amazon region plays an essential role in global environmental balance and economic resilience. Through this collaboration, we seek to mobilize resources and knowledge to support high-impact initiatives that address environmental and social challenges while promoting sustainable economic opportunities in the region."

In the case of the Amazon region, it is crucial for ecosystems worldwide and for the people living there that their prosperity derives from a collective effort to promote a sustainable development model.

The private sector plays a central role in this path, protecting the environment and raising living standards through an economic model that benefits people and the forest.

The Amazon Finance Network was launched in 2023 as a joint initiative between IDB Invest and IFC. The Network, part of IDB's Amazonia Forever Program and the World Bank Group's Amazonia Viva Program, aims to increase investment flows, mobilize capital, promote financial inclusion, share knowledge on innovative financial solutions, and generate synergies with the public sector to achieve sustainable impact throughout the Amazon region.

The 55 members are committed to playing an essential role in the region's economic development and reducing poverty and inequality by supporting projects that can expand access to financing. In June 2024, members participated in a Tambaqui Tank to select innovative pilot projects, and several are currently receiving support from IDB Invest and IFC.

About IDB Invest

IDB Invest 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 over 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet its clients' needs in various sectors. Visit our website www.idbinvest.org/en.

About Amazonia Forever

Amazonia Siempre is an umbrella and holistic program aimed at protecting biodiversity and accelerating sustainable development on three fronts: expanding financing, promoting knowledge exchange, and facilitating regional coordination among the eight Amazon countries.

The Program is based on five pillars: (1) Combating deforestation and strengthening environmental control and security in the context of national governments; (2) Bioeconomy, through the promotion of alternative and sustainable economic activities; (3) People, with the goal of achieving adequate access to education, healthcare, and employment; (4) Sustainable cities and infrastructure and connectivity; and (5) Sustainable and low-carbon agriculture, livestock, and forestry. Additionally, the program focuses on promoting the inclusion of women, Indigenous peoples, Afro-descendants, and local communities, as well as climate, biodiversity, and forest conservation, as well as strengthening institutional capacities and the rule of law.

About IFC

The International Finance Corporation (IFC), part of the World Bank Group, is the leading international development institution dedicated to the private sector in emerging markets. It works in over 100 countries and uses its capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2024, IFC committed a record $56 billion to private companies and financial institutions in developing countries, mobilizing private sector solutions and capital to create a world without poverty on a livable planet. For more information, visit www.ifc.org.

About Amazonia Viva

Amazonia Viva is the World Bank Group's initiative to strengthen efforts and collaboration to protect natural assets for a healthy forest biome, foster inclusive and nature-based economic opportunities, and improve the population's living standards. As part of the World Bank Global Challenge Program on Forests for Development, Climate, and Biodiversity, Amazonia Viva will promote innovative solutions to deepen and expand the support of the World Bank Group, including the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA).

About Proparco

Proparco, a subsidiary of the Agence Française de Développement Group, has been working with the private sector for over 45 years to build a more just and sustainable world. With an international network of 25 local offices, Proparco collaborates closely with its partners to develop sustainable solutions that address environmental and social challenges in Africa, the Middle East, Asia, and Latin America. Proparco has sectoral expertise and a wide range of financial solutions adapted to different stages of business development, thanks to its subsidiary Digital Africa and its technical assistance offer Propulse, designed to expand the impact and performance of its partners. Proparco's new strategy, "Acting together for greater impact" (2023-2027), strengthens and amplifies its various collaborations with partners. For more information, visit www.proparco.fr/en/strategy. To learn more, visit: www.proparco.fr/en and @Proparco on LinkedIn.