IDB closes year with nearly US$20 billion in new financing for the Caribbean and Latin America

The Inter-American Development Bank (IDB) and its private-sector arm, IDB Invest predict they will end 2021 with $19.5 billion in new investments for Latin America and the Caribbean. The financing is the second-highest annual total in the history of the organizations. The investments have helped countries start to recover from the pandemic and shift towards sustainable markets. The funding prioritized COVID-19-era healthcare and digitalization to climate change action, supply chains and education, as well as aiding to reduce gender inequality, expand entrepreneurial ecosystems, and empower small and midsize companies, which account for over two-thirds of the region’s jobs. Historically, amidst a restructuring of international trade, the IDB approved $2.3 billion to help regional supply chains, which nearly doubled the average amount in the previous years leading up to the pandemic. The IDB’s investments in 2021 will continue to help countries move towards new opportunities that will attract foreign investors, making it easier for them to recover from the pandemic and address longstanding issues.

Source: Jamaica Loop News