The United States hosted a meeting of the Finance Track of the Americas Partnership for Economic Prosperity on the sidelines of the Inter-American Development Bank (IDB) Annual Meetings in Punta Cana, Dominican Republic.
The meeting was chaired by Treasury Assistant Secretary for International Trade and Development Alexia Latortue and Special Presidential Advisor for the Americas Chris Dodd. IDB President Ilan Goldfajn; Barbados Prime Minister Mia Amor Mottley; Finance Ministers from Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, and Uruguay; and representatives from Canada, Chile, and Mexico attended.
During the meeting, Assistant Secretary Latortue updated Americas Partnership countries on progress made in the Finance Track, including the approval of a capital increase for IDB Invest and a new Institutional Strategy for the IDB Group.
Discussions with Finance Ministers centered on the supply chain competitiveness plans that are being developed in conjunction with the IDB.
IDB Meeting
Delegates to the IDB meeting approved reforms including a nef financing model for IDB Invest, the institution's private sectir arm.
In a statement, Bank President Ilan Goldfajn calimed the new business model, which involves capitalization in the private sector, “can double the size” of the IDB’s work with companies.
In addition to increasing private capital, the IDB is also seeking to reform its institutional strategy to improve the “impact and scale” of the projects it finances and address the region’s “main challenges,” which Goldfajn defined as climate change, inequality, and energy transition.
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