"The IDB will continue to advance inclusive digitalization in Latin America and the Caribbean because we recognize the importance of maximizing the use of and access to technology to create jobs and new opportunities for students, entrepreneurs, and leaders of micro, small and medium enterprises. We look forward to strengthening our partnership with Telefónica to bring new solutions that help advance sustainable development in our region", said IDB president Mauricio Claver-Carone.

The collaboration between the IDB and Telefónica covers different areas such as training with courses on artificial intelligence and Big Data; employability; migration; and the ethical and responsible use of technology. In addition, Telefónica participates in key entrepreneurship initiatives with IDB Lab, the IDB Group's innovation lab, and in innovative financing schemes with IDB Invest.

José María Álvarez-Pallete, Chairman of Telefónica said: "This alliance and collaboration allows us to maximize our contribution to a fairer socio-economic development, through a green and inclusive digitalization of the region, which helps to reduce the gaps and contribute to entrepreneurs and corporations to be at the forefront of the digital world".

One of the central themes of the meeting was the launch of CIV-LAC, a regional platform for corporate entrepreneurship that will help scale around 600 startups through open innovation processes with large and medium-sized Spanish and Latin American companies, thus contributing to boosting the digital ecosystem.

The development of this platform is led by BID Lab and Wayra, Telefónica's innovation hub. The initiative will facilitate access to commercial networks, resources and knowledge to benefit startups characterized by technologies or business models with high socio-environmental impact.

It will promote the link with corporations that support the use of these solutions through collaborative innovation and investment projects.

The 60% of the technological solutions that will be promoted by this platform will be destined to vulnerable communities and the remaining 40% will be aimed at improving the environmental impact.

The meeting between the two presidents took place at Telefónica's headquarters in Madrid where they reviewed the progress of other key projects. These include Destino Empleo in Chile, an employability program and Internet for All (IpT) Peru. At the meeting, they reviewed the possibilities of expanding the success of IpT Peru to Ecuador and Colombia. To date, IpT Peru has improved connectivity to more than 3 million people in remote populations.