dinero_admin At the Fourth International Conference on Financing for Development, held in Seville, the Inter-American Development Bank (IDB) and the European Investment Bank (EIB) signed a cooperation agreement to increase financing and achieve a greater impact on sustainable development in Latin America and the Caribbean.
The agreement establishes a mutual commitment to work more closely, effectively and in a coordinated manner to mobilize more resources for regional development. It also strengthens the funding portfolio aligned with the European Union’s Global Gateway strategy, enabling strategic priorities to be translated into tangible results on the ground.
Key objectives of this partnership include increasing joint financing, including sovereign debt-backed loans; mobilizing private capital through innovative instruments such as guarantees and blended finance; and enhancing inter-institutional collaboration through staff exchanges and harmonization of environmental, social, and contractual standards.
The agreement also seeks to tailor European resources to the specific needs of Latin America and the Caribbean, ensuring that EU funds generate maximum impact in the region through viable and strategic projects. Both institutions stress the importance of acting together to accelerate results and boost inclusive and sustainable development.
“With this agreement we are strengthening ties between Europe and Latin America and the Caribbean, aligning instruments and accelerating results”, said Ilan Goldfajn, president of the IDB. EIB President Nadia Calviño said that “Europe is with Latin America and the Caribbean” and that this partnership represents a key step towards generating greater impact on the ground.
