This Month: BID for the Americas, Financing x 4, the State of Work

"BID for the Americas" Arrives in Europe

The insignia BID for the Americas program aims to increase the participation of global businesses in Latin America and the Caribbean, focusing on opportunities in public procurement, trade and investment, and co-financing. Now, it has reached European shores!?

In Madrid, President Goldfajn and leaders from the public and private sectors launched the program’s European chapter, highlighting ways to build upon the current 305 billion euros in bilateral trade – and boost inclusive, sustainable development in the process.

The president also brought the program to Rome to conclude a trip that marked the 50th anniversary of the Madrid Declaration?, which opened the doors for European membership at the IDB. Today, the Bank has 16 European member countries, and one out of every three dollars mobilized comes from European partners.

Learn about BID for the Americas here.

Standing with Brazil after the Floods

When devastating floods hit southern Brazil, we were quick to respond.

The IDB has made available more than $1 billion in redirected funds, lines of credit and humanitarian aid, as the state of Rio Grande do Sul and its people grapple with the immediate and longer-term consequences.

Existing resources can be used for infrastructure, measures to protect jobs, and to support social needs, while new financing is intended for climate resilience and reconstruction in a range of sectors.

Read more here.

The Quadrupled Potential of Special Drawing Rights

Special Drawing Rights, or SDRs, are an international reserve asset created by the International Monetary Fund (IMF). A decision this month allows countries to channel these assets through multilateral development banks.

The banks, in turn, could leverage them by up to four times their value in the form of loans for social projects, climate-change action and more.

The IDB and the African Development Bank proposed the hybrid-capital channeling solution. It will help multilateral development banks maximize their balance sheets and their power for improving lives – including in Latin America and the Caribbean.

Learn more here.

Featured Projects

Bolivia: Boosting Resilience to Natural Disasters

• A $250 million contingent loan, the first ex-ante financial instrument contracted by the country, enables quick access to resources in the event of floods, droughts and epidemics.

Honduras: Strengthening Employability and Job Placement

• The program will help build the skills of people seeking employment and is the first IDB loan to include labor-reintegration services for the returned population.

Bahamas: Solar Power Starts to Shine

• Now in operation, the Fairfield Solar Plant is expected to cut 5,000+ tons of CO2 emissions annually, while helping develop a Caribbean market for clean-energy sources.

Belize: Improving Urban Life

• Some 40,000 people in vulnerable neighborhoods and urban areas will benefit from improved drainage, sewage, pavement and bicycle lanes, as well as upgraded social services centers.

Calling All Women STEMpreneurs!

• Are you a female tech entrepreneur in Latin America or the Caribbean? Do you have innovative ideas for our region? These two calls for proposals from IDB Lab's WeXchange platform are for you.

Data of the Month

About 70% of working-age people in Latin America and the Caribbean are employed. Nevertheless, more than half of workers earn their living informally, and nearly a third do not surpass the poverty threshold.

The result is an employment quality rating of about 41 out of 100 in the latest edition of the Better Jobs Index, which also reports significant disparities by country, gender and age.

The Index also includes priorities for policymaking that can lead to improvements.

Learn more here.