IDB and Non-Regional Member Countries Review IDBImpact+ Implementation

Feb 28, 2025 News

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Kaieteur News- The Inter-American Development Bank (IDB) held its annual consultation with non-regional member countries on February 19-20 in Tokyo, Japan, as part of preparations for the IDB and IDB Invest Annual Meetings, scheduled for March 26-30 in Chile.

This high-level dialogue convened representatives from all 22 non-regional member countries to review progress on IDBImpact+, a reform agenda designed to expand the scale and impact of the Bank’s work to reduce poverty, address climate risks and promote sustainable growth – including by increasing the IDB’s financing capacity.

According to the IDB, as part of this agenda, a broad set of reforms is underway, including efforts to strengthen IDB Invest and IDB Lab to mobilize private investment, scale financing solutions and foster innovation to drive private sector-led growth. A subset of these – 11 key reforms and initiatives – will be presented at the Annual Meetings.

The two-day meeting also served as a platform to discuss the IDB’s strategic priorities and the economic outlook for Latin America and the Caribbean. Additionally, the IDB executive team provided updates on the IDB’s role in advancing regional programs and initiatives with global relevance, including Amazonia Forever, ONE Caribbean, América en el Centro, the Alliance for Security, Justice and Development, and Integration Routes. Discussions also covered a proposal for a regional impact program on disaster-risk management and the Bank’s leadership in developing innovative financial instruments to mobilize private capital.

A key theme was how non-regional member countries play a pivotal role in mobilizing investment, innovation and expertise to position Latin America and the Caribbean as a key player in global solutions. Their contributions help scale private investment, drive sustainable infrastructure and strengthen economic integration.  The discussions highlighted how IDB Invest and IDB Lab are critical in channeling private capital into the region, while regulatory reforms, rule of law and business-friendly policies remain essential to unlocking sustained growth.

“Our partnership with non-regional members is essential to positioning Latin America and the Caribbean a key player in solving global challenges. The IDB serves as a bridge, connecting the region with global markets, investment and expertise to drive shared prosperity and sustainable growth,” said IDB President Ilan Goldfajn.

New Agreement with JICA

During the consultation, IDB Invest and the Japan International Cooperation Agency (JICA) announced a new $1 billion contribution to establish the JICA Trust Fund for Achieving Development in Latin America and the Caribbean (TADAC). This fund – the agency’s first private-sector fund with the IDB and its largest private-sector fund in Latin America and the Caribbean – aims to co-finance projects with IDB Invest, accelerating private investment and fostering sustainable economic growth across the region.

The TADAC fund will bolster IDB Invest’s efforts to drive private investment in sustainable infrastructure. It uses an innovative reflow feature to enhance blended finance tools, supporting IDB Invest’s new “originate-to-share” business model, which is designed to scale investments and attract private capital to the region.

Collaboration with Non-regional Member Countries

Contributions from non-regional member countries in Europe and Asia allowed the IDB, IDB Invest and IDB Lab to finance and implement projects in critical areas, such as social protection, water and sanitation, climate, energy, sustainable infrastructure, tourism, urban development, agribusiness, digitalization, and regional-impact programs.

List of IDB Partners

Contributions from non-regional member countries are channeled through development agencies and ministries in Europe and Asia. These include Austria’s Ministry of Finance (BMF) and Ministry of Economy; Belgium’s Ministry of External Affairs; Croatia’s Ministry of Finance; Finland’s Ministry of Foreign Affairs; France’s French Development Agency (AFD) and its private-sector arm, Proparco; Germany’s Ministry of Economic Cooperation and Development (BMZ), Ministry of Economy and Climate Action (BMWK), and KfW Development Bank; Israel’s Ministry of Finance; Italy’s Ministry of Economy and Finance (MEF), Ministry of Foreign Affairs and International Cooperation (MAECI), and Ministry of Environment (MASE); the Netherlands’ Ministry of Foreign Affairs (BZ) and the Dutch Entrepreneurial Development Bank (FMO); Norway’s Agency for Development Cooperation (Norad); Portugal’s Ministry of Finance; Slovenia’s Ministry of Finance; Spain’s Ministry of Economy, Commerce and Business (MINECO) and the Spanish Agency for International Development Cooperation (AECID); Sweden’s Ministry of Foreign Affairs and Swedish International Development Cooperation Agency (SIDA); Switzerland’s Swiss Agency for Development and Cooperation (SDC) and State Secretariat for Economic Affairs (SECO); and the United Kingdom’s Foreign, Commonwealth & Development Office (FCDO). In Asia, contributions came from Japan’s Ministry of Finance (MOF), Japan International Cooperation Agency (JICA), Japan Bank for International Cooperation (JBIC), the Export–Import Bank of Korea (KEXIM), and Korea’s Ministry of Economy and Finance (MOEF).

Beyond public-sector partnerships, the IDB, IDB Invest and IDB Lab collaborate with non-regional member countries through engagements with the private sector, academia and cultural institutions. It maintains active partnerships with leading companies, associations, and institutions, including Banco Santander, Bayer, BBVA, BNP Paribas, Confindustria, Danone, Enel Group, Engie, Fundación La Caixa, Fundación Mapfre, Fundación Telefónica, IE University, Mouvement des entreprises de France (MEDEF), NEC, NTT Data, ONCE, Sacyr, Samsung, Seoul National University, Sophia University, Telefónica, University of Tokyo, Waseda University, and Wayra, among others.

By deepening its partnerships with non-regional members, the IDB continues to expand opportunities for economic growth, innovation and sustainable development across Latin America and the Caribbean, in alignment with IDBImpact+.

(IDB and Non-Regional Member Countries Review IDBImpact+ Implementation)

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