Korea Milestones, AI on the Move, COP Around the Corner

[IDB Group Newsletter]

Discover this month’s highlights of our work in Latin America and the Caribbean.

Innovation and Growth, via Seoul The IDB Group and Korea marked their 20th anniversary of partnership this month with new initiatives to accelerate innovation, digitalization, and growth in Latin America and the Caribbean. The actions included a new Seoul-based AI Hub, an expanded Korea Fund at the IDB, credit-substitution guarantees, and a $300 million private-sector co-financing facility with IDB Invest and the Export-Import Bank of Korea. Joint work over the years has provided services to more than 4 million households, and new, tech-focused targets are on the horizon – as trade between Korea and Latin America and the Caribbean reaches record levels. Following the Korea-LAC Business Summit, President Goldfajn traveled to Saudi Arabia and Qatar, announcing a $1 billion financing pledge with the Islamic Development Bank for Suriname and Guyana and a new financing facility with the OPEC Fund for infrastructure projects. COP Around the Corner In just a few days’ time, the eyes of the world will be on Belém, Brazil, in the heart of the Amazon region, for COP30 – and there, the IDB Group will lead international action on resilient development in Latin America and the Caribbean. Follow our COP30 page here for all events and announcements. We’ll present cutting-edge solutions for the public and private sectors to get capital flowing and bridge financing gaps, with a focus on boosting resilience and advancing our member countries’ goals. And what better place for our Amazonia Forever program to enter an exciting new chapter? Read this preview from President Goldfajn (in Spanish) and stay tuned! Traveling and Farming with AI What if your morning bus ride in Mexico became quicker thanks to route-optimization algorithms? What if a farmer in Chile could get more fruit from every plant with irrigation powered by machine learning? The potential of artificial intelligence and related technologies to improve infrastructure in Latin America and the Caribbean is immense – potentially adding several percent to GDP in a short time. Explore our new research, which offers real-world cases and practical guidelines on turning possibilities into practice. Plus, learn how IDB Invest is supporting tech-driven improvements in agricultural productivity and stronger value chains with its Digital Transformation Hub for Agribusiness, designed to support companies throughout their digital journeys. Featured Projects Paraguay: Largest-Ever Local Bond Issuance Totaling 240 billion guaranies (about $34 million), the IDB Invest issuance is the highest-value bond issued by any multilateral institution in the country. Argentina: Caring for Retirees and Pensioners A $500 million Loan Based on Results will benefit 5.4 million people with improved health care, including treatment of chronic diseases and cancer. IdLAC: Digital Public Services Across Borders For the first time at the regional level, citizens will be able to complete digital public-service transactions in another country using their national digital identity. Peru: Expanding Electricity in the Amazon Financing under a new credit line will benefit more than 30,000 people in 25 rural communities with new power to drive sustainable development. Haiti: Access to Essential Health Services A grant will help the country rebuild health services in its three northern departments, directly benefiting 750,000 people. Data of the Month From Brazil to El Salvador and Jamaica to Mexico, the Early Childhood Development Innovation Fund has had a transformative impact on young lives. Approximately 700,000 children have benefited from foundational skills-building and improved care – in a region where the cost of non-action in early childhood equals 1.6% GDP. This groundbreaking initiative by the IDB and partners also benefited some 300,000 parents and caregivers and 5,000 childcare centers during its eight years of implementation. And it exemplified creative and flexible financing and implementation. Learn more here. The Inter-American Development Bank Group (IDB Group) is the leading source of financing and knowledge for improving lives in Latin America and the Caribbean. It comprises the IDB, which works with the region's public sector and enables the private sector; IDB Invest, which directly supports private companies and projects; and IDB Lab, which spurs entrepreneurial innovation. This email was sent to: cswaca...@gmail.com This email was sent by: the IDB Group The IDB Group 1300 New York Ave. NW Washington, D.C. 20577 United States We respect your right to privacy - view our policy Manage Subscriptions | Cancel all my subscriptions