Press Release: DFC and IDB Invest Expand the Americas Partnership Platform by Creating a New Co-Financing Framework to Promote Sustainable Development in Latin America and the Caribbean
The U.S. International Development Finance Corporation (DFC) and IDB Invest today launched a new co-financing framework that furthers their collaboration to support high-impact development projects in Latin America and the Caribbean. DFC Chief Executive Officer (CEO) Scott Nathan and IDB Invest CEO James Scriven signed the framework to finance projects in key sectors such as renewable energy, transportation infrastructure, the digital economy, and financial inclusion. This new framework is an extension of the Americas Partnership Platform, which President Biden announced at the inaugural Americas Partnership for Economic Prosperity Leaders’ Summit.
The framework creates a streamlined process where DFC and IDB Invest can provide up to $50 million each to meet the financing needs of strategic deals in Latin America and the Caribbean. The streamlined procedures aim to simplify the due diligence process between the two institutions, providing greater opportunities for DFC and IDB Invest to co-finance deals in countries where financing may be limited. The program is available for transactions in all sectors and countries in which DFC and IDB Invest jointly operate.
“IDB Invest is a valued partner in promoting economic development,” said DFC CEO Scott Nathan. “This new co-financing framework will help both of our organizations more effectively drive investment dollars to high-impact projects across the Americas.”
“By partnering with DFC, we are not only driving financing; we are creating impact,” said James Scriven, CEO of IDB Invest. “To make a real dent in the UN Sustainable Development Goals, we need to scale our impact to support our member countries in Latin America and the Caribbean, especially those that need it the most.”
The new framework expands the ways in which DFC and IDB Invest can partner to support economic development in the region under the Americas Partnership Platform. Further information can be found on the Americas Partnership Platform website.
DFC and IDB Invest are committed to finding new ways of working together to harness private sector resources that promote high-quality investments in Latin America and the Caribbean. This includes joint travel, beginning with a trip to Colombia later this year.
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Source: U.S. International Development Finance Corporation (link opens in a new window)
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