IDB Eyes Hike in Private Sector Support

The Itaipu hydropower dam. The Inter-American Development Bank will more than double its financing for private sector projects, including for renewable energy schemes, in the next four years. Photo by: Jason Jacobs

The Inter-American Development Bank is looking to more than double its annual funding to the private sector in Latin America and the Caribbean through 2015.

The regional lender’s private sector financing is expected to exceed $3 billion per year by 2015 from $1.4 billion last year. The move will help to fulfill mandates relating to the bank’s capital increase of $70 billion agreed in 2010.

>> IDB Eyes Boosting Support for Latin America, Caribbean Private Sector

Under the mandates, the bank will increase its financing without sovereign guarantees and raise lending to private sector projects that promote greater social inclusion, poverty reduction, climate change adaptation and competitiveness through infrastructure development.

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About the author

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    Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.